China and the United States announced on Friday (December 13) they had agreed to the terms of a “Phase-One” trade deal. Although details are still emerging, reports indicate the agreement involves the United States reducing some tariffs on Chinese goods and China committing to purchasing a substantial volume of U.S. agricultural, energy and manufactured goods.
Media reported that the deal also addresses a range of other issues, such as intellectual property protection, technology transfers, currency devaluation, the opening-up of China’s financial sector and dispute resolution.
UBS expects the deal to help stabilize China’s GDP growth at around 6 percent in 2020. Fixed-asset investment in the manufacturing sector and foreign trade are likely to experience a mild recovery, while the RMB is expected to strengthen gradually and then stabilize.
What does it mean for real estate?
The Phase-One trade deal is expected to provide a short-
