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Trump and rise of China spur global transformation

Tokyo conference tackles new reality in global financial and trading systems

President Trump is pursuing bilateral trade negotiations rather than multilateral talks.   © Reuters

It is a big challenge to keep the international financial and trading systems working as the world changes rapidly -- they are two of the basic frameworks of the global economy. The financial system has been shaken by a series of crises in the past decades, while China's initiatives, including the establishment of the Asian Infrastructure Investment Bank, are seen as a challenge to the old U.S.-dominated system.

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