Jay Clayton, Senior Policy Advisor and Of Counsel to Sullivan & Cromwell and former Chairman of the Securities and Exchange Commission, appeared on CNBC’s “Squawk Box” to comment on current relations between the United States and China with regard to trade, global operations and investment. During the discussion, Jay said, “We’re in the midst of a significant reset in our economic relationship with China.”
With regard to China’s approach to U.S. relations, Jay noted, “We can all recognize how deeply integrated the world economies are and the economic welfare in the United States is affected by developments in China.” Similarly, he said economic welfare in China will also be effected by the U.S. economy and that China’s leaders seem to be recognizing the risks present in de-integration.
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