The propaganda is ramping up around Xi's inspection tour to Hubei, just ahead of his meeting in Wuhan with Indian Prime Minister Modi. 

The US-China technology war may run much hotter than the overall conflict over trade. Xi continues to make clear that China can no longer rely on foreign technology and must go all out to end its reliance on it. Technology CEOs the world over with supply chain dependencies in China, so probably all of them, should be increasingly nervous and focused on their firms' efforts to have viable contingency plans for a US-China technology cold war. 

Thanks for reading, remember that due to the May Day Holiday in China 4.29-5.2 there will likely be no newsletter Monday.