Good morning from snowy DC. I am having some tech issues this AM and it is a snow day for our kids, so today’s newsletter is a bit abbreviated.

The big news events are the likely release of Trump’s China tariff plan, Xi reviewing the individual work reports submitted by Politburo members and the release of the Party and State institutional reorganization plan. The plan is massive and will disrupt many careers and relationships while creating lots of business for consultants, Chinese and foreign , who will work to explain the changes and map out new government relations strategies.

The Party is eating the State, but there will inevitably be some indigestion we will hear about along the way.

Enjoy your day, and thanks for reading.