US-China Trade Truce; Xi Convenes Two Day Meeting On The Battle Against Pollution; Merkel Goes To China Again; Westlake University; South China Sea
China Trade Week extended late into Friday night and ended with a whimper, not a bang. I hear the talks were brutal and while a face-saving joint statement was issued Saturday many of the details remain unsettled and the toughest issues unresolved. It looks to be a clear victory for Beijing as tariffs are at least temporarily deferred and the US has agreed to keep talking, something which China is always happy to do.
Expect the truce to last at least until the Trump-Kim Singapore summit, or its cancellation/rescheduling, but remain skeptical that significant progress was made until we see much more detail of what exactly was agreed to. In the meantime both sides are trying to claim success.
Here are some of the things I am watching for:
Will there be any double counting of the November 2017 “$250 billion” in claimed deals to add luster to this latest round?;
How will President Trump react to mounting criticism from normally pro-Trump media and pundits?;
Will we see more leaks about split…