Good Morning from sweltering, swampy DC. Wednesday is the July 4 holiday in the US but I intend to publish an abbreviated issue tomorrow. 

Here are the top things I am watching about China today:

• PRC regulators tried to make it clear to markets that they did not intend to pursue a large devaluation of the Yuan;

• There are still no signs of serious US-China talks underway to prevent the imposition of the July 6 round of tariffs;

• The government released a three year plan to fight air pollution and will implement more market-based pricing for resource usage.

Netflix is now showing the Australian TV show "Secret City", about AUS-PRC-USA tensions and political intrigue in Canberra. I am up to episode 4, not perfect but entertaining, timely and something to put on the summer brainless TV list. Here is the trailer: