The trade deal between the US and China is nearly nearly there, but still not quite. What a water-drip of a process, and we still don’t know what will result.
One of two pieces of information that really caught our attention this week was news that the US and China have agreed to establish “enforcement offices” for whatever the terms of the US-China agreement are. The real bottom line, however, will still be the extent to which the playing field of international trade and business can be leveled. In answer to that, the Global Times made clear the position of Those in Command in a headline on a story about the high-tech sector: “China can’t ditch state-led drive for high technology.”
The other piece of news was that the US, China and the EU have agreed to create a “robust alternative” to the Belt and Road. Now that would have been a good idea quite a few years ago, but better late than never.
Meanwhile, perceptions of China’s economy seem to have returned to bubbly. We have anecdotal evidence that the situation on the ground may be to some extent at variance with this, but perception is reality.
Have a good weekend.