Lots of news about this week, and next week will feature the blowout singles day sale, which this year is expected to see a sharp decline in the purchase of American goods by patriotic Chinese consumers.
Meanwhile, the RMB has eased up over 7 again, on the back of the positive vibes surrounding US-China trade talks. Much uncertainty remains, and there has been to-ing and fro-ing over whether and/or how much of the US tariffs will be dropped as part of the deal, or ahead of the deal. It appears there will be cuts in the tariff burden. But this whole story has been round so many different bends that we should hold off making any judgments until it’s done and announced. It seems that Trump wants the deal, and if we were him, we would want as much short-term news as possible right now. Forget the longer term implications of anything. Deal to be signed, it is said, in December, location unknown.
Enjoy the weekend.