It was a week of lots of medium-level developments in the China sphere but nothing which really stands out. Which could be anything other than a coincidence. Happy 100! Nothing is allowed to cast a shade on the festivities. But some of the items that struck our eye were related to the endless march of change that is US-China relations.
The word is Biden is pushing for a one on one, or perhaps Mano a Mano is more appropriate, conversation with Mr Xi. There are certainly many topics to address. One can predict with a fair degree of certainty what the Chinese position would be going into the call, but what would be interesting would be to see the prioritization of the list of topics that the US would submit. There is little or nothing the Chinese side will be ready to compromise on, one presumes. The Putin chat is likely to be the model. Then there is Huawei—the US moved another step closer to exorcising all its equipment from domestic telecoms infrastructure, even as parts of the EU said they were considering using the company’s equipment.
In other news, banking officials are warning about inflation, crypto currency looks like it’s going to continue to get whacked until it surrenders and the foreign exchange holdings of China’s banks hit a new high.
Have a great weekend.