Since both Beijing and Washington understandably want to hold their cards close to their chest

s until Xi Jinping and Donald Trump actually sit down to talk, it remains difficult to foretell exactly ho

上海会所w the widely anticipated Saturday meeting between the two presidents on the sidelines of the G20 Summit in Osaka will play out.

Both sides appear intent on seeking the best possible outcome, while being prepared for the worst. For all the harshness in thei上海会所

r respective rhetoric, both parties need some kind, or at least degree, of truce. Because both are beginning to feel the pain.

Yet ironing out the obviously substantial divergences between the two governments and sealing a wholesale deal will take time.上海会所品茶微信

So both have come with a Plan B.

“My Plan B with China is to take billions and billions a month … and we’ll do less business with them,” Trump said on Wednesday. Which is unrealistic.

Beijing’s, as both the Foreign Ministry and official media are vowing, is to “fight till the end” in上海会所

that case. Such a scenario would be lose-lose, as it would mean diminishing returns for both.

Global investors are pinning their hopes on the upcoming meeting producing a breakthrough in the cur上海会所品茶微信

rent impasse. The yet-to-be-confirmed report that China and the United States have reached a te

ntative agreement to avert the threatened tariffs helped Asian stock markets turn higher on Thursday.

上海会所品茶微信If some kind of truce cake has indeed been baked, as some assume, it certainly would be something worth celebrating.

After all, tense as they are, the trade frictions are the fuse of a broader and more dangerous standoff that may not only pit the world’s two largest econ

omies against each other, but also lead to the fragmentation of the global market and the international community.上海会所品茶微信

Former US treasury secretary Henry Paulson may have over-estimated

the impacts of US sanctions on Huawei in his latest Financial Times piece. Because th

ey do not work like a “death sentence” at all with Huawei raking in 5G contracts at home and abroad.

But he made a critically important point in warning that “we now face the very real prospect that an economic iron curtain may descend”.

The US approach that threatens to “Balkanize” technology and “decouple” it from China, as Paulson suggested, risks dividing t

he global technological and economic landscape, isolating the US itself, and undermining US capabilities for innovation.

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