I don’t have a lot of time to blog right now. but, all of a sudden, China’s head of state, Xi Jinping, is sounding, for all the world, like he is making significant concessions to President Trump in the so-called “trade war”.
More on this when I have time to provide details.
But, if it is true, what a major victory. And in less than no time.
UPDATE: Excerpted from Kevin Yao and Elias Glenn’s article at reuters.com:
Chinese President Xi Jinping promised on Tuesday to open the country’s economy further and lower import tariffs on products like cars, in a speech seen as an attempt to defuse an escalating trade dispute with the United States.
While much of his pledges were reiterations of previously announced reforms that foreign businesses say are long overdue, Xi’s comments sent stock markets and the U.S. dollar higher on hopes of a compromise that could avert a trade war.
Xi said China will widen market access for foreign investors, addressing a chief complaint of its trading partners and a point of contention for U.S. President Donald Trump’s administration, which has threatened billions of dollars in tariffs on Chinese goods.
There is the information so far. Big news per se, but enormous news if Xi Ping actually follows though – which, given Donald Trump’s hardball threats, he just might do.
Let’s hope this is exactly the way it seems.
