Photo: AFP
David P. Goldman, Asia Times: China seeks framework for November deal with Trump
Beijing may be ready to trade short-term concessions and bide its time until it is far and away the world’s largest economy
Ahead of a possible meeting next month between US President Donald Trump and his Chinese counterpart, Xi Jinping, the White House tempered any optimism that a trade truce with Beijing is imminent when top economic advisor Larry Kudlow accused China on Sunday of doing “nothing” to defuse trade tensions.
But some Chinese officials and government advisers recently emphasized that China will show patience in addressing American trade demands, postponing if necessary some of its plans to become self-sufficient in high-tech industry.
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WNU Editor: My Chinese friends are saying the same thing .... Beijing may be ready to trade short-term concessions and bide its time until it is far and away the world’s largest economy. What's my take. Chinese President Xi underestimated President Trump, and I am willing to wager that he never thought that President Trump would be serious on raising tariffs. But President Trump did, and in turn President Xi has "lost face". So President Xi now has a choice .... to continue the same policy and to lose more face, or make a deal. My prediction .... I expect a deal to be announced in the coming months. If not .... President Xi may be preparing something drastic to assert Chinese power and influence, and that scares me.