The highlight will be the summit between Chinese President Xi Jinping and U.S. President Donald Trump, representing the world’s two largest economies.
Although some White House officials are playing down the likelihood of the meeting producing a positive outcome, Trump appears to have toned down his intransigence and cracked the door open to a possible deal.
Beijing’s momentous effort over the last month has seen Washington’s position significantly shift, resulting in Trump and his team returning to the negotiating table.
Trump’s steps to quit multilateral international obligations, and initiate a trade war against several countries made it clear that to him, the Republican Party was doomed to lose control of the House.
The United States insisted on the pre-emptive clause during the negotiations with Canada after raising concerns that Prime Minister Justin Trudeau was exploring the possibility of a free trade deal with China.
Rather than seeking a chance to pursue common ground and solve differences, Pence’s speech read like a checklist of how best to antagonise, irritate and provoke Beijing.
So how did some U.S. exhibitors view the expo?
The US, long the world’s largest destination of FDI inflows, lost the top position for the first time in decades. Its ranking slid to third, with total FDI inflows of $46.5 billion, less than China ($70.2 billion) and the UK ($65.5 billion).
China does not need and will not seek a release of pressure on commodity exports by guiding the RMB to unilaterally depreciate sharply. In fact, this is also unfavorable to China in its efforts to attract foreign investment and enhance its import capacity.
It’s impossible for the US be merciful to China, and China is certain to lower its expectations regarding cooperation with the US.
China had never owed anything to the US and was full of goodwill towards the US.
The short-term dividends of Trump’s new fiscal, trade and financial policies will gradually be exhausted, and the structural factors that limit economic growth and the negative effects of the trade war will begin to emerge.