Reading the Trump leaves on China. After a phone call with Chinese President Xi Jinping Thursday, and with a summit with Xi coming up Dec. 1, U.S. President Donald Trump seems optimistic about a trade deal with Beijing. Speaking to reporters yesterday, Trump said he thought “a very good deal will be made with China,” in part because China is very eager to make a deal. There have been some signs that this is true: The Bank of Kunlun has decided to stop doing business with Iran starting tomorrow, and China’s largest oil refiners, one of which owns the bank, have opted not to buy Iranian crude after U.S. sanctions against Iran enter effect Monday. There have also been signs that China’s economy is struggling – most notably an increase in stimulus and support for the economy at the expense of Xi’s ambitious reforms. The real question here is whether the U.S. is willing to cede enough ground to make an economic arrangement with China worth Beijing’s while. As of now, we see li
Daily Memo: Trade Deals, Iranian Jets, Israeli Threats
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