China Morning Missive

It’s been an exercise of drinking from a firehose this past week on the issue of #China. At every turn, I need to remind myself that there is a unique difference between rhetoric and real action.

What is clear is that then entire Trump team is no turning to the main event. China vs. America. All other priority foreign agenda items are now in process. China is next.

But here’s the issue. America is “boxed-in” fiscally. The folks in Beijing know this and know this very well and are “lying in wait”. The only point that I can raise at this time with any real confidence is that volatility throughout global markets is about to spike and spike hard.