China Morning Missive

For those interested in how China “works”, play close attention to the drama set to quickly unfold around TikTok being sold.

I might provide a regular update here with my perspectives. For now, I’ll say this. When it comes to negotiations, the more direct you are with the Chinese in your approach the less your position of strength. The Chinese are fully willing to accept a degree of pain in the short term if that improve the overall probability of winning in the end,

Once again, the Chinese operate with a low time preference. The Americans …… not so much. This, right here, needs to be better understood in Washington.