Beijing Demands Its Own Enforcement Of Any Trade Deal | WHAT REALLY HAPPENED

Beijing Demands Its Own Enforcement Of Any Trade Deal

Now that President Trump's insistence that he and President Xi would need to meet to finalize a sweeping US-China trade deal has been exposed as empty talk - since Beijing absolutely refuses to send Xi all the way to Florida only to risk him returning empty handed - traders are finally being forced to accept the harsh reality: That a US-China trade deal is far from assured.

As the Wall Street Journal said last night in a report that lays out, in broad strokes, the current state of the talks, Beijing - which has reportedly removed a tentative summit at Mar-a-Lago from Xi's calendar - wants a summit between the leaders of the world's two largest economies to be more of a signing ceremony than a final round of negotiations. Trump's decision to abruptly abandon talks with North Korean leader Kim Jong Un last month has opened old wounds dating back to the Clinton administration of political embarrassments suffered at the hands of US presidents dating all the way back to the Clinton administration, as WSJ reminds us.

Looming over the summit negotiations is the history of the late-1990s negotiations over Beijing’s entry into the World Trade Organization. In 1999, Chinese Premier Zhu Rongji traveled to Washington for final negotiations for a WTO deal and came up empty-handed after President Bill Clinton judged it wasn’t the right time politically to conclude a deal, say former advisers of Mr. Clinton.