李其 Lizzi@wstv_lizzi
Let me throw a contrarian take out there... See many analysts lament the lack of concrete deliverables or deals after the Trump-Xi summit. Well, that’s not the point of a leadership summit. The leaders are not going to be the ones hashing out deals in real time. That work is delegated to trade and investment officials from both sides, before and after the summit.
Yes, in theory, the prep work could have been done beforehand so the leaders could simply greenlight and announce the deals post the summit. And yes, the prep work for this summit was all over the place and rushed. But the detailed work can also come after the leadership summit, once the two leaders have set the political direction, tone, and framework.
Given that both sides have now confirmed the return visit of Xi in September, there is actually both necessity and momentum for them to hash out concrete details of deals and mechanisms to stabilize the relationship, creating more political space for Xi’s return visit in September... So the return visit is actually a kind of insurance policy, or anchor, for both sides to make progress.
Again, a lot could happen between now and then, and the fundamentals of the competitive reality between the U.S. and China have not changed! But I would not quite write off the lack of concrete deliverables, especially just a few days after the summit, as evidence that there will be no deliverables...
In fact, ministry- and lower-level work has already started. The NDRC has met with Boeing and others to seal purchasing agreements.
Expect more announcements from MOFCOM and other agencies in the coming weeks...
Paint me an optimist! 😌
