Trump wants to inflict more trade pain; Xi's…

Xi Jinping has arrived in Guangdong for what some seem to be hoping will be a New Era version of Deng Xiaoping's 1992 Southern Tour that unleashed a new wave of reform following nearly three years of repressive policies in the aftermath of June 4, 1989. It is a lot harder to unleash reform now than it was 26 years ago so consider me wary of the coming propaganda onslaught.

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