Xi sees opportunity-"the world is undergoing the most profound and unprecedented changes in a century"; Trump Administration pushing US-China technology decoupling; Further institutionalizing the "tough battle" against pollution

Good morning from Sinocism. Here are the top things I am watching about China today.

• Xi chaired a Central Foreign Affairs Work Conference (CFAWC) in which he confidently and with a Marxist’s view of historical developments outlined the Party’s challenges and opportunities towards advancing China’s global influence. This is Xi’s second CFAWC since he became General Secretary; his first was in 2014. Hu Jintao only held one during his ten years as General Secretary;

• The Central Committee and the State Council released a guideline “to comprehensively enhance ecological and environmental protection and win the battle against pollution of air, water and soil”;

• The PBoC announced a cut in the reserve ratio and more measures to channel credit to SMEs. The financial system is always under stress at the end of June (remember the “cash crunch” 5 years ago this week?) but this move may signal a reaction to credit tightening that is slowing the economy as well as making preparations to absorb any sho…