China commerce negotiator He Lifeng will not be straightforward to take care of | Forexlive

WSJ China reporter Lingling Wei is out with a notable profile on Chinese Vice Premier He Lifeng, who’s main commerce negotiations with the US. She contrasts his hardball fashion with the pragmatic Liu He, who negotiated throughout Trump’s first time period.

“Liu He was too nice,” stated a Chinese official who participated in a few of the U.S.-China discussions throughout Trump’s first presidency. “He Lifeng is different.”

That stance is an issue for a market that desires/hopes to see commerce tensions steadily dwindling within the remaining years of Trump’s time period. The US has floated a name between Trump and Xi this week as a possible breakthough after some points entered talks but it surely’s not clear it should occur.

In Xi’s view, the individuals who seek the advice of with Chinese officers stated, China general is extra ready and self-sufficient than throughout the commerce warfare the 2 nations fought in 2018 and 2019. And the Chinese chief has readied a crew to take a harder stance this time.

Notably, the report additionally frames the prior ‘Phase One’ commerce deal throughout Trump I as a continuation of the unequal ‘century of humiliation’ sort of offers.

On the upside, the article does lay out a path to some form of repeat of the Phase One deal that will see China committing to purchase US merchandise as a path in direction of stability between the superpowers. What’s clear although is that China desires one thing in return.