President Xi pledged to "punch back" at U.S. on trade two months ago. Now his economic envoy is telling U.S. cos Beijing "won't allow retribution." What's changed? Beijing is worried about losing foreign cos key to China's future. W/ via
Beijing allows ExxonMobil to build a $10B wholly-owned petrochemical project in China? “They don’t care anymore about who owns the equity, as long as the supply chain is in China.” via
WSJ's latest on trade 1) A noticeable shift in China's tactics in the trade fight: Liu He tells US execs that China "won't allow retribution". Exxon Mobil CEO meets PM Li. What's driving all this? w/
Still, interesting that China is still dangling some big carrots in front of U.S. firms that are considering large investments in China, not just dangling carrots in front of European firms (at threatened earlier). From of the WSJ
This is huge! Beijing finally recognizing that it has no allies in the US and that it’s constant manhandling of US companies in China is the reason.
China woos U.S. companies again amid fears that trade battle could batter its economy and curb critical investment via
China woos U.S. companies again amid fears that trade battle could batter its economy and curb critical investment
A lot of bluster coming from the propaganda arm but Beijing is walking back the tough talk with US companies and other intermediaries. Wonder how the internal divisions in Zhongnanhai fall on trade war by
Amid trade tensions, China restrains nationalist pride and ideological dogma in favor of economic (incentives) realism: via China woos U.S. companies again amid fears that trade battle could batter its economy and curb critical investment