China Votes Trump 2020
Today’s announcement of Chinese execution and incarceration of fentanyl smugglers, following a joint US/Chinese investigation, is another Chinese political gift to Trump. It confirms that China has reversed its outlast-Trump strategy, and is now actively working for his re-election. That is seen as a better alternative to an anti-China wild-card Warren, or an angry Trump is he is re-elected over Chinese opposition. China has announced agreement with the US to roll back “additional” tariffs as part of a “Phase 1” deal, making such a deal highly likely at this point. Yuan is trading stronger than 7 for the first time since early August, indicating market ratification that the crisis has passed, and that a deal is forthcoming.