Advice

Not that President Trump or his people read this blog... but I nevertheless have some advice for them anyway. If China trade negotiators arrive this week proposing an interim trade agreement that does not address the major issues — theft of intellectual property and forced technology transfer ... otherwise known as a trade-deal light — I think Trump should decline this deal and insist on the terms that were being hammered out last Spring.

If China demurs, then Trump should cut off western capital flows into China. The easiest way to do this would be to then insist that all Chinese companies listed on American stock exchanges comply with generally accepted accounting principles and undergo an annual audit by a reputable accounting firm ... China being the only country granted these exemptions ... and forcing their compliance is quite a rational request. That could and should take the wind out of the Chinese ambitions to dominate world commerce by 2025.