When Xi Jinping departed Washington at the end of September, the verdict was already plain. Another carefully choreographed encounter produced a short extension of the trade truce, a modest $30 billion reciprocal tariff arrangement on non-sensitive goods, some coal purchases, an AI dialogue, and the familiar language of “constructive strategic stability.” Ceremonial pomp, pandas, and mutual professions of personal friendship filled the space where real structural progress was absent. The outcome matched what I had advised readers to expect in the runup—namely, that the deeper frictions,...
















