The intensity of the trade war is something that has caught plenty of people by surprise – myself included. With China rolling out the red carpet for Trump when he visited, and subsequent “deals” negotiated with his underlings, the markets assumption was that there was plenty of smoke but no fire. The actual implementation of the tariffs represented something quite new in the dynamic between US/China relationships. Still, the recent set-back during the mid-term elections has given Trump some pause and both sides seem to be moving towards a deal. Several things are on my mind as of now.

There will probably be a trade deal

Some of the issues raised by the US administration are perfectly justified and well known by businesses operating in China – especially with regards to contentious issues like intellectual property or market access. Even diehard proponents of China agree that there is plenty of ...