3. Does the United States or China have more bargaining power? “Beijing also failed in the demand it most wanted – for the US to relax the restrictions and bans imposed on Chinese technology, such as is blacklisting of Chinese telecommunications giant Huawei.” While I don’t agree with their economic analysis of the trade deficit, the above-linked piece is a very useful corrective to most of what you read from the Anglo press on the trade deal. I just don’t get Scott Sumner’s unwillingness — expressed here — to frame the trade deal in national security terms. That changes everything, and it is obviously true.
5. The culture that is a German Santa shortage: “In the past, she says, the Santas under her watch didn’t ask for much. “But now, supply and demand regulate the market, and that’s a very dangerous development,” she says. “One agency has chosen to keep prices at 45 euros per Santa visit, but I’ve had to go up to 66. Others are asking for up to 120 euros.””