Today, we're publishing a SPECIAL EDITION of our Monday newsletter to reflect on two recent events:
1. A "truce" in our ongoing trade dispute with China
2. The passing of George H.W. Bush, 41st President of the United States
President Trump's assertion over the weekend that China had agreed to pause tariff hikes hasn't been corroborated, but markets are taking it as a good sign. The real test will come in 90 days, according to a report filed by Yen Nee Lee of CNBC.
"Trump over the weekend agreed to not raise tariffs on $200 billion worth of Chinese imports from 10 percent to 25 percent in January as he had previous threatened, according to a White House statement. In exchange, the U.S. and China will work toward a deal within 90 days - a timeline that many experts have said is too short given the complicated issues surrounding the tariff fight," writes Lee.
As I noted in Friday's HMG Tech News Digest, the real dispute centers on China's use of advanced technologies developed by the U.S. and other nations. Unless that critical issue is resolved, the trade conflict will continue creating problems and unrest.
Meanwhile, the death of George H.W. Bush offered an opportunity to consider how much the world has changed since his presidency. He was the last U.S. president to have served in a world war. He was part of a generation that endured the both the Great Depression, World War II and the Cold War.
He was also a gentleman who cultivated kindness and friendship. He never seemed to hold a grudge. Despite his manners and good humor, he presided over the first truly modern military campaign, leading a global coalition to oust the Iraqis from Kuwait in 1991.
From my perspective, his ability to blend strength, intelligence and human kindness was unique. He will be missed.
What's your opinion? We'd like to know!