#China Morning Missive.
 
The Great Game 2.0 is now heating up.  We have here the Chinese backing out from a meeting with the American Defense Secretary.  Meanwhile the Trump transition team is being asked is China’s preferential trade status will be repealed. 
 
A ton of moving parts with no visibility as to what, exactly, will be followed through on come January 2025.
 
All I will say is that China learned a number of lessons during the first Trump administration.  The Beijing leadership has had four years to plan accordingly, but it remains unclear whether all attack vectors have been addressed. 
 
It also remains uncertain as to whether or not Trump will be able to herd all of his various cats to take any material action vis a vis China. 
 
2025 is going to be pretty volatile. https://image.nostr.build/3474c8066cd3eef4357b4fbfddc66e5cbc81020954b2f257f9efac039af8bf5d.jpg