00:00Well, let's bring all of this together. The founder of Center for China and Globalization, Wang Huyao, is in Paris.
00:08Well, the meeting actually went very well, very significantly, and I see a lot of progress has been made, actually.
00:15And also President Xi actually mentioned we should get out of this vicious cycle of retaliation to each other.
00:19And so this shifted to a new paradigm and I think also to a new pattern of Sino-U.S. relations, which is most consequential relations of the world.
00:29So I think this time, you know, there's a lot of progress has been made.
00:32There's a 10 percent drop on fentanyl, on Chinese import, but also on other Hong Kong and other places as well.
00:40And also we see there is, you know, put on hold on the support fees and investigations.
00:48And also that penetration, 50 percent of that from U.S. side will be also put on hold.
00:53And then China, of course, also put on hold on this fentanyl administrative measures.
00:57So, you know, overall, it's a great achievement.
01:01China is going to buy more soil beans from U.S.
01:04And also TikTok deal is still finalizing, I think, successfully.
01:08And so I think also there is, you know, one of the most important things, President Xi and President Trump has agreed that Trump is going to visit China in April.
01:18And President Xi and President Xi going to visit the U.S. in the fall.
01:21And I'm sure there's another two high-level summits going to happen within a year.
01:25So it's great.
01:26We're going to see a much more stabilized situation.
01:30We're still awaiting much more detail, aren't we?
01:34I mean, how much of this is about optics and about style over substance?
01:39No, I think it was quite good.
01:42I mean, this dialogue style that I think second Trump term is very different than the first term.
01:47He's more pragmatic.
01:48He's more thinking of the global peace and initiatives, which China can help on this Ukraine-Russian conflict and Gaza and many of that.
01:59I think that has been touched upon on this meeting as well.
02:01But further, I think after five rounds of talks, starting from Geneva, ending in Kuala Lumpur, I mean, the senior officials on both sides has concluded a great framework of that.
02:12So we're going to put Trump going to put 100 percent tariff off that he was proposing just a few weeks ago.
02:18And now we see a 10 percent drop of Trump's tariff, which is great news.
02:23China started buying more soil beans.
02:24I think it's good for U.S. farmers and also, you know, that that's generally some kind of a stability, like Secretary Rubio has said.
02:34Let's seek a strategic stability, which is different than what we heard in the first term of Trump's strategic rivalry.
02:41So that is really all the good news, I think, because in general, a lot of confidence, stability and also for the regions that people will fail that they don't really have to be caught in between.
02:51And I think the two largest economy have finally realized, you know, they don't have less pressure.
02:57Like they said, let's get this vicious cycle of sanctioning each other.
03:00Let's come back to the normalcy and do business for the world.
03:04This is a process, though, isn't it? Rather than an event, there's obviously more to do.
03:11No, I think this is very important.
03:13This has a set of tune.
03:14And of course, President Xi and President Trump are going to instruct their senior officials going to meet.
03:20And, you know, the principal framework is there.
03:24Just just hammer out the details.
03:26I think there's a principally if they both agree to collaborate rather than sanction, particularly from U.S., I think things can be under control.
03:35And that is really what has been coming out of these meetings that they have projected the head of the state diplomacy and the head of state instructions for both countries to get in the right direction.
03:47That's what's always been said.
03:50Let's follow the guidelines of top leaders on both countries.
03:53And let's really seek, you know, stability for both countries.
03:56And like Trump said, this is a great deal.
03:59You know, 10 of the not even out of 10, it's out of 12.
04:02That's really a high marks for this meeting.
04:05And I'm sure this, you know, this projection and this plan will be going to last for next year because this is probably going to take a year to review at the end of the year.
04:18And I'm sure Trump will have another two years after this year.
04:21And we could expect some stability in his second term.
04:25And that is good news for the world.
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