“The United States is broadly engaged in unilateralism and protectionism, and is damaging multilateralism and the multilateral trading system. It has already become the world’s biggest destabilizing factor,” Wang said, according to China’s Foreign Ministry.
Wang, China’s top-ranking diplomat, alleged that the US must stop playing “zero-sum games” and pursue a compromise that benefits both Washington and Beijing.
There is no way out for the zero-sum games of the United States. Only win-win cooperation between China and the United States is the right path.
Trump Adviser Warns that Hong Kong Threatens Trade Deal
Not to be outdone, the Trump administration levied its own assault on Beijing. During a visit to Canada on Saturday, US national security adviser Robert O’Brien said that a trade deal was “still…possible.” But gone was the confidence from exuding from Trump’s remarks on Friday.
Adding further pressure to the Dow, O’Brien warned Beijing that the White House would not ignore the plight of Hong Kong’s pro-democracy protesters, who continue to demonstrate under the ever-present threat of violent government suppression.
“We were hoping to have (a phase one) deal done by the end of the year. I still think that’s possible,” he said. “At the same time, we’re not going to turn a blind eye to what’s happening in Hong Kong…or other areas of the world where we’re concerned about China’s activity.”
The Hong Kong Human Rights and Democracy Act, which received unanimous support in the Senate and all but one vote in the House, would impose sanctions on Chinese officials accused of perpetrating human rights abuses against protesters.
There are no US data releases scheduled for Monday, and due to the Thanksgiving holiday, none will drop on Thursday or Friday either. But that doesn’t mean that Wall Street will have any less data to pore over this week.
Here are the highlights (all times ET):
Nov. 26 (Tuesday)
8:30 am: Goods Trade Balance
8:30 am: Wholesale Inventories
9 am: FHFA House Price Index
9 am: S&P CoreLogic Case-Shiller Home Price Indices