As a broad trade deal between Beijing and Washington takes shape, we sit down with Asia Practice Head Michael Hirson to discuss what comes next. Throughout the negotiations, it’s been China who has offered more concessions as US negotiators maintained their hawkish stance. As we enter phase two looking beyond headline noise and markets rallying, will be key for investors. This period will continue to antagonize both sides as we shift from deal making, to implementation risks on a host of new and complex reforms. Both sides have vastly different timelines on what constitutes progress, President Xi is keeping a close eye on the 2020 US election, and the likelihood of Trump being reelected. Whereas Trump, wants quick wins across a host of US demands to help his reelection bid. We also touch on another major China story – MSCI’s increasing the weight of China A shares in their indexes. We close with a comment on increasing tensions in the cybersecurity and technology arenas, just as the two countries get closer economically.