From Breakingviews - U.S.-China rewarming trade is half-full of hot air
The balloon’s brazen appearance augurs ill for Secretary of State Antony Blinken’s expected visit to Beijing next week. It also may sabotage investors’ hopes that warming signals from Beijing, including conciliatory language in state media, are the beginning of a deeper change in tack by a government that has cultivated anti-Americanism at the expense of a roughly $600 billion bilateral trade relationship.by the Peterson Institute for International Economics.
However, it is important to put the balloon in the context of Beijing’s habitual good cop, bad cop negotiating routine. In intelligence terms, both countries spy on each other using satellites and aircraft. Proximity is the biggest risk, as with the collision between a U.S. EP-3 airplane and a Chinese fighter jet in 2001. That resulted in the death of the Chinese pilot and a major diplomatic incident.
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