Both China and the United States have released the list of achievements of Trump's visit to China from their respective perspectives. What do you think of this list? There has been progress in the relationship framework, and the specific transactions are stable 1. The so-called relational framework The new positioning of the China US relationship is the "constructive strategic stability relationship", which essentially pushes the China US relationship back from the framework of "competition confrontation crisis management" to a more predictable, institutionalized, and less prone to sudden conflicts. Both sides do not deny competition, but emphasize that competition must be "moderate" and differences must be "controllable". The core is to draw a boundary and a red line, and 'no showdown' is like this with the red line The biggest progress in the field of economy and trade from a personal perspective is also the framework for investment and trade: The investment committee is responsible for establishing a communication mechanism for investment between both parties and lowering market access barriers; The Trade Commission is a permanent platform for building bilateral trade disputes and economic and trade cooperation to avoid new tariff wars. 2. Stable in specific transactions 1) Before the purchase of Boeing aircraft, the market was rumored to have 500 or even 750 planes, but in reality, there were 200 planes; 2) Agricultural products may be the most anticipated aspect of this visit to China, and of course, it is also best to discuss them; 3) Without chips, we have actually discussed before that China is not interested in H100 and H200, and the United States has already released them at the beginning of the year. It is China's instruction to technology companies not to purchase unless necessary, and they are determined to support domestic substitution; 4) In terms of rare earth and technological equipment, China has responded to concerns and will no longer be constrained in the short term. As we discussed last Friday, Beijing has obtained the political framework of "strategic stability", while Washington has obtained the "deal results" and a cooperative stance on the Iran issue; But the three fundamental issues of Taiwan, technological warfare, and industrial competition have not been resolved. The bottom line is very clear and unlikely to break through; The ceiling is also very clear, it's hard to have surprises. Competition and containment are still the main themes, but at the bottom line, ensure that there will be no misjudgment and that both sides will not be affected by a big fight that affects internal development. Friction and disputes are bound to occur in the future. But stable bilateral relations have gradually become a consensus, and both sides, especially Trump who is approaching the midterm elections, cannot withstand these setbacks. The relationship between China and the United States has returned from crisis management to framework management. In fact, it further strengthens the G2 pattern of the "strategic stalemate" discussed after last year's Busan summit This article is sponsored by @ bitget_zh, titled 'Bitget Buying US Stocks: Instant Entry, Smooth Trading'