Stephen Roach: Xi May Be Using Trump Summits to Buy Time

Former Morgan Stanley Asia chairman Stephen Roach argues, according to the Bloomberg headline, that Chinese President Xi Jinping may be using summits with President Trump to buy time rather than to signal a durable trade settlement. The transmission channel here is policy-uncertainty pricing: if Beijing's engagement is tactical, investors may discount the likelihood of a lasting tariff truce and demand a higher risk premium on trade-sensitive exposure. The asset most directly referenced in the headline is the Trump-related trade-policy complex, which in practice tends to flow through U.S.-China-linked equities, the yuan, and export-heavy Asian currencies that are sensitive to tariff headlines. Traders should watch the next round of U.S. tariff announcements and any scheduled follow-up negotiation dates, since concrete deadlines would test whether summit rhetoric translates into enforceable commitments.

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