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Xi Jinping and Donald Trump met in South Korea on Thursday, agreeing to:
Suspend the most acute aspects of economic warfare for 12 months;
Lower US tariffs on Chinese goods related to fentanyl; and
Resume Chinese purchases of US soybeans.
There were also some other minor points of agreement. In this emergency episode, I explain the whole thing, including why the inter-imperialist rivalry between China and the US endures, why talk of a G2 is premature, and three ways to address the structural sources of great-power competition.
Catch the episode wherever you get podcasts, or watch on YouTube. An unedited transcript is available for patrons, below: