China Suggests Presidents Donald Trump and Xi Jinping Sign Trade Deal in Macau
Posted on: October 31, 2019, 02:40h.
Last updated on: October 31, 2019, 03:10h.
Chinese officials have suggested that US President Donald Trump and People’s Republic President Xi Jinping meet in Macau to further their trade talks and potentially sign an interim deal.
There is plenty of reason for China wishing to meet in the world’s richest gambling hub.
First, it throws a bit of shade at Hong Kong, where violent anti-federal government protests have been going on for four months. Hong Kong and Macau are the two Special Administrative Regions (SARs) of the People’s Republic that have autonomy from the mainland government.
Second, Trump would get a first-hand look at the multibillion-dollar integrated resorts. Three of the six licensed casino operators are US companies – Las Vegas Sands, MGM Resorts, and Wynn Resorts. Their gaming concessions are scheduled to expire in 2022.
“It would be an unsubtle reminder to casino owners of what is at risk if a larger deal is not reached,” Reuters’ Katrina Hamlin writes. “With negotiations for new licenses scheduled for 2022, there are billions of dollars at stake.”
Sands is controlled by billionaire Sheldon Adelson, Trump’s largest 2016 campaign donor. Disgraced billionaire Steve Wynn has also been a resilient GOP donor, though he’s no longer associated with the casino company that bears his name.
World Economies Jeopardized
The ongoing trade saga between China and the US continues to cast uncertainty over both economies. And being that they’re the two largest economies in the world, that subsequently is threatening markets around the globe.
In September, Adelson warned Trump that the trade war could cost him reelection in 2020. Sands wants the heated trade talks cooled, as the company derives more than 60 percent of its revenue from Macau.
China and the USA are working on selecting a new site for signing of Phase One of Trade Agreement, about 60 percent of total deal,” Trump tweeted Thursday. “The new location will be announced soon. President Xi and President Trump will do signing!”
Phase One is expected to include China agreeing to buy US agricultural products and agreeing to certain terms that will deter currency manipulation and prevent theft of intellectual property.
The US House passed guidelines today that will dictate the chamber’s impeachment proceedings should its members vote in favor of impeachment. Trump has called it a “witch hunt.”
Impeachment doesn’t remove the president from office, but initiates a trial in the Senate. Supreme Court Chief Justice John Roberts would preside over the process. Democrats, in this instance, would be the prosecutors, and Trump the defendant.
The full Senate would serve as the jury. Two-thirds of the Senate would need to find the president guilty of a “high misdemeanor, felony, or treason” for the commander-in-chief to be evicted from the White House.
PredictIt shares of the President being impeached in his first term are trading at 81 cents. But political bettors feel he’ll complete four years in office – “Yes” shares at 70 cents.
As for his reelection odds, bookmaker William Hill has Trump at 6/5 (+120). Massachusetts Sen. Elizabeth Warren is next at 11/4 (+275).