Wall Street is cheering as trade talks with China progress. A full-on trade war may be averted. Is this reason to celebrate?

While it’s always good to avoid any kind of war, there is still reason to be concerned. Two very different nations with different economies still have to come to some kind of terms over the long haul. More to the point, it’s not about the differences in the economies but different approaches to very basic aspects of being a nation-state, including law.

Leaders sitting down and working out a deal seems like a good thing. But as always, the nature of the deal itself is very important.

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