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Sometimes, what doesn’t happen at major summits is almost as important as what does. The Trump-Xi summit was long on well-choreographed pageantry and symbolism, short on measurable results. Bringing a phalanx of top CEOs, U.S. President Donald Trump sought to parlay his bonhomie with Chinese President Xi Jinping into deals but got both more and less than what he bargained for.

Trump touted deals, some still vague, and claimed that he had gotten support on Iran. The meeting has been dismissed by many Asia hands and much of the media as “pomp and circumstance, signifying nothing.” China hawks fearful of concessions on Taiwan and tech were relieved by their apparent absence.

Sometimes, what doesn’t happen at major summits is almost as important as what does. The Trump-Xi summit was long on well-choreographed pageantry and symbolism, short on measurable results. Bringing a phalanx of top CEOs, U.S. President Donald Trump sought to parlay his bonhomie with Chinese President Xi Jinping into deals but got both more and less than what he bargained for.

Trump touted deals, some still vague, and claimed that he had gotten support on Iran. The meeting has been dismissed by many Asia hands and much of the media as “pomp and circumstance, signifying nothing.” China hawks fearful of concessions on Taiwan and tech were relieved by their apparent absence.

But this was more than just a holding operation; it may signal a significant shift in the way U.S. leaders approach China. Over time, the summit may be seen as part of a larger historical evolution, set to be played out by up to four follow-on meetings this year. Xi called it a new framework of “constructive strategic stability for three years and beyond.”

The timeline would lock in predictability and stability through Trump’s second term, a time-buying exercise with the hope of shaping a new trajectory at least to the medium term. Xi seems to recognize that Trump has unique problems and is trying to lock in a relationship advantageous to China that could persist beyond just this administration. For Trump, bogged down in Middle East entanglements,........

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