The US and China Are Trying to Calm Waters

We're in a geo-politically and geo-economically incredibly fragile volatile period. We're getting signals from Treasury that they don't expect any breakthroughs on any of the different fronts. So we want to calm waters. The US wants to calm waters, certainly Biden doesn't want a crisis on top of the Russia crisis when he goes into an election year. And from the China side, they have to put a floor under their economic decline and start building up once again.