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U.S. President Donald Trump and Chinese President Xi Jinping arrive for a state dinner at the Great Hall of the People on November 9, 2017, in Beijing. Photo: Andrew Harnik / AP

President Trump's trip to China exemplifies what I call his "head of state" diplomacy: prioritizing personal relationships with his foreign counterparts.

Trump's style has been criticized, but it is starting to yield real results for U.S. business interests. The administration's announcement of $253 billion in trade deals marks a new record for a China trip and will make a significant dent in the trade deficit, which is running at $273 billion for the first nine months of 2017.

Yet it is market access for our most competitive industries that will ultimately restore balance to the relationship, and President Xi has started to make concessions. Restrictions on foreign investment are being phased out or lifted on banks, brokerages and asset-management companies. China also removed the requirement that foreign firms transfer their sensitive technologies before being approved for investing or partnering in China, which has been a hurdle for American companies, especially in the auto industry.

Why it matters: Over time, these policies will further integrate China into the international financial system and create greater opportunities for foreign firms to operate in the world's fastest-growing major economy.

Go deeper

28 mins ago - Technology

Facebook changes corporate name to Meta

Screen shot of CEO Mark Zuckerberg at the company's "Connect" virtual event

CEO Mark Zuckerberg on Thursday said the social media giant is renaming its company Meta.

Why it matters: The effort is meant to shift its image from a social media platform to a “metaverse” company that focuses on building virtual work and social communities.

Dan Primack, author of Pro Rata
1 hour ago - Economy & Business

Filings show Sweetgreen isn't profitable, despite claims

Illustration: Sarah Grillo/Axios

Restaurant chain Sweetgreen on Monday filed to go public, and revealed that it lost money in each year since 2014.

Why it matters: The company lied when it repeatedly told reporters it was profitable.

U.S. border cities again see low violent crime rates

Expand chart
Data: FBI, Kansas Bureau of Investigation, U.S. Census Bureau; Chart: Jared Whalen/Axios

Reported violent crime in the United States rose in 2020 for the first time in four years, but violent crime rates in 11 of the largest communities along the U.S.-Mexico border stayed below the national average, an Axios analysis found. 

Why it matters: Year after year, data showing low violent crime rates in majority-Mexican American and Mexican immigrant border communities dispels myths of the U.S.-Mexico border as a region filled with crime and chaos.