An 856-word meeting transcript is called unprecedented! Coal and rare earths all deleted, fentanyl mentions changed from 21 people to dozens on both sides, Taiwan issue softened from 'must' to 'hope', Trump gave nothing, all 19 Chinese attendees at the state dinner were officials, the biggest landmine is Russian oil which wasn't even mentioned in the eight points! Xi Jinping only cares about the Fifth Plenary Session

This article analyzes the outcome documents and consensus lists released by both sides after the summit between the heads of state of China and the US. It points out that the official meeting readout released by the Chinese Communist Party set a historical record for the shortest length, while in the US list, demands regarding energy, coal, and rare earths were deleted or omitted, the phrasing on fentanyl was rewritten, and the wording on the Taiwan issue was significantly softened. Meanwhile, the article examines the state banquet where no business representatives from the Chinese side attended, the tariff extension to January 10, the potential risks of Russian oil sanctions, and the background of China's domestic economy and the Fifth Plenary Session.

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Observe things as they are, reject fragmented understanding. Just the day before, Xinhua News Agency published a consensus on eight points of agreement reached between China and the US. This timing is particularly interesting. The flash report by Xinhua News Agency about Emperor You Xi returning to Beijing was forwarded by China News Service at 3:40, meaning that roughly ten minutes after Emperor You Xi returned to Beijing, this eight-point consensus came out. However, the White House's list of outcomes had already been posted on the official White House website at 11:30 that same day. Trump put out a full fifteen points in one breath, and after Trump's fifteen points came out, the CCP waited a full four hours before releasing theirs. But when it finally came out, only eight points remained. For the same meeting, the Chinese and US sides each issuing their own documents has actually become commonplace. Therefore, the places where the two documents do not match are what makes this meeting interesting. Let's look at who released first. On the morning of September 24, after Emperor You Xi and Trump finished talking at the White House, Xinhua News Agency's meeting readout was published immediately, with a total length of a mere 856 characters. I pulled out and compared all the verifiable China-US summits from the past ten times, and among all meeting readouts, this one directly broke the record for the shortest in history.

Although the length is short, the tone is certainly not low. How was it characterized? It was called unprecedented. What else can be said? One can only say that Xinhua News Agency's choice of words this time was accurate. Traveling such a long way, staying for three days, and negotiating a two-month extension. If you, this fucking idiot Xi Jinping, had stayed three more days, maybe you could have extended it for four months. Is the extension time directly proportional to the time this fucking brother spent in the United States? That's 60 days divided by 3 days equals 20 times—one day of staying traded for twenty days of extension, why wouldn't that be unprecedented? Then Xinhua News Agency, whether it should be said or not, quickly stepped into Trump's perspective and role, even saying something on behalf of Trump: Under our leadership, US-China relations will definitely be managed well. And the US? This time it was rather unusual; the White House didn't issue a meeting record at all. When Trump went to Beijing in May, the White House did issue such a meeting record, but this time there was truly none, until around 11:30 PM Eastern Time on Friday when the first outcome list was released. Then the CCP didn't release its own list until Emperor You Xi's plane flew back to Beijing. To put it bluntly, the tone-setting draft was released by the CCP first, but the outcome list was released by Trump first, and then after reading that list from the CCP, what kind of feeling does it leave people with?

It feels a bit like the list was edited based on the U.S. version. Anyone who has studied metaphysics should know the saying that "heavenly secrets are hidden in the gaps"; where things are deleted, there must be significant information. So, what was deleted? Everything in the White House list that expected the CCP to foot the bill disappeared after Trump returned to Beijing. Let's break it down point by point and see how these U.S. demands were wiped out by the CCP. Trump must have been driven a bit crazy by current energy prices; the list started with energy. Trump urged Xi Jinping to increase the production of refined oil products to stabilize global supply. But that point is missing from the CCP's eight-point list. Then, there was the U.S. demand regarding coal: requiring China to import at least 10 million tons of U.S. coal annually between 2027 and 2028. That is also absent from the CCP's eight points. Next is the rare earth issue; the White House wrote that China and the U.S. would continue to address U.S. concerns regarding supply shortages of rare earths and critical minerals, with the goal of returning shipment volumes to appropriate levels. That is also missing from the CCP's eight-point consensus. The remaining points were kept, but the wording was changed.

However, the White House wrote that China, based on information provided by U.S. law enforcement, arrested 21 people suspected of drug manufacturing this August, and these suspects were all Chinese. This is actually about the fentanyl issue. The White House specifically added a sentence encouraging the imposition of maximum sentences, including the death penalty. In the CCP's eight points, this turned into "close cooperation between both sides." How was it phrased? It said they "jointly cracked multiple cases" and mentioned that "dozens of suspects were arrested in both countries." But what did the U.S. provide? Those 21 people were all Chinese residents; the CCP wrote it as if both countries arrested dozens of people together. Counting them up, there were six items in the White House list that China was supposed to handle alone; the CCP deleted three, and for the remaining three, they either changed them to "joint efforts" or kept the U.S. as the subject. You be the judge. The subjects at the beginning of the sentences are quite interesting; except for the one about the two militaries—the part discussing World War II—not a single sentence uses the CCP as the sole subject. The funniest part is the artificial intelligence issue. Trump posted on his social media on the morning of the 25th, saying something like:

He said Xi Jinping seems to like changing the name "artificial intelligence" to "super intelligence," so the White House list simply wrote that the two heads of state agreed to use the term "super intelligence" instead of "artificial intelligence" in the future, and established a U.S.-China Super Intelligence Dialogue. Trump wanted to play along with the CCP, but the CCP didn't cooperate with Trump, resulting in a total mismatch. How was it a mismatch? The CCP's eight points still wrote "U.S.-China Artificial Intelligence Dialogue." When a reporter asked the Foreign Ministry spokesperson about this on the 26th, the answer was: China attaches importance to the U.S. position and respects the U.S. phrasing; all parties can strengthen exchanges, conduct in-depth discussions, and seek consensus in light of the latest situation. What does "seeking consensus" mean? In the CCP's context, it means there is no consensus. The U.S. wrote that they "have agreed." The CCP wrote that they are "still discussing." For the same event, the two documents say different things. There is also a huge gap in the wording here. Take the $30 billion tariff reduction issue; everyone knows about it, right? The CCP wrote that they reached a reciprocal tariff reduction arrangement of $30 billion, implying it's a done deal. But the White House wrote that under the framework of the Trade Council, both sides reached a consensus at the recommendation level regarding more favorable tariff treatment for $30 billion worth of non-sensitive goods.

What was the English word used in the White House document? It used the word "recommendation." Isn't that word "recommendation" also quite interesting? Didn't that old dog Wang Yi write a summary? In this summary, he also admitted that this joint arrangement was negotiated before the visit, not during the meeting. The funniest part is that Wang Yi wrote over 4,000 characters, but the section on economic and trade achievements was only 110 characters long, while the sections on giant pandas and Yue opera combined totaled 154 characters—more than the fucking economy and trade. From this, what can we see? Are there any economic and trade achievements? There isn't a damn thing; it's not even as good as the giant pandas.

Alright, I will continue to talk about the Taiwan issue that everyone is most concerned about. Many people say that Taiwan disappeared from the announcement this time, but this statement is actually not accurate. The Xinhua News Agency's transcript of the talks mentions Taiwan, and Wang Yi's article also mentions Taiwan. Where is the place where not a single word is mentioned? It's in the CCP's eight-point consensus. This time, they didn't shamelessly write it in. But even the few sentences in the CCP's transcript that mention Taiwan are much softer compared to May. When Trump was in Beijing in May, what was Xinhua's original wording? It was: "The Taiwan issue is the most important issue in U.S.-China relations; if handled poorly, the two countries will collide or even conflict." This was a somewhat threatening statement. Then it urged the U.S. to handle the Taiwan issue with extreme caution. But this time, the entire tone has changed. How did they put it? They called it: "China's position on safeguarding national unity and territorial integrity is very clear; we hope the U.S. will adhere to the correct position of opposing Taiwan independence and handle the Taiwan issue cautiously." Look, the words "must" changed to "hope," and the words "collision" and "conflict" are completely gone. The word count for the Taiwan-related section was 110 characters in May; this time it's only 69 characters, and not a single word was mentioned in the eight achievements.

Does this mean the Chinese Communist Party (CCP) has stopped bragging? Not at all; this part is actually quite interesting. What makes it so interesting? The interesting part is that the official CCP press release was probably reviewed by the leadership team beforehand, so the wording is relatively restrained. However, faced with strong propaganda, the CCP damn well propped itself up again and started blowing its own horn without reservation. The next day, that old dog Wang Yi wrote a summary draft, changing hope in the official press release to urge, and changing laying a solid foundation for the development of bilateral relations to eliminating interference. The version republished by the Taiwan Affairs Office straight-up started bragging, with the headline directly stating that Xi Jinping said the US side should handle the Taiwan question with caution. It wasn't until the commentary on page two of the People’s Daily on September 26 that the old cliché was brought out again: the Taiwan question is the core of the core of China's core interests, and an uncrossable red line in China-US relations—so the red carpet was rolled out once more. Anyway, if you watch them, they act all honest and well-behaved; look away, and they immediately turn around and brag. So, did everyone notice? The narrative presented to Americans is the softest; while the bragging aimed at domestic citizens gets harder layer by layer.

Why is the narrative in front of Americans so soft? The key lies in a single word. Xinhua News Agency wrote that it hopes the US side will adhere to the correct stance of opposing Taiwan independence. What does the word adhere mean? It means the US already opposes Taiwan independence, so you just need to keep adhering to it. Yet the official US stance has always been not supporting Taiwan independence, not opposing it. US Ambassador to China Nicholas Burns was very blunt in his CNBC interview on the 25th, stating that US policy toward Taiwan has not changed at all, and he added that the CCP has constantly tried to pressure us into changing our stance on this matter, but we firmly refuse to change our wording. This remark laid bare exactly what the CCP wants. What the CCP wants is to change not supporting into opposing. But this time old Trump didn't pay any attention to this matter at all and didn't mention it whatsoever. There is another detail that illustrates the point even better: starting from that phone call last October, Xinhua has inserted a remark on Taiwan into Trump's section every single time. What did the press release on November 24 last year write? It wrote that the US side understands the importance of the Taiwan question to China. How was the press release on February 4 this year written?

It wrote that Trump said I attach importance to China's concerns on the Taiwan question. Who knows if he actually said it? Then came the Beijing Xi-Trump summit in May, where he stated that during the meeting we felt that the US side neither identifies with nor accepts Taiwan moving toward independence. This time, in all CCP documents, there was not a single statement on Taiwan attributed to the US side or old Trump—the first time since last November that not even a single sentence could be inserted. Therefore, my assessment is that Trump genuinely gave away nothing behind closed doors, and most likely didn't even dignify it with a response. But content concerning Taiwan didn't actually disappear; it just moved to another place, which is the CCP bragging without restraint. How is the fourth of these eight points written? It says the two heads of state, along with the World War II allies of China and the United States, fought side by side and won the victory in the war. The White House also wrote this, but the White House immediately followed this sentence with an addition. What was added? That since World War II, the US forward military presence has maintained a free and open Indo-Pacific. And where did the CCP lead this World War II reference? It led it toward the post-war international order. What did that old dog Wang Yi's article write?

It wrote about safeguarding the post-war international order and preventing the resurgence of militarism. Who is this remark aimed at? Obviously Japan. To take it a step further, what the hell kind of comradeship was there between the US and the CCP during World War II? Your damn Communist forces were still part of the Nationalist military sequence at the time, and any fighting was done by the Republic of China. It's fine for Taiwan to say such things, but you CCP folks shamelessly lick your faces—is it appropriate for you to say this? Ah, let's move on down. Didn't this fucking idiot, Emperor You Xi—or rather, this old rascal—make a phone call on November 24 last year? Exactly what they chatted about is unclear, but Xinhua's subsequent readout stated that Emperor You Xi emphasized that Taiwan's return to China is an important component of the post-war international order. So what did Wang Yi's bullshit reference to the post-war order connect to? It connected to the remarks dropped by this fucking idiot Emperor You Xi on October 24 last year. Actually, there's nothing wrong with that statement either—it was returned, returned to the Republic of China. Who are all the historical documents pointing to? Even if you, the fucking idiot Xi Jinping, are illiterate, surely there must be literate people under your command? The historical documents of that era from beginning to end all returned sovereignty to the Republic of China. So you see, the context of the exact same sentence about World War II allies connects in completely opposite ways on both sides.

And what about that respect? The very first of these eight consensus points states: a constructive, strategic, stable China-US relationship based on respect, fairness, and reciprocity. The White House also wrote respect, and then this old geezer Wang Yi specifically explained—what did he explain? He said that respect means respecting each other's sovereignty and territorial integrity, respecting each other's core interests and major concerns, and Taiwan is right inside those core interests. You fucking make things up, literally chewing on iron wire and making it up right on the spot out of thin air. Damn it! The White House didn't explain the word respect by even a single character, and besides, within this respect, I think there is another layer of meaning: treating you like air, so you can fucking say whatever the hell you want. For example, when we see a statement we don't agree with, we just respect it; in essence, it's just to avoid wasting saliva on you.

Let's talk about that shocking incident again. There was actually an episode in between, you could call it gossip: not a single entrepreneur from the Chinese Communist Party (CCP) attended the White House state dinner. Back on September 4, Reuters published an exclusive report claiming that Emperor You Xi was preparing a large delegation of entrepreneurs to travel with him to the United States. Reuters itself noted that this was quite rare, given that the U.S. is wary of Chinese investments and the CCP's relationship with private enterprises is tense. On the 18th, Reuters reported again that the list was being finalized with the U.S. side, with candidates under consideration including BYD, Xiaomi, CATL, Hisense, Bank of China, and state-owned enterprises like COFCO. By the 23rd, Reuters' story changed, stating that Emperor You Xi was no longer taking a delegation of entrepreneurs to Washington. Sources said that because Old Trump had other priorities, U.S. officials also did not want to be seen as associated with CCP enterprises, especially since the midterms were still ongoing. Actually, when I first saw this news, the probability was high that it was either fake or a smoke screen, because a quick check reveals the truth: CATL in January of last year and BYD in June of this year were both placed on the Pentagon's list of Chinese military enterprises. Then, on the 24th, the South China Morning Post ran another report. What was it about? It said that several Chinese corporate executives didn't travel with the delegation, but flew to the U.S. on their own to wait in Washington for an invitation to the state dinner. Whether they could get in was tied to the negotiations involving Bessent and He Lifeng. Finally, AFP was quite bored and went head-counting. The result? There were a total of 134 guests at the state dinner, with 19 from the Chinese side—aside from family members, they were all officials, and not a single entrepreneur. On the American side, however, there were entrepreneurs: people like Jensen Huang, Musk, Cook, Zaslav, and Altman all went. When Old Trump went to Beijing in May, American entrepreneurs arrived alongside Trump, which is why that old dog Wang Yi couldn't help but complain in his summary article. What did he complain about? He claimed that certain forces on the U.S. side were suppressing Chinese-funded enterprises in the U.S. and restricting Chinese investment in America. Put bluntly, American bosses sat at the head table eating with Emperor You Xi, while Chinese bosses in Washington waited forever without getting an invitation, with not a single person on the guest list. This is why the CCP's eight-point consensus lists fairness and reciprocity as the very first item.

Now let's get back to that tariff delayed to January 10—what's the significance behind it? Let's look at the calendar: November 18 and 19 are the APEC leaders' meeting in Shenzhen, and Old Zheng posted himself that they would meet in China in November. This is closely followed by the G20 summit in Miami on December 14 and 15, and then comes the deadline, which is January 10. If you arrange this timeline, it becomes very clear. What used to be a single date on October 10 has now been split into two summits. Why split it this way? Well, every time they meet, they check how China's delivery of goods is going. And what goods are those? The White House list specifies tangible things like coal and rare earths, especially demanding that rare earths return to appropriate levels. What is the level right now? In August, China's exports of rare earth magnets to the U.S. were 512 tons, down 21 percent compared to July. This year's monthly average is roughly 504 tons, while the 2024 monthly average was 621 tons, a difference of nearly 20 percent. What the U.S. wants is to make up for that missing 20 percent, while what the U.S. concedes is a temporary pause in rare earth shipments. Once resumed, the U.S. side can take advantage of that period to stockpile some goods. There is another date everyone should also keep in mind: the U.S. Department of Defense regulation banning Chinese rare earths in supply chains is set to take effect on January 1, 2027, which is nine days earlier than January 10. In other words, the room the CCP has to force U.S. concessions using rare earths is shrinking day by day.

Where will the real game be played over these three months? Not on the tariffs between the two countries, nor even on the rare earths from the Chinese Communist Party (CCP). Let's look at the data: from January to July this year, U.S. imports of goods from China totaled $156.4 billion, a 19.4% decrease compared to the same period last year. Ah, this is U.S. data, and its share of U.S. imports has dropped to just 7.5%. However, during the exact same period, U.S. imports from Vietnam increased by 42.8%, imports from Malaysia increased by 36.9%, and imports from Mexico increased by 16%. In other words, the volume of goods hasn't decreased; they are simply being rerouted. The bureaucrats in Washington know this like the back of their hands—the CCP is definitely laundering the country of origin. On August 13, the White House Office of Trade and Manufacturing Policy issued a report stating that goods from China entering the United States via rerouting could reach as high as $303 billion, even estimating the exact figures for you. What is the U.S. approach now? To change the determination standards for third-country origin laundering. In the trade agreement signed between Malaysia and the United States, it is explicitly written—what does it say? Malaysia must follow U.S. export controls and sanction lists, and furthermore, focus on cracking down on transshipment. Starting January 1 of this year, Mexico began imposing additional tariffs on countries that have not signed free trade agreements with it, covering a total of 1,463 tariff lines. The tax rates range from 5% to 50%, and they are primarily aimed at China. From January to June of this year, Mexico's import volume from China was a full 26.3% lower than the same period last year.

There is another financial frontline. On September 18, old Trump signed a piece of legislation called the Graham Sanctions on Russia and Iran Act. The law requires the president within thirty days—that is, before October 18—to impose tariffs of up to 100% on the top five countries buying Russian crude oil and natural gas, plus the top five countries helping Russia evade sanctions. However, there is a waiver clause inside; what is the waiver clause? It means the president can grant waivers based on national interest. This provision primarily points straight at the CCP, because when it comes to evading sanctions and secretly helping Russia, the CCP and Chinese people undoubtedly rank number one. Furthermore, this time old Trump was authorized by Congress. According to statistics from the Centre for Research on Energy and Clean Air, since the Russia-Ukraine war, the CCP has bought half of Russia's exported crude oil. Then, if you compare the CCP's list with the White House's list, the CCP's eight points didn't even mention the word "Russia" once. Therefore, I judge that the place most likely to blow up before January 10 is not tariffs, nor even rare earths, but quite possibly this very law.

As for chips, Greller made things very clear. He said high-end chips are the crown jewel of U.S. technology, so in this round of negotiations, not a single hair of an agreement was reached. Finally, getting back to the CCP itself, before the trip, on September 21, the Political Bureau held a meeting and scheduled the Fifth Plenary Session from October 26 to 29, with the agenda still being that fucking strict party governance. On the very same day, Xinhua News Agency released the broadcast regarding the expulsion of Zhang and Liu from the party and the military. Everyone, savor this sequence: first, they solid-proofed and convicted two top military figures domestically, and immediately after came the globally watched summit between Trump and Xi, while in that old dog Wang Yi's 4,000-word piece of nonsense, over 30% of it was written about protocol treatment, and it even specifically included a sentence stating that that fucking idiot Xi Jinping's statesman-like confidence left a deep impression on all sectors of the United States. Look at everything from what Xi did to what that old dog Wang Yi said—are these meant for Americans to see? Definitely not. Therefore, Zhang Youxia, Liu Zhenli, and the protocol treatment for Xi's visit to the United States were just appetizers for the Fifth Plenary Session, and the intended audience was none other than this bunch of party thugs inside the CCP. Nothing else, because economically there is simply nothing left to say.

Let's talk about the economy. Does everyone remember what was said at the Politburo meeting on July 30th? They said they would introduce incremental policies in a timely manner and step up counter-cyclical adjustments. Afterwards, we came out to debunk the rumors for the CCP. There is no such thing as counter-cyclical adjustments; the Chinese economy doesn't even have a cycle anymore, so what the fuck are you adjusting against? There is no economic structure left, so what the fuck are you regulating? And what was the result? To this day, there has been no reserve requirement ratio cut, no interest rate cut, and the Loan Prime Rate (LPR) hasn't moved for sixteen consecutive months. The State Council executive meetings and Politburo meetings in September had absolutely no deployment for total growth stabilization; they didn't even fucking mention it. Why didn't they? The people in the CCP know very well that whatever you push now is useless, because without a structure, there is no cycle. Currently, the only thing left in China's economic structure is the export sector; this is the only economic department of the CCP that is still alive. From January to August, according to the CCP's own figures, the trade surplus in goods reached 805.5 billion USD, which is the highest for the same period in history. But the actual export growth, as I have calculated for everyone, is only between 3% and 4%. And what is the situation domestically? From January to August, household loans decreased by a full 1.03 trillion yuan; ordinary people are still paying off debts and simply aren't borrowing money. The Chinese economy is entirely built on the foundation of monetary leverage; without monetary leverage, a strong economy cannot possibly have growth. Where was the previous monetary leverage? Real estate. But real estate development investment has fallen by a full 19.9%, roughly 20%, and land sale revenue is even more miserable to look at. Then, in August, the unemployment rate for the 16-24 age group excluding students, according to the CCP's own data, reached 18.9%. The actual situation must exceed 30%, and that is the most conservative estimate. As for fiscal matters? From January to August, general public budget revenue grew by 5.7%, while expenditure only grew by 1.2%. Even the fucking CCP itself doesn't dare to invest or spend money; revenue is growing much faster than expenditure.

What does this indicate? The CCP must desperately protect exports, not for any other reason, but because it has no choice. So, what did the CCP actually buy at this meeting? What the CCP gave up externally was coal and rare earths, arresting people according to U.S. intelligence, and shutting up about the wording on Taiwan. You can go back and brag all you want, but in international texts, you fucking dare not brag. At the same time, have you all noticed? The CCP's tone regarding the war in Iran has also fucking softened. It can be said that the change regarding Iran is the biggest. At the time of the Trump-Xi meeting in May, how was the CCP's meeting transcript written? It said they exchanged views on the Middle East situation. At that time, Trump spoke on behalf of that idiot Emperor You Xi, stating that he opposed the militarization of the strait and any tolls. It was cited through the White House at the time, and the cited sentence was "Iran can never have a nuclear weapon," but this sentence did not appear in the CCP's consensus. However, in this eight-point consensus of the CCP, for the first time, an Iran clause was written in with the agreement of the two heads of state. This is all what the U.S. wanted, really, really. I think that for a meeting to turn out like this, and for the CCP to still be able to keep its voice down and brag about it, this mentality is truly beyond words. Now, Emperor You Xi's mentality is also very clear; he has no heart for these things at all. For him, what is his mentality now? It's just that before dealing with the mess inside the CCP, he just wants no trouble outside. As for after January 10th, that's a matter for the next act. Emperor You Xi, keep accelerating; I'm rooting for you.