The second of three (planned) meetings of the China-EU trade and investment consultation mechanism took place on Thursday and Friday in Beijing, with the Chinese reporting that the meeting was productive, that the two sides “demonstrate willingness and wisdom to resolve trade differences through dialogue; progress reflects economic realities between two sides.”

That may be an exaggeration, as the agreements appear to continue to avoid the most difficult issues. An editorial in Global Times, reflecting government views, said: “The two sides engaged in pragmatic and productive discussions, reaching a 16-point consensus covering trade and investment balances, export controls, intellectual property rights and reform of the World Trade Organization (WTO)…. [T]his is a pragmatic step to properly handle bilateral differences and a crucial display of responsibility by China and the EU in injecting stability and certainty into the global economy amid turbulent times.”