This week, a US business delegation led by FedEx CEO Rajesh Subramaniam is meeting with Chinese representatives as part of trade negotiations.
Delegation's Purpose and Impact
The delegation, organized by the US-China Business Council, includes executives from companies like Boeing. The main goal of the meetings is to re-engage and improve business conditions. Participants such as USCBC President Sean Stein have substantial experience in US-China relations.
Economic and Financial Implications
The delegation's visit focuses on broader economic ties rather than specific industries, such as crypto. Previous visits have had limited impacts on major crypto assets or protocols. Market responses remain minimal, and no significant real-time impact on cryptocurrencies like BTC or ETH has been observed. The visit is seen as 'routine business diplomacy.'
Expectations and Long-term Prospects
As the implications of the visit become clearer, it is expected to lead to improved economic relations with no immediate regulatory changes. Historically, diplomatic visits primarily bolster dialogue, with limited direct financial effects. The focus remains on long-term market access improvements.
The visit of the US business delegation to China highlights the importance of restoring business relations between the two countries, despite the absence of new agreements or funding.
