An article from Reuters discussing the position of the International Monetary Fund (IMF) is interesting.   Essentially the IMF is warning that “global economies” will contract by $455 billion next year due to the ongoing trade conflict between the U.S., China, the EU and to a lesser extent, Japan.  Yes Alice, there are hundreds of billions at stake.
There’s really no reason to doubt the amount estimated, though I think it’s on the short side, but the yearly value seems in line.  I have no doubt President Trump will cost the “Global Economy” $455 billion…. because that money will be transferring back to the America First economy. That’s what happens as MAGAnomics reverses the IMF trade (wealth distribution) model.

The IMF is correct in part (the effect), incorrect in part (the cause), and mostly hypocritical.  The Euro-minded IMF rails against the high value of the U.S. dollar, but simultaneously ignores the motives behind the intentional devaluation of currencies that are pegged against the dollar.

WASHINGTON (Reuters) – The International Monetary Fund said on Wednesday the U.S. dollar was overvalued by 6% to 12%, based on near-term economic fundamentals, while the euro, the Japanese yen and China’s yuan were seen as broadly in line with fundamentals.

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Jumping Ju-Ju bones. Wow.  The North Korean broadcast of the meeting between President Trump and Chairman Kim Jong-un has now been fully translated to English.
Initially, even without the translation, we could see the optimistic message and a mutual strategy that would align the interests of Chairman Kim and President Trump.  However, the translation is even better than anticipated.  The message to the North Korean people is not just optimism and propaganda, the message directly and purposefully conveys an incredibly strong message of respect for U.S. President Trump.  WATCH:

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Traditional propaganda messaging would convey great power and respect for Dear Leader Kim Jong-Un and a message of moderate diminishment toward the U.S. President.  This type of propaganda narrative is also what the U.S. Main Street Media had stated Kim Jong-un would use.  But they’re wrong… all of them.
The actual message conveyed to the citizens of North Korea is one of united celebration and magnanimous respect for Chairman Kim and President Trump.  The broadcast specifically cites “wisdom”, “respect” and praise for the “incredible courage” of President Donald J Trump.  Exactly the opposite message predicted by the DC naysayers.
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President Trump has completely reset the pre-existing hostile dynamic that existed between the U.S. and North Korea.  By focusing on the root cause of the issue, Beijing China, Trump has been able to reach a position with Kim Jong-un that seemed impossible two years ago.
All over southeast Asia the media reports are optimistic, positive and upbeat with the possibility of a generational crisis finally coming to an end.   President Trump is being called a hero bringing peace to Korea.

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The North Korean state-run media has broadcast the video below.
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The world was watching history being made and overnight millions of Americans stayed up to watch the first sitting U.S. president cross into North Korea.  President Trump and North Korea’s Chairman Kim Jong-un took a massive step toward deconfliction and peace.
An incredible moment.  WATCH:

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CTH doesn’t want to devalue the history of this moment by over analyzing the dynamic. This is an incredible moment in history as U.S. President Donald Trump carries the hopes of tens-of-millions toward a peaceful outcome in North Korea.
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Will there be an announcement about meeting Chairman Kim at the DMZ?   President Trump and South Korean President Moon Jae-in hold a joint presser at the conclusion of their bilateral discussions.  Start time 12:05am Eastern:
UPDATE: Video Added

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President Trump delivers remarks to a group of business and industry leaders in South Korea.  Some of the key quotes:  “It has been a great period of time for our two countries” –
“We re going to make a visit today to the DMZ with President Moon” – “Lots of good things are happening with North Korea” – “We have a very good relationship, the two of us” – “I understand they want to meet” (saying details were still being worked out as he spoke).
“I want to say hello” – “Let’s see what happens”  [A detailed transcript will follow]

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President Trump has tweeted the high-level status of the negotiation restart.  Essentially the outcome is as we expected.

• Trade talks resume from former stalled point. [Likely Vice-Premier Liu He is back representing Chairman Xi Jinping – Beijing retreat]
• Current enhanced tariff’s remain in place. [The tariffs that were raised when talks collapsed will remain raised and in force. – Beijing retreat]
• China resumes AG purchases. [Likely soy beans will be priority – Beijing retreat]
• U.S. will allow trade purchases, exports, to Huawei of non-National Security tech. [Ross likely to determine products – Trump modifies position]

From this summation it would appear President Trump has created an exit ramp for Chairman Xi Jinping that allows him to save face.  However, obviously with retention of the recent tariff increases the benefits beyond optics all favor President Trump.
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It’s looking like the handshake meeting between President Trump, South Korea’s Moon Jae-in and North Korea’s Kim Jong-un is going to happen. President Trump told traveling pool: “We’re gonna see. They’re working things out right now.” Apparently the details are in rapid resolve mode.
President Trump arrived with the U.S. entourage at the Blue House in South Korea, where a reception and dinner were planned by the host nation. LPGA champion Se-ri Park and members of the K-pop band Exo were also at the reception. Video:

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After the reception the President and delegation had dinner hosted by President Moon Jae-in. The main dish was a sirloin steak made of US beef, accompanied by bulgogi sauce, pickled garlic leaves and other side dishes. There were also 12 cold Korean starters on the official menu including steamed sea urchin with tofu and pan-fried mung beans.
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President Trump will be holding a press conference this morning as the G20 summit has concluded. The presser is scheduled for 2:30am EST in Osaka Japan. There are multiple media reports that President Trump and Chairman Xi Jinping have agreed to restart trade discussions.  This will likely be a primary focus of questions as the world is watching.
UPDATE: Video Added

With the pre-G20 magnanimous panda activity by China, there’s little doubt Chairman Xi will have offered a modification in DPRK influence in exchange for a some form of trade negotiations; likely now limited to the restart.  That would present a position where Vice-Chairman Liu He can reengage with the U.S. team (Lighthizer and Mnuchin).
It would make sense for President Trump to pause any further tariff action as an act of good faith if that move can get Kim Jong-Un released. It costs the U.S. position nothing.
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The event the world is waiting for happens at 10:30pm EST.  President Trump will be holding a bilateral meeting with Chinese Chairman Xi Jinping.
All eyes are turned towards Trump and Xi as they go into what could be one of the most significant meetings of the entire G20. The U.S. and China have seen increasing economic tensions as the two superpowers square off over tariffs and China’s questionable connections to their tech companies.
UPDATE: Video Added: In two visible signals: (1) Chairman Xi brings back Vice-Premier Liu He to the table, signaling potential concession. However, (2) President Trump brings U.S. Manufacturing Policy Advisor, Peter Navarro, the arch nemesis Beijing, signaling no compromise.

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[Transcript] PRESIDENT XI: (As interpreted.) Mr. President, let me make a few opening remarks.
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