Financial Times opines that although investors have become increasingly optimistic about the US-China trade negotiations, there are many "structural issues" concerning the Chinese economic model still to be solved. Recent reports suggest that China has made a dramatic proposal to address the central issue of imbalanced trade. This would eliminate entirely its bilateral trade surplus with America within six years...Although fraught with difficulties, a new trade agreement to restore peace between the US and China by focusing on higher US exports as the main vehicle to close the bilateral imbalance would probably be better than a tariff war, for both global demand and supply chains. But the negotiators are stuck in a "second best" world. An export purchase plan would be hard to implement and could create problems elsewhere in the global trade and financial system. A rising dollar could undermine the whole plan. The "first best" system would involve global free trade and flexible exchange rates on a multilateral basis. But that does not appear to be on the agenda, while President "I happen to like tariffs" Trump remains at the helm. 

CNBC reports that the United States is lagging behind China in promoting its 5G technologies across the world, with officials only just "waking up" to its potential, a former U.S. national security advisor told CNBC Sunday. "In the marketing of it we are behind," General James Jones — who served as an advisor to former President Barack Obama and as supreme allied commander of NATO forces in Europe during George W. Bush's presidency — told CNBC's Hadley Gamble. Speaking at the Munich Security Conference, he said that subsidies from the Chinese government had allowed the Asian nation to get ahead and produce technologies that were cheaper. Superfast 5G mobile internet is expected to revolutionize the digital economy by enabling new technologies such as self-driving cars and the Internet of Things (IoT). Jones said that 5G would be the "most disruptive technology that's going to come our way probably in this century."