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VOL. 41 | NO. 45 | Friday, November 10, 2017
AP FACT CHECK: China-US business deals are largely gloss
BEIJING (AP) — U.S. and Chinese officials have signed a seemingly significant package of trade and investment deals during President Donald Trump's visit. They say it's worth more than $250 billion.
But an AP Fact Check finds that the package is more about the art of diplomacy than the art of the deal.
It draws together some new orders, previously worked-out deals, tentative investments and statements of intent that may or may not turn into new dollars and jobs.
Such signing ceremonies in China are often just that: ceremonial. They typically represent purchases that Chinese customers already planned to make and waited to announce.
The signings are a fixture of visits by foreign leaders, meant to blunt their complaints about China's trade surpluses and market barriers.