Shanghai an inspiring venue for trade talks

As the trade negotiators of China and the United States gather in Shanghai on Tuesday and Wednesday to resume their talks aimed at ending the ongoing tariff war the mood surrounding them is palpably more subdued than it was ahead of the previous round of talks in May.

Patience is needed because the shortening odds that they would be able to navigate their way to a deal last time around were dashed on the wrecking reefs of seeming intransigent differences on a number of key issues, and the subsequent rhetoric from both sides that they are willing to out-wait the other.

That the two sides have returned to the negotiating table is a positive sign that they still want to strike a deal. After all, they both know neither will be the winner in a full-blown trade war. Recognizing that fact, they should demonstrate a shared willingness to find, if not a clean-sweep solution, at least a way out of the current deadlock.