Question: Washington will formally sign the first phase of the U.S.-China trade agreement on January 15. Negotiation of the second phase of the agreement will begin immediately. Is this the beginning of good sign for China?

Chan Kung: Trump has already prepared for the second stage of negotiations after his election. There will be more troubles later, and the timeframe that can be maintained is at most 4 years. This is almost an impossible and doubtful prospect.