Frenemies: "China May Be Exporting Two Pandas, But It Would Much Rather Export Millions Of Cars"
By Molly Schwartz, cros-aset macro strategist at Rabobank
Frenemies
The US-China summit officially began after Xi arrived in Washington, DC, late on Wednesday. Topics including trade, the Strait of Hormuz, and the AI (AGI?) races are expected to arise, but little tangible progress is anticipated.
After all that, Trump and Xi agreed to... rename AI to SI https://t.co/gLaNhLT18I pic.twitter.com/YZ9s2pvGBA
— zerohedge (@zerohedge) September 25, 2026
Instead, the goal is to “prevent something very bad from happening.” Frenemies, Xi and Trump, hailed “healthy competition,” rather than competition “in which one wins and one loses.” In a show of friendship (frenemyship?), China is sending two giant pandas, Ping Ping and Fu Shuang, to Zoo Atlanta. According to Politico, “one person close to the White House” said: “Trump likes to be like, ‘oh, we get along great,’ and it’s like, okay, well, at the same time, these guys are a massive threat to us. We’re in an AI race with them. They’re supplying Iranians with intelligence and weapons…He’s missing the message here. No one cares whether you’re friends with the guy ...
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