Alice Han

appreciated its currency, facing pressure from the Americans to do so.

Similarly, we saw something happen between China and the US in 2016.

There was discussion about a Shanghai Accord.

Look, I think this could be a way in which China helps in the trade negotiations.

Because ultimately, Trump wants a weaker dollar, and he believes that currencies really drive trade imbalances, rightly or wrongly.

So again, we should watch this space because I think it's politically salient in the ongoing trade talks between Washington and Beijing.

Certainly this administration in the U.S.

cares a lot about currencies.

So we'll have to see if there is pressure put on the CNY.

Yeah, definitely.

Okay, let's take one last quick break and we'll be back with Patrick McGee.

So stay with us.

Well, welcome back.

We're joined now by journalist Patrick McGee.

He is the author of the fascinating book, Apple and China, the Capture of the World's Greatest Company, which was published earlier this year to widespread acclaim.

Patrick, thanks so much for joining us.

It seems quite fitting that you are our first guest.

I believe there is an FT connection with James as well, but you are the honorary first guest.

So welcome to China Decode.

Well, let's go straight into your book, which I am midway reading and I am absolutely loving it.