Greer Says He Doesn't Expect Taiwan Issue to Affect Trade With China | The Asia Trade 5/15/2026
Speakers
Isaac Poole
— CIO, Ascalon Capital
Alicia Garcia Herrero
— Chief Asia Economist, Natixis
Summary
The video covers the Trump-Xi summit in Beijing, focusing on trade, Taiwan, AI, and markets. U.S. Trade Representative Jamieson Greer says Taiwan will not impact trade talks. The AI rally pushes global stocks higher, with KOSPI crossing 8000. Ascalon Capital CIO warns of stretched valuations and expects oil prices to rise.
- Trump and Xi meet in Beijing for a state visit with warm optics but sharp warnings on Taiwan.
- Trade deals include Boeing 200 jets and expectations of agricultural purchases.
- U.S. Trade Representative Greer says Taiwan issue will not bleed into trade talks.
- AI rally continues, S&P 500 above 7500 and KOSPI tops 8000.
- Ascalon Capital CIO warns KOSPI valuations are stretched and expects oil prices to rise.
- OpenAI CFO discusses compute and fundraising.
- Chinese AI chip stocks have stretched valuations despite weak fundamentals.
Ideas
KOSPI stretched, earnings challenge ahead.
KOSPI valuations are stretched as it pushes toward levels not seen often in 15 years; significant earnings growth acceleration is needed to justify current valuations, which may be a challenge over the next 6-12 months, making the index unattractive at current levels.
Oil prices set to rise.
Oil prices are being held artificially lower than they would otherwise be because China has been reducing exports, but as the Strait of Hormuz remains closed, imbalances will show through; producer price inflation already shows this coming through, and eventually economic fundamentals will become too clear to ignore, leading to higher oil prices.
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