Against all odds and speculations, there have been ‘good talks’ that have been on-going between President Donald Trump and President Xi Jinping. The two superpowers have been having a stand-off for some time now, with neither of them taking responsibility to play the role of the gentle man.
However, despite the ongoing differences in opinion between the two countries, it seems that the superiority contest could now be a thing of the past. According to one article appearing in the news section of the casino.org online print, last week, during Macau’s 20th-anniversary celebration, the two presidents are said to have sat down and had trade talks that could see their stifle lessen.
After the talks, Trump tweeted saying that he was just from having a talk with his counterpart President Xi, concerning trade between the two countries. He also added saying that China had already started on the agreement by purchasing large scale agricultural products plus others. The formal signing of the agreement is already in progress. North Korea was also part of the talks.
Hong Kong, the only other Special Administrative Region, has been experiencing protests since June of this year. This was after an extradition bill was passed, which the citizens saw as an attempt of the mainland to gain more powers over the region. So far, the protests have not gotten to Macau, something that President Xi praised.
However, Xi went ahead to blame the US for playing a part in the ongoing protests. He claimed the US has been putting its nose in Hong Kong and Macau’s affairs. In response to Trump’s tweet, China’s state news agency said that Xi had noted the interference of the US in China’s affairs. He added that this had caused distrust between the two states and highly affected any form of deal they might have forged.
Macau’s economy is greatly dependent on gaming. It is home to many gaming venues, most of which are owned by Americans. Three out of the six licensed gaming operators in Macau are American companies, with rumors that two of them have close ties with Trump.
It is said that all the six gaming operators are set to have their permits expire come 2022. Xi might use the renewal of the licenses as a bargaining tool in his trade talks with Trump. However, economic analysts agree that that the US companies should be treated the same as those from China.
Xi’s visit to Macau during the 20th-anniversary celebrations has been predicted to cause harm to the gaming industry. During this time, there is heightened security in the gaming island while the number of visas issued is limited.
This will see a decreased number of tourists coming into Macau, with consequent reduction in gaming activities thus reduction in gaming revenue. Analysts in the gaming industry have already predicted a 15 percent decline in profits as compared to the same period last year.
