An old photo of a friendly handshake between Mao Zedong and Richard Nixon, back in 1972 during the Cold War period when they were both leaders of China and the US.

47 years later, we have Xi Jinping and Donald Trump during the Trade War period – as the news of delayed tariffs teased the possibility of a trade war détente.

A trade war detente is the right step to good bilateral relations, and even more so for economies. Markets have been rallying for the past week.