In Beijing’s worldview, everything’s connected. Kim Jong-un was in Beijing Tuesday talking strategy with Xi; there frankly won’t be a deal between North Korea and the U.S. without the Chinese leader’s blessing. So what does Trump want more: a “deal” with Kim Jong-un, or a fight with China? He’ll have to settle for one or the other—but not both. – Paul Brandus, MarketWatch

(QOTD = Quote of the Day)