
The national flags of China and the United States.
U.S. and Chinese negotiators are scoping out new venues after the protest-wracked Chilean capital of Santiago canceled the Nov. 16-17 Asia-Pacific Economic Cooperation forum, where U.S. President Donald Trump and Chinese President Xi Jinping had been expected to endorse a so-called Phase 1 deal to allow White House and Beijing to justify another fragile cease-fire in their trade war. An alternative location for the two leaders is likely to emerge, giving both sides more time to shake out the details of what appears to be a lightweight compromise: Beijing has committed to around $20 billion in agricultural purchases in 2020 (around what it averaged before the trade war even started), is dusting off earlier pledges to boost intellectual property protections via an updated foreign investment law passed earlier this year, will make an additional symbolic pledge to avoid currency manipulation, and will partially liberalize its financial sector by lifting equity...