Donald Trump has achieved his first global peace deal. China, Japan and South Korea have kissed and made up after years of trade quarrels. They have pledged to deepen ties and reorganise the Asian and global trading systems under what amounts to Chinese leadership. The picture blazoned across Asia's front pages " though barely registering in the US " showed the trade ministers of the three economic powers holding hands in a collective gesture of Asian defiance. It is one of the most striking economic defeats suffered by America that I have witnessed in more than 40 years covering international affairs. Trump's "liberation day" cuts two ways.