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Ahead of the G-20 summit, both the United States and China are signaling a potential agreement to back off the budding trade war. President Donald Trump reportedly may delay scheduled tariffs on Chinese goods, and Beijing has provided more market access to international insurance companies. But there are many issues that still need to be resolved, including intellectual property rights, illegal subsidies and regulatory unpredictability. So is China really open for business? And what do Western firms need from China that they're not getting?

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Follow Scott Tong at @tongscott