China has just signed a trade agreement with its rebellious, capitalist province, Taiwan, which has major long term implications for the rest of us.

The deal has China chopping import duties on 500 goods from Taiwan worth $13.8 billion, while the errant island nation is doing the same for 267 items shipped from the mainland worth $3 billion.

The move is a major step towards more rapprochement between the two former antagonists, and will lead to a