Recent diplomatic statements and scheduling have positioned China as the clear venue for the next Trump-Putin encounter. President Trump stated on November 8 that he expects to meet Russian President Vladimir Putin alongside Chinese President Xi Jinping on the sidelines of the APEC leaders’ summit in Shenzhen on November 18-19, following weeks of coordination that began with Putin’s October proposal for trilateral talks. Beijing has confirmed ongoing communications with both capitals, while U.S. and Russian officials have aligned on attendance at the China-hosted forum. This near-term convergence of official expectations, venue logistics, and high-level signals has driven trader consensus toward China at 94.5 percent. A last-minute cancellation or shift to another bilateral format before year-end remains possible but would require rapid reversal of public commitments already in place.