“China was being hurt very badly.” According to Donald Trump, the 90-day trade truce between America and China is a win for his administration and its tactics of kamikaze trade escalation. The view inside China is the exact opposite: America, faced with tanking markets and upset consumers, blinked. The truce is seen as a national triumph that has secured concessions, confirmed America’s low pain tolerance, raised gdp forecasts and made China a hero in the global south.
The Economist
