[NYPost] With China still running a record trade surplus with the US, it seems premature — to say the least — to say that Trump has won his long-overdue trade war with China.
But it is not too early to conclude that, despite their threat of retaliatory tariffs, China’s Communist authorities know that they have lost.
The increased tariffs to date, combined with the threat of more, have already clipped the wings of China’s economic rise. Its stock market is down 21 percent year over year, industrial output is slowing and its currency is weakening.
Looking beyond the bluff and bluster emanating from Beijing, there is evidence that Party leader Xi Jinping is looking for a way to stand down.
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