China is losing a lot more than we are, despite the AP’s well spun headline.
Weakness in global demand for Chinese goods has increased pressure on the ruling Communist Party to make peace with Washington at a time when Beijing is trying to reverse an economic downturn. The government has warned Chinese exporters the global environment is “complicated and severe.”
“The downbeat outlook for global growth means that this year is likely to be challenging for Chinese exporters, even if the ongoing U.S.-China trade negotiations culminate in a deal,” said Julian Evans-Pritchard of Capital Economics in a report.
Looks like the ChiComs are nervous.
Of course, not everyone agrees: