Gordon Chang

I mean, Xi Jinping can make concessions and say, I'm never going to honor them, but that would be the rational thing to do, to get Trump to say yes to something. But C can't pick up the phone. And that's because he's boxed himself in.

I mean, Xi Jinping can make concessions and say, I'm never going to honor them, but that would be the rational thing to do, to get Trump to say yes to something. But C can't pick up the phone. And that's because he's boxed himself in.

I mean, Xi Jinping can make concessions and say, I'm never going to honor them, but that would be the rational thing to do, to get Trump to say yes to something. But C can't pick up the phone. And that's because he's boxed himself in.

Xi Jinping has declared the US to be China's enemy. They did that in May 2019 with a landmark editorial in People's Daily, which declared a, quote unquote, people's war on us. That is a phrase which has great resonance in Communist Party history. It's total war. So if you believe that you're in total war with an enemy, that you're in an existential struggle,

Xi Jinping has declared the US to be China's enemy. They did that in May 2019 with a landmark editorial in People's Daily, which declared a, quote unquote, people's war on us. That is a phrase which has great resonance in Communist Party history. It's total war. So if you believe that you're in total war with an enemy, that you're in an existential struggle,

Xi Jinping has declared the US to be China's enemy. They did that in May 2019 with a landmark editorial in People's Daily, which declared a, quote unquote, people's war on us. That is a phrase which has great resonance in Communist Party history. It's total war. So if you believe that you're in total war with an enemy, that you're in an existential struggle,

How can you make concessions to that enemy? Your position is you've got to defeat them. You've got to destroy them. You can't sort of make nice to them. You can't make big agreements with them.

How can you make concessions to that enemy? Your position is you've got to defeat them. You've got to destroy them. You can't sort of make nice to them. You can't make big agreements with them.

How can you make concessions to that enemy? Your position is you've got to defeat them. You've got to destroy them. You can't sort of make nice to them. You can't make big agreements with them.

So I think that Xi Jinping has now sort of put himself in a position where he is only going to accept something where it's clear that the United States has submitted, has gotten on its knees and begged China for an agreement. I don't see Trump doing that. And so, this is going to be very, very difficult for the Chinese regime. And we have to understand that the regime may not survive this.

So I think that Xi Jinping has now sort of put himself in a position where he is only going to accept something where it's clear that the United States has submitted, has gotten on its knees and begged China for an agreement. I don't see Trump doing that. And so, this is going to be very, very difficult for the Chinese regime. And we have to understand that the regime may not survive this.

So I think that Xi Jinping has now sort of put himself in a position where he is only going to accept something where it's clear that the United States has submitted, has gotten on its knees and begged China for an agreement. I don't see Trump doing that. And so, this is going to be very, very difficult for the Chinese regime. And we have to understand that the regime may not survive this.

I've been wrong on timing before, so I'm probably the worst person to ask that question. But I don't think that they can sustain it for too much longer. And there's a couple of reasons. Xi Jinping, because he's turned his back on consumption as being the fundamental basis of the Chinese economy, there's only one way out to rescue an increasingly grim situation, and that is to export more.

I've been wrong on timing before, so I'm probably the worst person to ask that question. But I don't think that they can sustain it for too much longer. And there's a couple of reasons. Xi Jinping, because he's turned his back on consumption as being the fundamental basis of the Chinese economy, there's only one way out to rescue an increasingly grim situation, and that is to export more.

I've been wrong on timing before, so I'm probably the worst person to ask that question. But I don't think that they can sustain it for too much longer. And there's a couple of reasons. Xi Jinping, because he's turned his back on consumption as being the fundamental basis of the Chinese economy, there's only one way out to rescue an increasingly grim situation, and that is to export more.

China's not growing at the 5.0% pace reported for last year. It may not even be growing at all. But we know the trend is down because we can see price signals that suggest, actually, screen deflation. But even if China were growing at 5.0%, it probably wouldn't be growing fast enough for those guys to pay back debt.

China's not growing at the 5.0% pace reported for last year. It may not even be growing at all. But we know the trend is down because we can see price signals that suggest, actually, screen deflation. But even if China were growing at 5.0%, it probably wouldn't be growing fast enough for those guys to pay back debt.

China's not growing at the 5.0% pace reported for last year. It may not even be growing at all. But we know the trend is down because we can see price signals that suggest, actually, screen deflation. But even if China were growing at 5.0%, it probably wouldn't be growing fast enough for those guys to pay back debt.

China not only has a problem with Trump at this moment, China not only has a problem with an economy that looks like it's contracting, China has now, it's 2008. In 2008, they did not want to suffer a recession. So they overstimulated their economy. They piled on the debt. And now that debt is just too heavy. So you've got all of these crises hitting at the same time.

China not only has a problem with Trump at this moment, China not only has a problem with an economy that looks like it's contracting, China has now, it's 2008. In 2008, they did not want to suffer a recession. So they overstimulated their economy. They piled on the debt. And now that debt is just too heavy. So you've got all of these crises hitting at the same time.