BEIJING (AP) China says its girded for a trade war with the U.S. and can give as good as it gets, but behind the official bravado lies a deep unease over trade friction with Washington.
There are those who believe the U.S. must lose and China must win, Li Xiao, a leading economics professor, said in a commencement speech last weekend at northern Chinas Jilin University.
I think this is wishful thinking that defies common sense, Li said in remarks that circulated widely online this week, praised as a reality check as the worlds two largest economies stood ready to exchange tit-for-tat tariffs on tens of billions of dollars of each others goods starting Friday.
