The world will end when the Holy Grail of Jesus' last dinner is found in the bottom of the CBOE, Chicago Board Options Exchange on St. Patrick's Day, March 17, 2019.
China can't hold up for very long if trade war drags on. Papa Xi would need to find ways to feed his 1.3 billions children. Manufacturing jobs might come back to North America, though Mexico would be the one who rips the profit. Papa Trump would need to find way to reduce cost for manufacturing goods and services in US. Papa Xi might pull strings on his puppet Kim Jung Un to withdraw from the summit.
keep dreaming on. the US is insolvent in spite of denials by the usual Lefties on ET. there is at best a semi- permanent underclass of tens of millions in the US who drain the welfare system in addition there are millions of government servants performing work that hinders the productive private sector. while collecting billions in salaries + benefits. then there is trillions in unfunded pensions for these ..... the US is probably; the only country in the word that sends semi-illiterates to college at the public's expense. it is a debt death spiral that may have finally reached the tipping point. China may talk about tariffs but they are really talking about not buying/ boycotting the purchase of US Treasury bonds which are used to keep the US running.
US export to China vs US import from China is about 1:4 ratio. https://www.census.gov/foreign-trade/balance/c5700.html
Is china that stupid they do not see a trade imbalance. I bet they knew something was going to happen, it's just a matter of time. The west help build their economy, now it's payback time. If China wants to be a part of the world supply chain, they / we all need to trade fair. The problem is home grown. Many American/west companies take advantage of low RMB. They export raw materials to china, manufacture in china and import finished products and sell it back to us for a hefty profit. That's why the market sold off. Tarifs will cause the cost of doing business to go up.
China has not been playing a fair game, but couldn't blame them (they are doing it for their best interests). Have to blame our previous leadership for not doing anything to fix it.
We all blame china, because fake news feeds off stupid masses. But you know it's corporate greed that wants cheap labor, and consumers want cheap stuff that fuels china.