On "Forbes Newsroom," author and U.S.-China relations expert Gordon Chang discussed
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00:00What do you think Xi Jinping is thinking right now? And what do you think he really wants out of all of this?
00:06Well, he wants the status quo. I mean, we've had administration in, administration out, including Trump 45, that talked about tariffs, talked about China's predatory trade practices, talked about China's theft of U.S. intellectual property, but did very little.
00:24So I think Xi Jinping wants to go back to that. And if he can do that, that is a big victory, because we know that China has been gaming the international trade system.
00:34He's been gaming it so much that I think he's taken it down. You know, as a number of people have said, the global trading rules-based order no longer exists.
00:44We know the WTO has been neutered. We know all these things which suggest that the world is starting to deglobalize.
00:53You put that all together. That's not a world that China wants to be in, but it's a world that China created by being intransigent and through the inability of the United States and others to enforce trade rules.
01:07So this whole idea of trade rules, I think, is out the window. I know a lot of people don't want to hear that.
01:13But when we see what's been occurring this year, and not just in the United States, I think that we can see that we're in a very different environment than we were in the previous decades.