So far, however, Chinese leaders express confidence in their $12 trillion-a-year economy and are refusing to budge on tactics they see as a path to prosperity and global influence. "Contrary to views in Washington, China can — and will — dig its heels in," said the chairman of the American Chamber of Commerce in China, William Zarit, in a statement. But doing that without looking like Chinese leaders are "caving in to the United States will be a difficult endeavor to pull off." Chinese leaders realized "they don't have core technology," said Liu. The dispute has a silver lining for some Chinese companies as some local governments act on longstanding complaints by cutting taxes and fees and simplifying bureaucracy.

Source: ABC News September 18, 2018 11:47 UTC