Business leaders and officials in China say that Beijing is ready to dig in for a war of attrition with the United States on trade. The trade war dominated discussions at the "summer Davos," as the event is known, and few participants predicted a swift resolution to the conflict. "This is a test for us and we should stick to our direction and never stop," Liu said of the trade war. Asked if he was worried Beijing could withhold approval for the venture because of the trade war, JPMorgan China CEO Mark Leung said in Tianjin that it's "not within our control." "Every time we get into a trade war, it doesn't end up well," said Carlos Moedas, the European Union's commissioner for research, science and innovation.

Source: CNN September 18, 2018 13:07 UTC