China and the United States start their first major trade war part two meeting on Saturday to pull back from what analysts describe as a lose-lose situation for their economies, without much clarity on what a win would look like for either side.
China is at the epicenter of U.S. President Donald Trump's global trade war that has roiled financial markets, upended supply chains and fueled risks of a sharp worldwide economic downturn.
Washington wants to reduce its trade deficit with Beijing and convince China to renounce what the U.S. says is a mercantilist economic model and contribute more to global consumption, which would imply, among other things, painful domestic reforms.
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