Illustration: Isabel Seliger for Bloomberg
Trump Stumbled Into a Global Economic War. Xi Jinping Was Ready
As the US and Chinese leaders prepare to meet, the Iran conflict underscores Beijing’s resilience and the limits of Washington’s leverage.
Beijing’s springtime calm will soon give way to road closures and heightened security as Donald Trump makes his first visit in almost a decade in mid-May — if the war in Iran doesn’t delay his trip again. From China’s perspective, he will arrive on a far weaker footing than when he last met with President Xi Jinping in South Korea just six months ago.
That’s because, for the second time since returning to power, the US president has tested his leverage against a major adversary and misjudged the response, with global economic consequences.