US-China trade war most likely to end with Donald Trump's victory

Two potential paths are emerging for China and both will deliver trade wins for Donald Trump

The United States and China have sparred repeatedly over trade, in a tit-for-tat skirmish that has shown little sign of abating. High-level talks have stalled, while both sides have been threatening further tariffs in recent days.

But beneath the acrimony, two potential paths for China seem to be emerging, according to participants in the trade negotiations and their advisers. Both would deliver trade wins for President Trump and his more moderate advisers, while also letting President Xi Jinping of China push ahead with his ambitious industrial plan to build national champions in cutting-edge technologies.

A stalemate appears the most likely endgame, with