There will be no list of demands because there will never be a return to the previous relationship. China didn’t really want the previous relationship to start with, and has been working hard for a decade to disentangle itself from that relationship with minimal cost and disruption.
Trump made a colossal strategic fuckup trying to impose a Plaza Accords 2.0 on China, but doing it in the most stupid and idiotic manner imaginable.
He thought he was holding China hostage, but all he managed to do was massively accelerate China’s timetable and make it a hell of a lot easier for Beijing to achieve full decoupling with only a fraction of the costs it originally thought such a move would cost it.
It’s similar to someone who has been weaning themselves off of cigarettes for years, who has been steadfastly following a plan to quit and has made massive progress, and was planning on going to rehab as a final step but was putting it off due to the costs and stigma of that move, but suddenly the cigarette company announced they will cut him off unless he smokes twice as much as he used to and pay triple the price. And now that China has said ‘fuck you very much’ and finally quit altogether, the cigarette company is asking to go back to business as usual like he is doing you a massive favour because his factory is about to be foreclosed without your business. China will have to be a bigger moron than Trump to take that shitty deal.
I think this will become one of the most studied and cited blunders in world history in time, and one of the conclusions will be that this is perhaps one of the most incredible examples of loosing the next war because you were so totally obsessed with re-fighting the last war.
Trump’s crazy tariffs is basically the ultimate evolution of what his first term trade war against China should have been like. Had he made this move totally out of the blue back during his first term when China wasn’t expecting it and was not remotely prepared for it, it would have indeed been a strong move that would have put Beijing under a massive amount of pressure and forced it to make real painful concessions.
The problem is that he played this card a decade too late, after having fully telegraphed his intentions well in advance, and most crucially, after having already effectively vaccinated China previously against this exact same move with his first term play. Trump was so obsessed with perfecting his own move that he completely did not register all of the preparations and counters China has spent so much time, energy and resources to specifically develop to counter it, such that in the end, his Ultimate Evolution Signature Death-Move ended up being reflected with interest right back at him and America by China’s Tai Chi counter with little apparent effort.
We are now in the calm before the storm, the tiny gaps in time between when a blow hits and the damage first manifests.
Rather than seek to make a deal, what China is doing is preparing its own counter attack. It has already started with a few testing jabs to test America’s reaction and capabilities. But be assured, as it gets a better measure of its opponent, and gains more confidence in its own capabilities, the blows will start to come much fast and harder.
Trump has given China an opportunity beyond its wildest dreams, and the Chinese civilisation would not have survived until now if it doesn’t have the cunning and ruthlessness to go in for the kill when an enemy presents them with the opportunity, and this is a golden opportunity that might not come once even in a hundred years. China will not waste it for a shitty trade deal.