Look, in the end I think the US will ban all companies from China doing business in the US. If they do that then they lose all leverage over China. Xi is right, time to stop depreciating the RMB for the sake of exports to the US. We need to reorient the economy so it's domestically focused.
Strong, stable RMB will help with this transition. China needs to solve its import dependencies and retool parts of the export oriented economy into producing goods for domestic market. Also, consumption needs to be boosted via social welfare programs and other methods.
