Hopes are already fading that China’s President Xi Jinping and his U.S. counterpart Donald Trump will achieve a breakthrough in their trade war during this weekend’s Group of 20 summit in Argentina. Even Trump poured cold water on the idea, saying only days before the conference that it was “highly unlikely” he’d hold off on a planned boost to tariffs…..But don’t expect Xi to budge on the real meat of the U.S.-China conflict. He won’t significantly widen access to the China market for U.S. companies. He can’t be trusted to stop pilfering U.S. technology. And most of all, Xi won’t reverse his state-led industrial policies aimed at nurturing national champions.
