CHINA/TARIFFS/TRADE WARS/TRUMP AS PRESIDENT: “China’s leaders have sought to project confidence in the face of President Trump’s tariffs and trade threats. But as it becomes clear that a protracted trade war with the United States may be unavoidable, there are growing signs of unease inside the Communist political establishment. In recent days, officials from the Commerce Ministry, the police and other agencies have summoned exporters to ask about plans to lay off workers or shift supply chains to other countries. With stocks slumping into bear territory and the currency dropping 9 percent against the dollar since mid-April, censors have been deleting a torrent of criticism online, some of it directed at President Xi Jinping’s leadership. State news outlets, by contrast, have sought to promote the official line, with the authorities restricting the use of the phrase ‘trade war’…If the trade war escalates — and Mr. Trump has shown no sign of backing down — some worry that the public’s faith in the economy could be shaken, exposing the nation to much more serious problems than a drop in exports. New economic data on Tuesday [8-14-18] showed slower growth in investment and consumer spending, and there are fears that the financial crisis in Turkey could spread.”
–Keith Bradsher and Steven Lee Myers, “Trump’s Trade War Is Rattling China’s Leaders,” The New York Times online, August 14, 2018