The outlook for US-China economic ties is mutually dire. In a statement, William Zarit, chairman of American Chamber of Commerce in China, said that the “downward spiral” he had previously predicted now seems certain to materialize. “Contrary to views in Washington, China can—and will—dig its heels in and we are not optimistic about the prospect for a resolution in the short term. No one will emerge victorious from this counter-productive cycle.”