It was news the rest of the world had been waiting to hear as astonishingly high tariffs - up to 245% on some Chinese exports to the US - throttle trade between the world's two biggest economies, raising the spectre of a recession.

The view that the Chinese leadership was desperate to negotiate a trade deal, to avoid economic pain that could destabilize Chinese society and threaten the Chinese Communist Party’s monopoly on power, is common among China hawks in the United States. This analysis is partly accurate, but it has led many to draw false conclusions.