There are two ways to understand this week’s summit in Beijing between China’s leader, Xi Jinping, and U.S. President Donald Trump. The first, and most tempting, is to see it as a meeting between two figures commonly described as the most powerful men on Earth, with all of the personal chemistry and theatrics surrounding their second-ever summit in China. The second centers on the encounter between the nations they incarnate—and although this is the harder one to parse, it is also the more

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