"It looks as if rivalry and confrontation became the prevailing aspect of our path ahead", said Cui, speaking during a trade war in which both countries have slapped punitive tariffs on hundreds of billions of dollars worth of imports.
The study notes, "despite the fact that more than 70% of USA companies consider the suspension of investment in China and moving some or all production overseas, only half of Chinese companies support this approach", reports UKRINFORM.
The effects of higher tariffs could be especially severe for tech firms, which make many of their products in China, and for industrial companies, which are already paying higher prices for metals. They've been taken out an average of USD500 billion a year for many years.
Meanwhile, Gao Feng, a spokesperson for China's Ministry of Commerce, said at a regular press briefing last Thursday that China had always been honest about trade talks with the US. Bulls remain on the back foot, with early gains Monday fueled by speculation stocks had gotten cheap during the sell-off wiped out in afternoon trading.
Hong Kong's Hang Seng Index fell 0.9 percent Tuesday, while the Shanghai Composite Index rose 1 percent. The S&P 500 Index fell as much as 2.1 percent before paring the drop and ending the day down 0.7 percent.
"The trade war remains an overhang on the markets, and the news today signals further escalation rather than de-escalation", she added.
The US President said he would like to strike a deal now but that China was not ready. IBM fell 4.1 percent to $119.64.The prospect of reduced barriers to trade helped auto makers on Monday. Trade-sensitive industrial shares rose almost 1.2 per cent in mid-morning trading.
The Dow is down 276.30 points, or 1.1 percent.
The Standard & Poor's 500 index has dropped 9.4% in October and is on track for its biggest monthly loss since February 2009 - right before the market hit its lowest point during the 2008-09 financial crisis. Any reminders of that just leads to more pessimism.
USA crude fell 1.06 percent to $66.33 per barrel and Brent was last at $76.30, down 1.34 percent.
Bond prices slipped. The yield on the 10-year Treasury note rose to 3.08% from 3.07%. U.S. West Texas Intermediate (WTI) crude futures fell 94 cents to $66.10 a barrel, a 1.4-per-cent decline.