The Chinese economy is more dependent on exports, making tariffs more potent, yet it’s less reliant on American markets and increasingly bent on self-sufficiency.

In South American copper giant Peru, the incoming Donald Trump White House will find itself already on the losing side in a trade battle with China, part of a bigger power realignment around the resource-rich region in Washington's backyard.

China is trying to tackle tens of billions of dollars of debt currently saddling local governments to prevent it from slowing the country's overall growth.