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That's why, when other administrations are upset with trade, they work that shit out in back rooms out of sight of the public. Trump not only holds a losing hand, but he's playing with his cards on the table face-up in a televised game. Because real diplomacy is the fucking opposite of showmanship.
But also, I think China knows well the adage of Napoleon: "Never interrupt your enemy when he is making a mistake." Trump is fucking himself left and right and China is just sitting back, going, "Let's give him rope and see where this goes."
They are playing the long game, and they know in a few years, they are likely to be negotiating with someone very different, and they will be doing so from a position of much greater strength. So they can afford to ignore Trump.
The world as a whole can afford to ignore him. The rules are established, if he doesn’t want to play by them then he doesn’t get to play at all. The world will move on.
Then the US populace will suffer while learning that hard power is so much more expensive than soft power.