Chinese business sentiment towards international trade worsened in August according to the latest CFLP survey, despite an improvement in the overall manufacturing outlook. The export order survey fell to 49.4% from 49.8% (below 50% indicates a contraction is expected) and imports dropped to 49.1% from 49.6%, the lowest since June 2016. The imposition of duties on a total $100 billion in bilateral trade with the U.S. from August 23 and potential for a further $260 billion of product targeting from as soon as September 7 are the main drivers of worsening opinion. That marks a contrast with...