Don't expect much from talks. As I recall during the truce talks in the fifty's it took several months of "talks" to agree on the size of the table to be used
We're not in Kansas anymore, Dorothy.
Can anyone tell me what leverage China has over the USA right now?
Currency manipulation and cyber attacks....but ultimately you're right in that most leverage is held by us.
Currency manipulation: They hold a lot of our printed $$ debt. Walk away from it and watch China's economy collapse. See: economic sanctions.
Cyber attacks: Lots of these are actually coming from Iran and NK (AKA China). Both countries have quite capable cyber armies. We could hit back. Or we could make it very public and declare it an act of war, which it is.
I'm pretty sure NK citizens are doing meth to fight the hunger. Google. The NK citizens aren't sufficiently armed to fight the NK army. That's the end of that story.
