Most of the news outlets reported that China and the US did not agree on a a statement for Summit of the Asia-Pacific Economic Cooperation (APEC). CNN say this about the line in question: The official said the most "problematic" line for the Chinese was: "We agree to fight protectionism including all unfair trade practices." That could point to some very difficult areas of trade because one would think every country would agree with that statement. China, of course, thought it was directed towards them, which it was.
CNN also aptly points out that "China's Global Times, a state-sanctioned tabloid that often promotes hawkish viewpoints, released an editorial Monday stating that it was "not a big deal" that the APEC summit ended without a joint communique for the first time in a quarter of a century." Perhaps the Chinese view of history is less in tune with other countries, but this is a big deal. They want to stand on principle even when the principle is difficult to define, and clearly a moving target. They are playing a game of chicken and they want to play that game out and see if they win or lose.
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