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China is not behaving like a nation facing the prospect of economic pain and President Xi Jinping has made it clear that Beijing will not back down.

“A lot of these tech companies that hired to the moon are falling back down to Earth,” said Andy Challenger, senior vice president at Challenger, Gray & Christmas.

Stocks surged after President Trump on Wednesday abruptly backed down on his tariffs on most nations for 90 days.

“Then, I just flopped back down on my back and experienced this overwhelming feeling of absolute bliss,” Leier, an ethicist at the University of Alberta in Canada, told Salon in a phone interview.

The German led Norwich to promotion from the Championship twice, but they went straight back down the first time and he was sacked in the November of the second Premier League campaign.