China

The virus was deliberately created in a secret laboratory close to Wuhan. Scientists intended to use the illness to wipe out the US in the battle for global hegemony.

These governments developed the virus together to leverage their positions against both China and the Middle East.

An inevitable result of the trade war is increased tariffs on necessary consumer goods such as food. This makes these goods more expensive for consumers. Making life harder for its citizens is bad for China.

Since China is reliant on U.S. exports, large tariffs cause huge damage to the Chinese economy. China will lose the trade war because the U.S. will be able to sustain the damage for longer than China.

The virus is realigning power dynamics around the world.

The Chinese government has already allowed certain SMEs to back out of established pension obligations and insurance fees to ease the virus' financial burden. Was it pre-empted?

In his foreboding thriller 'The Eyes of Darkness', Koontz imagines a man-made virus called Wuhan created in its namesake city, sweeping the globe. The novel calls it the 'perfect weapon'.

China can win this war. It can last longer because China’s economy has more room to maneuver than the United States economy. Also, China can cause more damage to the U.S. by devaluing U.S. debt.