He can lose face or lose his economy. Or both.
His choice.
Writing himself into the constitution to be equal to Mao may have been a step too far...
The Chicom party is popularly thought to be in charge of China but the real power is the Chinese Military, and they are not happy about Xi’s big and reckless moves. He is being pulled into line by forces we do not even see.
Trump may choose to allow him to save face by accepting some of the solutions the low-level trade envoy is here to offer as trial balloons. Or he may decide that Xi’s replacement might be better and deny him a face-saving out, which would essentially support the internal forces in removing him.
Either way, Xi will not be allowed to ruin the Chinese economy by thinking he can take on the US and win.