China has a large and growing middle class. The middle class Chinese does not want an economic/trade war with the USA. In a similar manner and the Chinese middle class does not want a military war with the USA. The 1989 Tiananmen Square protests were the rise of the middle class. The protest took the lives of thousands (maybe tens of thousands) of China’s middle class. The protest made the case for economic power that the middle class was willing to die for. IOW, the Old Guard has the political power, the middle class has the economic power and proved they are willing to die to keep the economy flowing. If the Old Guard screws up and escalates a trade war that depresses, or God forbid, collapses their econ, then the Old Guard realizes this could tear the country apart with the real possibility/probability of taking down the Old Guard.
The Wumao 50cent party would go unpaid.
Many of the so-called protestors were not protesting anything; they were passers by, people in their homes near the Square, reporters, people returning from work, and many local troops - their vehicles destroyed; all medical facilities closed except for military personnel.
Live fire with heavy and automatic weapons went on continuously for almost 48 hours - all rounds fired were armor piercing.
It should be added here that the troops used were not from the area, but rather from the mountains; were not allowed access to the news, but instead told that the people were terrorists; the troops were the most uneducated and loyal lot that could be found at the time. They did exactly as they were told, killing everyone regardless of all other factors.