New York (CNN Business) President Donald Trump thinks the economic slowdown in China will give the United States an edge in trade negotiations.

That's not necessarily the case, according to economist Larry Summers.

"The president vastly overstates the comfort of our own economic position," the former Treasury secretary told CNN's Christiane Amanpour on Tuesday.

It's true that China is struggling. When the world's second-largest economy releases its report on 2018 economic growth, it's expected to be the weakest since 1990. But Summers said that's not the only country at risk.

"People are now saying there's a 40-or-50% chance of a recession within the next two years," Summers said. "Our position isn't so strong."

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