News Article

Trade Talk progress made between China and US

China and the US made good progress in their trade talks, Vice Foreign Minister Le Yucheng said Tuesday, and any issue could be solved as long as both sides respected each other.

No country can prosper without continuing to work with other countries, Le said at Beijing’s Xiangshan Forum, which China styles as its response to Singapore’s annual Shangri-La Dialog Security Forum.

The world needs China and the U.S. to end their war on trade, he said. Instead of “de-coupling” nations or a new Cold War, which demanded openness.

China became worried that the United States is trying to break down, or at least severely curtail, economic ties in what was considered’ de-coupling.’ Beijing fears that the Trump administration will want China to be wholly separated.

The two countries have been working to resolve their trade dispute, with the U.S. announcing a “phase 1” trade deal with China and suspending a scheduled October tariff hike.

“As long as we value each other and pursue an equal partnership, there are no differences that can not be overcome between China and the United States,” Le said.

“What China wants is to deliver a better life for the Chinese people. We don’t want to take anything from anyone else. There’s no such thing as China replacing anyone or threatening anyone,” he said.

Over the years, China and the US have accomplished a great deal through cooperation, Le said. “Why would we toss away the achievements of such cooperation?” Le also warned, however, that China would never trade off its core interests or allow other countries to undermine their security.

“No one should expect China to swallow the bitter consequences of undermining its interests, whether on the land or at sea, whether it’s Taiwan, Hong Kong, Xinjiang or Tibet,” he said.

SINISTER INTENTIONS

China’s foreign ministry last week accused U.S. lawmakers of “sinister intentions” to undermine the stability of Hong Kong after passing anti-government protest measures that have been rocking the city for months.

One of the measures adopted by the U.S. House of Representatives, the Hong Kong Human Rights and Democracy Act would require the U.S. Secretary of State to certify each year that Hong Kong retained its autonomy to receive special treatment as a major financial centre.

China is going to continue to protect its national security, Le said. Because of the development of China, the world had become safer and more peaceful, he said.

The Chinese-U.S. trade war and uptick. Unnerved countries around the world have been tensioning, each anticipating the effect on their markets and being forced to take sides.

“For small countries like Singapore, we watch with deep concern as larger powers position themselves more aggressively against each other,” Defense Minister Ng Eng Hen of Singapore said at the forum.

To ensure stability and address challenges such as climate change, nuclear threats, and terrorism, the world needed both China and the United States, Ng said.

“Singapore must retain its strong friendships with both and resist choosing sides. But it is also acutely aware that the farther the U.S. and China step back, the easier it would be for both countries to keep to this stable and impartial stance,” he said.

The Chinese government’s top diplomat state councillor Wang Yi said the China-U.S. in remarks to French news service AFP in Paris. Trade talks would not affect third parties and would not be at the expense of relations between China and Europe.

“As the world’s largest potential market, China is available to all nations,” Wang said, according to a translation carried on Tuesday by China’s foreign ministry.

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