China 

Beijing plays down Commerce Minister Zhong Shan’s inclusion in latest US-China trade war talks

The participation of China’s Commerce Minister in the latest trade discussion with the United States was “normal”, China’s Ministry of Commerce said on Thursday, playing down the eye-catching change in Beijing’s negotiating team.Zhong, 64, joined Vice-Premier Liu He’s phone conversation with US trade representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin on Tuesday – the first phone call between top negotiators since President Xi Jinping and US counterpart Donald Trump agreed… Source link

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Money 

China insists US must remove all trade war tariffs as part of deal, says commerce ministry spokesman

China has insisted that all tariffs on Chinese imports added by the United States during the trade war must be scrapped immediately as part of any deal to end the year-long conflict, which would require the Trump administration to give up its position that some levies remain in place even after an agreement is reached.US President Donald Trump agreed to pause placing tariffs of up to 25 per cent on an additional US$300 billion of Chinese imports not yet subject to taxes after his meeting with… Source link

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Global 

US investors ‘confidently’ pouring money into China despite trade war, says commerce minister

Increasing investment from the United States highlights a “confidence in China’s economic growth”, said vice-commerce minister Wang Shouwen, after final data showed that US capital inflows increased by 65.6 per cent in the first quarter of 2019 despite the ongoing trade war.Total foreign investment in the world’s second largest economy hit 242.28 billion yuan (US$36 billion) in the first three months of 2019, an increase of 6.5 per cent compared with the same period last year. Foreign… Source link

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Global 

Trump and his economic aides are wrong with their ‘managed trade’ because forced diversion of commerce is neither free nor fair

It has been said that fools rush in where angels fear to tread. When it comes to trade, there are few bigger fools than US President Donald Trump and his economic aides.While they push for free and fair global commerce, they seem to think that they can manage trade to suit themselves.Managed trade is neither free nor fair, because it causes commerce to be diverted from the channels into which it naturally wants to flow. The world is about to learn this lesson with a US-China trade deal… Source link

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China 

China must not assume it will overtake US as top superpower, warns former commerce minister

China should not take it for granted that it will overtake the United States to become the world’s top superpower, former commerce minister Chen Deming warned on Sunday.At a forum organised by the Centre for China and Globalisation, a Beijing-based think tank, Chen warned that the country will remain “in the primary stage of socialism” for a long period of time and said its economic size does not give it the leeway to dictate global rules.“When China takes part in global governance, China must… Source link

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Vietnam 

Prime Minister welcomes Hong Kong-Việt Nam Chamber of Commerce Chairman – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Prime Minister Nguyễn Xuân Phúc (right) meets with Jonathan Choi, Chairman of the Hong Kong-Việt Nam Chamber of Commerce. — VNA/VNS Photo Viet Nam News HÀ NỘI — Prime Minister Nguyễn Xuân Phúc hosted Jonathan Choi, Chairman of the Hong Kong-Việt Nam Chamber of Commerce and President of Sunwah Group, in Hà Nội on Tuesday. The PM underlined the sound co-operation between Việt Nam and China – and particularly Hong Kong – in various fields such as the economy, trade, investment, tourism and culture. Choi expressed his pleasure at…

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China 

US-China trade war could slash US$1 trillion from US economy in a decade warns Chamber of Commerce

The year is 2029, the US-China trade war is still being waged, and it has cost the American economy US$1 trillion.That is the warning contained in a new report commissioned by the US Chamber of Commerce, which calculates the cumulative hit to US growth over the next decade should trade tensions with China continue to escalate.The study, conducted by the Rhodium Group, unpacks the economic impact of three rounds of tit-for-tat tariffs to date and also estimates the effect of a tariff increase to… Source link

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China 

China Commerce Ministry calls for US cooperation to reach trade deal in Trump-Xi meeting

China’s Commerce Ministry called Thursday for the United States to show a cooperative attitude in the meeting this weekend between Chinese President Xi Jinping and US President Donald Trump to reach a deal to end the trade war. “The economic teams on both sides are in contact to fulfil the consensus reached by the two leaders,” spokesman Gao Feng said at a news briefing in Beijing. “We hope the US will join our efforts to achieve a good result,” he added. Financial markets are hoping that a ceasefire deal, if…

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Home 

Global commerce is messy, so the moral high ground is for none to claim in pursuing free trade

Over the past week in Papua New Guinea at the annual talkfest of the Asia-Pacific Economic Cooperation (Apec) forum, the region’s leaders have talked in unison of the need for free and open trade against the backdrop of ongoing trade conflict between the United States and China. The US Vice President Mike Pence added fairness and reciprocity, attacking China for unfair trade practices ranging from quotas, forced technology transfer, intellectual property theft and industrial subsidies “on an unprecedented scale”. For China, Xi Jinping praised the openness and cooperation that has…

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China 

China won’t back down in trade war with US: Commerce Minister

China will not cave in to US demands even if it faces further tariffs on its exports, China’s Commerce Minister Zhong Shan has said, signalling Beijing’s uncompromising stance in dealing with US. “There is a view in the US that so long as the US keeps increasing tariffs, China will back down. They don’t know the history and culture of China,” Zhong said, in a statement published by Bloomberg News. “This unyielding nation suffered foreign bullying for many times in history, but never succumbed to it even in the most…

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