- 10 Apr 2018 19:11
#14904832
"It is when a people forget God that tyrants forge their chains. A vitiated state of morals... is incompatible with freedom."
- Patrick Henry
Is it possible that Trump's tough talk is bringing the Chi-coms to the table?
Are we seeing the art of the deal?
http://www.chicagotribune.com/business/ ... story.html
Are we seeing the art of the deal?
http://www.chicagotribune.com/business/ ... story.html
Speaking to Chinese and foreign businesspeople, Xi didn't mention Trump or their dispute. He pledged progress on areas that are U.S. priorities including opening China's banking industry but gave no direct response to Trump's demands such as ending requirements for foreign companies to work through joint ventures that require them to give technology to potential Chinese competitors.
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Private sector analysts saw Xi's speech as an overture to help resolve the standoff that has fueled fears the global economy may suffer a setback if other governments raise their own import barriers.
Trump has threatened to raise tariffs on Chinese goods worth $50 billion. Beijing fired back with its own $50 billion list of U.S. goods for possible retaliation.
In his speech, Xi tried to position China as a defender of free trade, despite its status as the most-closed major economy, in response to Trump's "America first" calls for import restrictions and trade deals that are more favorable to the United States. The speech was free of the nationalist bluster that increasingly marks Chinese official statements and repeatedly called for international cooperation.
"China's door of opening up will not be closed and will only open wider," said Xi at the Boao Forum for Asia.
Xi, the country's most dominant leader since at least the 1980s, said Beijing will "significantly lower" tariffs on auto imports this year and ease restrictions on foreign ownership in the auto industry "as soon as possible."
He also promised to encourage "normal technological exchange" and to "protect the lawful ownership rights of foreign enterprises."
"President Xi's speech could create a very good platform to launch U.S.-China dialogue at the WTO to find a deal on intellectual property rights," said economist Rajiv Biswas of IHS Markit in a report. "This would be a victory for the world trading system and an important step away from the abyss of rising global protectionism."
The dispute is likely to end "with a concession from China," said Larry Hu of Macquarie Group in a report.
"It is when a people forget God that tyrants forge their chains. A vitiated state of morals... is incompatible with freedom."
- Patrick Henry