APEC exposes the US or China as anti-globalisation?

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APEC exposes the US or China as anti-globalisation?

KUALA LUMPUR (November 20177): The Cold War Agenda between the US and China was clearly exposed at the the Asia Pacific Economic Cooperation (APEC) meeting in Danang, Vietnam.

Both President Donald Trump and President Xi Jinping did not hesitate to whack one another openly, issuing statements that accuses each other as anti-globalisation , anti-free trade and the likes.

I Love Malaysia-China Silk Road reproduces below a pro-American international news agency Reuters report for readers to judge for themselves what is uttered by both world leaders.

At least, readers cannot accuse the report of being pro-China. And, it has all to do with thee US-China strive for global influence in geo-economic and geo-political influence.

For One Belt One Road (OBOR) followers, the US agenda of sabotaging China’s regional economic expansion interest is crystal clear. Economic interest and benefits work both ways.

Here’s the Reuters report as posted by The Star Online:

"Countering Trump, China's Xi touts cooperation in Asia-Pacific

Friday, 10 Nov 2017
6:14 PM MYT
by michael martina

DANANG, Vietnam (Reuters) - Asia-Pacific nations must "uphold multilateralism", Chinese President Xi Jinping said on Friday, countering U.S. President Donald Trump's message at a summit that the United States would stay out of trade deals that surrender its sovereignty.

Globalisation is an irreversible trend, but the world must work to make it more balanced and inclusive, Xi told leaders gathered in the Vietnamese resort city of Danang for the Asia Pacific Economic Cooperation (APEC) meeting.

His comments came moments after Trump told the same audience the United States would not tolerate chronic trade abuses from partners.

"Should we steer economic globalisation, or should we dither and stall in the face of challenge? Should we jointly advance regional cooperation or should we go our separate ways?" Xi asked.

During the past year, Xi has positioned China as a defender of globalisation in speeches around the world, contrasting himself with Trump, who has pursued his "America First" agenda, and pulled the United States out of the regional Trans-Pacific Partnership (TPP) trade deal.

Trump's predecessors saw the deal as a way for the United States, and not China, to write Asia's trade rules.

Having just concluded a state visit to China, Trump said the United States was ready to make a bilateral deal with any country in the Indo-Pacific region, but only on the basis of "mutual respect and mutual benefit".

He blasted the World Trade Organization and multilateral trade deals, and some analysts expect tougher action may be imminent from the White House to fight bilateral trade imbalances with China exacerbated by Beijing's state-led economic model.

But Xi's efforts to seize the mantle of free trade have rung hollow to critics of China, who argue it erects more market barriers to foreign companies, using state-driven industrial plans, than any major economy.

In Danang, Xi said China would "significantly ease market access" for foreign firms, and all businesses registered in China would be treated as equals.

The 11 countries still party to the TPP have been looking for a way forward for the deal on the sidelines of the APEC meeting. Japan had lobbied hard to proceed with the pact that could also help to contain China's growing regional dominance, as it is not involved.

Xi has been selling an alternate vision for regional trade by promoting the Beijing-backed Regional Comprehensive Economic Partnership (RCEP), which includes Australia, India and more than a dozen other countries, but not the United States.

The RCEP is seen as an alternate to the TPP for a path to the broader Free Trade Area of the Asia-Pacific (FTAAP) that APEC aspires to.

"We should support the multilateral trading system and practice open regionalism, to allow developing members to benefit more from international trade and investment," Xi said.

China will speed up negotiations with partners on free trade pacts, and work for the speedy conclusion of RCEP talks, he added.

(Reporting by Michael Martina and A. Ananthalakshmi; Editing by Nick Macfie and Clarence Fernandez)

Close-up of leaders’ residences for APEC 2017
16:42 11/10/2017
The luxurious InterContinental Danang Sun Peninsula Resort at Son Tra Peninsula has been chosen to welcome the APEC delegations.
The APEC Economic Leaders’ Week will be held from November 6th-11th. The preparations have been made to welcome leaders and delegations from 21 APEC member economies, along with nearly 10,000 other delegates, international journalists and world-leading entrepreneurs … for more, go to http://en.dangcongsan.vn/apec-viet-nam-2017/close-up-of-leaders-residences-for-apec-2017-457405.html