|A ZTE Booth at an expo in beijing. Photo: Reuters|
US-CHINA TRADE WAR: NOT ABOUT TRADE, NOT ABOUT TRUMP. HERE’S WHAT IT IS ABOUT
The US objective is not to win trade concessions, but to force a change in China’s whole economic and industrial policy approach
BY TOM HOLLAND
23 APR 2018
Perhaps we should stop talking about US President Donald Trump’s US-China trade war. As last week’s developments demonstrated, the dispute between Washington and Beijing isn’t really about trade at all, nor even about Trump. It’s much, much bigger than that. On Monday last week, the US Department of Commerce banned American companies from selling components to state-owned Chinese phone maker ZTEfor a period of seven years. The move was intended to punish ZTE for failing to comply with the terms of an earlier US penalty. Last year, the Chinese company admitted to having sold products containing US-made chips to Iran in contravention of the US trade embargo in place at the time. As punishment, ZTE paid a hefty fine and agreed to comply with US regulatory restrictions. Now, the US says that ZTE has reneged on that agreement, even rewarding the executives responsible for evading US export controls – hence the latest penalty. Inevitably China will retaliate, most likely with tit-for-tat action against a US company. Beijing has any number of ways to make life difficult for US companies operating in China. But its retaliation appears to be taking a different form … for more, go to http://www.scmp.com/week-asia/opinion/article/2142568/us-china-trade-war-not-about-trade-not-about-trump-heres-what-it
China's open policy door to open even wider for business and trade, says Xi
https://youtu.be/Gc3wg6j7m-w (VIDEO: Key points delivered by President Xi Jinping at Boao)
KUALA LUMPUR (April 2018): With the ongoing US-China trade war worsening, some may say so while others may not concur, President Xi Jinping seized the opportunity to send a clear message to the rest of the world at the recently concluded Boao summit.
In his opening keynote address, Xi told the international audience of leaders: “… China will not abandon its opening-up policy … The door will open even wider …”
To those who still doubt Xi’s words to help promote the global economy, just ask this: “Does it make sense to abandon the policy in the midst China’s multi-trillion-dollar Belt Road Initiative (BRI)?”
Also, lets not forget that some 69 cities and nations have signed agreements with China to help develop BRI for the promotion of trans border business and trade.
BRI is the construction of trans border infrastructure - roads, rails, bridges, ports and airports - to link all 69 cities and countries to facilitate business and trade.
To all who follow BRI developments closely, view the above video clip for Xi’s insight.
|Chinese President Xi Jinping gives a keynote speech during the opening ceremony of the Boao Forum for Asia (BFA) Annual Conference 2015 in Boao, south China's Hainan Province, March 28, 2015.|
BOAO, China, March 28 (Xinhua) -- The "Belt and Road" initiatives will not be a solo for China but a real chorus comprising all countries along the routes, Chinese President Xi Jinping said Saturday. Xi made the remarks while delivering a keynote speech at the opening plenary of the annual conference of the Boao Forum for Asia in this small town in south China's Hainan Province. The "Belt and Road" initiatives, aimed at meeting the development needs of China, countries along the routes and the region at large, will serve the common interests of relevant parties and answer the call of the times for regional and global cooperation, Xi said … for more, go to http://www.xinhuanet.com/english/2015-03/28/c_134105208.htm