Tuesday, 19 June, 2018

China to push forward Belt and Road cooperation: minister

Chinese Minister of Commerce Zhong Shan says a trade war could could shatter global economic growth Chinese Minister of Commerce Zhong Shan says a trade war could could shatter global economic growth
Ebony Burgess | 12 March, 2018, 12:15

"There will be no victor", Commerce Minister Zhong Shan told a press conference on the sidelines of the ongoing session of the National People's Congress.

"There is no victor in a trade war", he told reporters yesterday.

"China does not wish to fight a trade war, nor will China initiate a trade war, but we can handle any challenge and will resolutely defend the interests of our country and our people", he said.

"Because no one is willing to start a trade war, and everyone knows trade wars hurt others without helping themselves", Zhong said.

Zhong also took issue with the statistics behind the trade imbalance - which showed a record US$375.2 billion (RM1.5 trillion) United States deficit with China during Trump's first year in office.

China claims credit for N Korea talks
He also praised the China's suspension-for-suspension program to improve the inter-Korean bilateral relationship. McMaster, on the outcomes of their recent trip to North Korea .

Diplomatic and US business sources say the United States has frozen a formal mechanism for talks on commercial disputes with China because it is not satisfied Beijing has met its promises to ease market restrictions. "As a close security and trade partner of the United States, the European Union must be excluded from the announced measures", she said.

While he declined to say how Beijing planned to respond to the tariffs imposed by Washington on aluminium and steel imports, he said the two sides remained in talks on the issue.

Liu He, Chinese President Xi Jinping's top economic adviser, visited Washington earlier this month in an attempt to smooth strained ties.

However, a senior Chinese economic and financial official met with U.S. officials earlier this month and they have agreed that both countries should settle their trade disputes by cooperation rather than confrontation. The country has always been among the top global destinations for investment, but foreign enthusiasm is cooling.

"We are not only talking for now, we will continue to talk in the future", he said. "The fact that they have complaints indicates that they are still paying attention to China's development and have confidence in China's market".

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