News Worms
News Worms

China Doesn't Want a Trade War With US, Premier Declares

China Doesn't Want a Trade War With US, Premier Declares

China supports globalisation and free trade, Chinese Premier Li Keqiang said yesterday, while pledging that Beijing would quicken the pace of opening up its economy at a time of rising protectionism.

Addressing a press conference after the conclusion of the annual session of China's national legislature, Li said "diplomatic authorities of the two countries are already engaged concerning a face-to-face meeting" between the two presidents. That would increase the return on USA bonds and other financial assets, drawing more money out of China.

"No mater what bumps the China-U.S. relationship may run into, we hope this relationship will continue to move forward in the positive direction", he said.

The outspoken Republican president reserved some of his harshest campaign rhetoric for Beijing on his way to the White House, accusing China of being a currency manipulator and threatening to slap huge tariffs on Chinese imports to the US.

More news: March Madness 2017 NCAA Tournament schedule

Before his shock election Trump repeatedly signalled he would take a hard-line with Beijing on issues ranging from trade to the South China Sea.

"But I believe that our economic performance in the past several years. should suffice to put a full stop to such prophesies of a hard landing".

The world's two most powerful men face a complex and potentially acrimonious range of discussions, including the escalating crisis on the Korean peninsular, the deployment of a controversial U.S. missile defence system in South Korea and the thorny trade relationship between the United States and China. The economy grew 6.7 percent past year.

China has cut its economic growth target this year to around 6.5 percent from its 2016 goal of 6.5 to 7 percent, while vowing to push through reforms to tackle rising debt and guard against financial risks.

More news: Illini hiring Oklahoma State's Brad Underwood

Data in recent weeks has shown the economy got off to a strong start to 2017, though growth appears to still be heavily dependent on credit, infrastructure investment and the property market.

"This relationship is crucial not just for China and the U.S. but also for regional and global peace and security", he said.

Last year, the United States' deficit in trade in goods with China reached Dollars 347 million and Trump has promised to close that gap, which he has also attributed to what he calls China's rigged currency exchange policies. "We will take prompt and targeted measures to prevent them from further spreading", Li said.

Globalization and world peace, development and cooperation are inseparable, Li said, adding that closing the door and adopting beggar-thy-neighbor policies would not solve any problems.

More news: West Ham United v Leicester City

The RMB has solid presence in the worldwide currency system and the RMB exchange rate will remain generally stable, he added. "We still have a good reserve of policy options and instruments at our disposal".


editors' picks

March 20, 2017
New Samsung Galaxy S8 details emerge online, pricing and color details leaked
Tech informant, Evan Blass recently shared possible price details for several products Samsung is expected to release soon. All three methods can be used to verify the identity of the user for accessing different services including Samsung Pay.

March 20, 2017
NCAA Tournament scores 2017: Gonzaga downs Northwestern 79-73 in Second Round
The first 20 minutes we were switching everything, sliding to the inside and trying to make them take tough 2s. Collins reached through the basket from below and blocked the shot that would have cut the deficit to three.

March 20, 2017
No Kane but Spurs ready for Saints
The former Tottenham defender was pleased with the performance of Janssen against Southampton at White Hart Lane on Sunday. Tottenham Hotspur host Southampton in the Premier League as they look to tighten their grip on the top four.

March 20, 2017
UNC's Roy Williams 'hopeful' Joel Berry II available for Arkansas game
Anderson, 128-73 in his sixth season at Arkansas, has the Razorbacks in the NCAA Tournament for the second time in three seasons. Stranger things have happened than a team like Arkansas beating a team like North Carolina in the second round.

March 20, 2017
Modi BJP picks firebrand to head India's Uttar Pradesh
All of them have been made cabinet ministers.Former minister in BSP government Dharam Singh Saini has become a minister of state. As for himself, Mr Adityanath has several criminal cases against him, including charges of attempted murder and inciting riots.

March 19, 2017
Casemiro guides leaders Real through Athletic test
It is a hard place to go to but we will try to play well and win the game, doing as we've been doing up until now". We know it will be one of the most demanding games that we have left.

March 19, 2017
A quick look at UC Davis-NC Central in the NCAA Tournament
That was the first time I found out. "I'm mad", said Chalmers, one of three freshmen starting for Kansas. The Eagles and Aggies say they'll gladly worry about Bill Self's team when the time comes.

March 19, 2017
Kolarov warns Manchester City against domestic hangover after Monaco woe
Divock Origi is doubtful following illness, while injured duo Jordan Henderson and Daniel Sturridge will again miss out. This league advantage wasn't lost on Jurgen Klopp who highlighted Man City's expansive attacking style this season.

March 19, 2017
Michigan Wolverines vs. Louisville Cardinals NCAA Tournament Second Round Preview and Prediction
But he had 19 points by halftime in this one, helping the Tar Heels (28-7) quickly eliminate any chance of an unprecedented upset. Lonzo Ball and Aaron Holiday each had 15 points for UCLA, which will face No. 6 seed Cincinnati in the second round on Sunday.

March 19, 2017
Missing clerics 'found' in Pak
The clerics identified as Asif Nizami and his friend Nazim Nizami, belonged to Delhi's Hazrat Nizamuddin Dargah. "We are pursuing this further with the Government of Pakistan", Swaraj said in a series of tweets.