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China is indicating it'll never give in to US demands to change its state-run economy [View all]
Source: CNBC
China is indicating it’ll never give in to US demands to change its state-run economy
PUBLISHED MON, MAY 27 2019 4:46 AM EDT UPDATED 2 HOURS AGO
Evelyn Cheng
As trade talks between the U.S. and China increasingly center on Chinese treatment of foreign companies, Beijing says major American complaints about structural aspects of its economy are running up against “core interests.”
The implication: Those matters are not up for negotiation.
Previously, the vague “core interest” term was generally understood as referring to Beijing’s territorial claims, such as those on Taiwan. But a commentary piece published this weekend by state news agency Xinhua emphasized that China will not yield on its prerogative about how to manage its economy.
The Chinese-language article published Saturday claimed there were five ways in which the U.S. is harming the growth of the global economy by launching a trade war with the Asian giant.
“At the negotiating table, the U.S. government has made many arrogant requests, including restricting the development of state-owned enterprises,” the commentary said, according to a CNBC translation. “Obviously, this is beyond the field and scope of trade negotiations, (and) touches upon China’s fundamental economic system.”
-snip-
PUBLISHED MON, MAY 27 2019 4:46 AM EDT UPDATED 2 HOURS AGO
Evelyn Cheng
As trade talks between the U.S. and China increasingly center on Chinese treatment of foreign companies, Beijing says major American complaints about structural aspects of its economy are running up against “core interests.”
The implication: Those matters are not up for negotiation.
Previously, the vague “core interest” term was generally understood as referring to Beijing’s territorial claims, such as those on Taiwan. But a commentary piece published this weekend by state news agency Xinhua emphasized that China will not yield on its prerogative about how to manage its economy.
The Chinese-language article published Saturday claimed there were five ways in which the U.S. is harming the growth of the global economy by launching a trade war with the Asian giant.
“At the negotiating table, the U.S. government has made many arrogant requests, including restricting the development of state-owned enterprises,” the commentary said, according to a CNBC translation. “Obviously, this is beyond the field and scope of trade negotiations, (and) touches upon China’s fundamental economic system.”
-snip-
Read more: https://www.cnbc.com/2019/05/27/china-is-digging-in-its-heels-on-protecting-a-state-run-economy.html
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