January 20, 2019

China to 'step up' market reforms amid USA trade war

06 November 2018, 03:46 | Darnell Patrick

China's Xi promises market opening as import fair begins

The China International Import Expo to be held at Shanghai's National Exhibition and Convention Centre, will feature over 3,000 firms from more than 130 countries and regions this year. The firms will showcase goods and services they hope

Washington has snubbed the gathering by not sending high-level representation.

China expects to import $30-trillion worth of goods and $10-trillion worth of services in the next 15 years, Xi said.

He told VOA, "We were waiting today for President Xi to inform the world about the reform that will take place in the coming days, but what we wanted to hear, (such as) the complete steps on implementing the reform and a clear timetable, did not appear".

Organisers say more than 3,000 foreign companies from 130 countries including the United States, Europe and across Asia, will put their products on display for potential Chinese buyers at the China International Import Expo.

Yet the U.S. government mostly stayed away, even though China said Trump voiced support for the expo in a call with Xi last week. He said the nation would increase purchasing of imported goods and lower tariffs.

The group of leaders also visited the Chinese booth that is organized around the country's vision of innovative, coordinated, green, and open development that is for everyone, which showcased the country's achievements since the reform and opening-up and new opportunities brought to the world by the Belt and Road Initiative. Schumer called it "a direct betrayal of Trump's promise to be tough on China and protect American workers". But he also said those who are not pleased with China's behavior should look at their own treatment of such rights, as well.

Xi also took swipes at President Donald Trump, although he didn't mention the US president by name, according to Bloomberg News.

The Chinese government's top diplomat, State Councillor Wang Yi, said in March that China would import $8-trillion of goods in the next five years.

Raab demand on Brexit backstop
Former foreign secretary Boris Johnson has denounced a mooted Brexit deal with the European Union as an "absolute stinker" and urged MPs to reject it.

Trump, Democrats in frenzied final push ahead of United States elections
The event marks the seventh rally that President Trump has held in Tennessee since he announced his candidacy for president. Instead of new blasts, he chose to retweet a series of past musings.

Man City thrash Southampton to go top again
Sterling struck twice either side of the break and then passed up a hat-trick chance by teeing up Sane's late sixth. I have the feeling he is now enjoying scoring goals and making assists and be important in winning games.

"China has a big market of 1.3 billion people, and we are sincerely opening the market to all countries".

He said China's $12 trillion-a-year economy is "a sea, not a small pond" and can withstand shocks.

Cabinet Secretaries Peter Munya (Trade and Industry), James Macharia (Transport and Infrastructure), and Monica Juma (Foreign affairs) are part of the President's delegation. They spoke highly of and warmly welcomed Xi's keynote speech at the opening ceremony.

China is India's largest trading partner with a total trade of $89.71 billion in 2017-18.

Instead, people involved in planning meetings have said they were anticipating an event long on symbolism and short on substance meant to signal China's willingness to narrow trade deficits and openness.

"It is important for us therefore to correct the existing trade imbalance to enable a fair share of the benefits of trade", he said.

"It seems like what (Xi) is actually doing is saving up all of his goodies to trade away with Trump as opposed to doing anything unilateral", said Scott Kennedy, a Chinese economic expert at the Center for Strategic and International Studies. China wants Shanghai to be one of the world's leading worldwide financial centers by 2020.

President Uhuru Kenyatta's ongoing visit to China has yielded fruits after the world's largest silk producer announced plans to set up shop in Kenya.

Other News

Trending Now

Rooney to make England swansong vs. USA
Unfortunately, the fairytale ended this week as Rooney missed a penalty in a 3-2 penalty shootout defeat to the Columbus Crew. Rooney, a record goalscorer for both Manchester United and England , has not played global football for almost two years.

Priyanka Chopra Kicks Off Her Bachelorette Weekend With Boats, Bling, and Booze
She wore a handsome white satin and fur gown, a Marchesa dress, designed by her long-time friend and designer Georgina Chapman. The girls' weekend comes after Priyanka's opulent bridal shower, which took place at Tiffany & NY last month.

Comedian Pete Davidson criticized for mocking injured veteran on SNL
Donald Trump Jr., the President's son, tweeted that the comment "sounds more like leftist editorial than anything these days". The National Republican Congressional Committee also released a statement demanding that Davidson and NBC apologize.

Eagles-Saints and Steelers-Jaguars among Week 11 changes — NFL Flex
The Bears' Week 11 game against the Vikings on Sunday, Nov. 18, at Soldier Field has been flexed from a noon start to 7:20 p.m. Instead, we'll be getting a Vikings-Bears game where first place in the NFC North will be on the line no matter what.

Mac Miller died from mix of fentanyl, cocaine and ethanol, coroner says
Rapper Mac Miller's cause of death was revealed on November 5, and coroner's say he died of a mixture of fentanyl and cocaine. A bottle of prescription pills was also found in his bathroom, including Xanax, Oxycodone, Hydrocodone, and generic Adderall.

United States service member killed in 'insider attack' in Afghanistan
North Ogden Mayor Brent Taylor has died while serving in the Utah National Guard in Afghanistan, North Ogden officials say. My prayers and love are with Jennie and his 7 young children. "His service will always be remembered", Hatch said.

Amazon could split its HQ2 between 2 cities, Wall Street Journal reports
Spokesmen for Amazon and realtor JBG Smith declined to comment for the WaPo report, as did Arlington County officials. Amazon would split the workforce equally among the two new locations, creating 25,000 new jobs in each city.

Woman Allegedly Claimed She Choked Out Bouncer Because He Groped Her
He told police he did not react because he thought it was a friend playing a joke on him, the Associated Press reported. The bouncer was much larger than Lagrave, and she had to jump to reach him from behind to place him in a chokehold.

There are spoilers below for Monday night's episode of The Walking Dead in the UK. But I miss it terribly and I miss the relationships and I miss the people.

Wisconsin Girl Scouts, 1 adult killed in hit-and-run crash
Two girls and a chaperone were killed on the roadside, according to the Lake Hallie Police Department, which is investigating. Three young Girl Scouts and a mother were killed Saturday while cleaning garbage out of a ditch in Lake Hallie, Wisconsin.