Chinese Foreign Minister Wang Yi addresses the media during a news conference following his meeting with Greek Foreign Minister Nikos Kotzias (not pictured) at the Foreign Ministry in Athens, Greece, April 23, 2017. REUTERS/Michalis Karagiannis
SCMP: US trade gap complaints ‘perplexing’ but China’s door is still open for talks, Wang Yi says
Foreign minister repeats stance that Beijing doesn’t want a trade war
Washington’s complaints about trade imbalances between the US and China are “perplexing” but Beijing’s door remains open for talks, Chinese Foreign Minister Wang Yi said on Monday.
Wang, who is also a State Councillor, added that dialogue should be based on mutual respect while threats and pressure would be “counterproductive”, reiterating that Beijing did not want a trade war with Washington.
“China’s door of dialogue and negotiation remains open, but any dialogue must be based on equality, mutual respect and rules. Any threat or pressure by one side will only be counterproductive,” Wang said during a joint news conference with Britain’s Foreign Secretary Jeremy Hunt in Beijing.
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WNU Editor: China's door is not open for trade talks, and what's perplexing to the Chinese foreign minister is not the trade imbalance, but that the U.S. is now doing to China what China has been doing to the U.S. for years. This analysis is correct .... China Is Losing the Trade War With Trump (Donald L. Luskin, WSJ).
Update: This is only going to escalate .... Trade War Casualties: Factories Shifting Out Of China (Kenneth Rapoza, Forbes).
Update #2: Another analysis saying the same thing .... US is winning the trade war, and Chinese growth falling to 5 per cent will be the proof (David Brown, SCMP).
Update #3: I expect the Chinese will be doing this in the coming months, and the trade war will become a currency war with graver consequences .... Should We Expect A Large Chinese Yuan Devaluation? (Seeking Alpha).