Tech

Xi: China avoids decoupling in tensions with US, Europe

Kuala Lumpur, Malaysia (AP) – Thursday Xi Jinping Jintao of China, in the tension between Washington and Europe over the technology and security, that it may be separated or cut off the country from the United States and other trading partners It spurred the proposal.

Speaking in a video link from Beijing to the Asia-Pacific CEOs’ meeting, Xi promised to open up the Chinese market more widely, but the ruling Communist Party improperly subsidized technology and other industries from foreign competitors. And did not announce an initiative to respond to the protective complaint.

Xi rejected Beijing’s proposal to separate the industry from its global trading partners in response to US sanctions on emerging tech companies.

The ruling Communist Party is promoting its own standards for mobile phones and other technologies, which will allow mobile phone customers to use Chinese suppliers. As a result, there is growing concern that the global market may be divided into smaller segments with incompatible industry standards, potentially reducing productivity.

“We never go back to history by separating to keep others out or forming a’small circle’,” says Xi.

The event on Thursday preceded the Asia-Pacific Economic Cooperation Summit hosted by Malaysia. The meeting on Friday will be held via the internet for a pandemic.

Xi’s comments came after Beijing and 14 other Asian neighbors signed the East Asia Regional Comprehensive Economic Partnership Agreement, the world’s largest free trade agreement, on Sunday.

The RCEP launched by China will appeal to other developing countries to reduce trade barriers for agricultural products, manufactured goods and parts, which account for the majority of exports. It makes little mention of the trade in services and access that companies want to do business in each other’s economies, as the United States and other developed countries want.

For security reasons, the Trump administration has blocked access to most US components and technologies by Chinese tech giant Huawei. Washington has shut Huawei and its rival Chinese telecommunications equipment vendor ZTE out of the US market. The White House is pressing Chinese owners of video service TikTok to sell its US business, but US officials say this is a security risk.

Xi promised to reduce tariffs, but did not provide details.

“We will further reduce tariffs and institutional costs, open up many import trade promotion innovation demonstration zones, and increase imports of high quality products and services from different countries,” he said. It was.

China’s recurring commitment to set up trading areas and relax import restrictions uses such isolated measures to avoid compliance with the promises made when Beijing joined the World Trade Organization in 2001. Foreign companies competing freely in their economies encourage complaints from the United States, Europe, Japan and other trading partners that they are.

China is one of the largest importers in the world, but the United States and other governments have decided to carry out its 20-year-old promise that Beijing will open its market to foreign competitors in banking, finance and other services. He complains that he is pulling his leg.

Sign up for our daily newsletter

Copyright © 2020 The Washington Times, LLC.



Xi: China avoids decoupling in tensions with US, Europe

Source link Xi: China avoids decoupling in tensions with US, Europe

Back to top button