Trump, Xi to hold high-stake talks on trade on sidelines of G20 summit
- 5 years ago
President Trump has quite the task on his hands squeezing concessions out of his Chinese counterpart because Beijing has its own ideas on what's a two-way street on trade....
That's right.
China's main argument is that, as a developing country, domestic firms are at a disadvantage compared to foreign investors, which possess advanced technologies that Chinese firms don't understand.
While this claim may hold water in some less developed countries, the U.S. dismisses it,... saying China's technological capabilities have exploded over the last couple of decades.
"You see in China we certainly do not want to have any trade war with anybody else, certainly not the United States. And we want to have a negotiated solution to the current issues. But the key to this solution is a balanced approach to the concerns of both sides."
That's right.
China's main argument is that, as a developing country, domestic firms are at a disadvantage compared to foreign investors, which possess advanced technologies that Chinese firms don't understand.
While this claim may hold water in some less developed countries, the U.S. dismisses it,... saying China's technological capabilities have exploded over the last couple of decades.
"You see in China we certainly do not want to have any trade war with anybody else, certainly not the United States. And we want to have a negotiated solution to the current issues. But the key to this solution is a balanced approach to the concerns of both sides."