China is leaving Donald Trump’s America behind


An army of Chinese entrepreneurs faces the future with a sense of adventure

YESTERDAY by: Michael Moritz

A week in China is enough to persuade anyone that the world has spun back to front. The benefits of immigration, the quest for fresh discoveries, the desire for education, the recognition of the benefits of stability, purpose and enterprise are flourishing in China at the very time that they are being maligned, belittled or ignored in the US by Donald Trump.

Take immigrants. The Chinese government has decided to expand a programme that allows qualified foreign graduates to obtain work and residency permits. It also floated the possibility of expanding the programme to provide for permanent residency. Compare this with the demonisation of Muslims, once welcomed in America, the proposed reversal of the “Dreamer” programme and the dragnets of Homeland Security personnel rounding up illegal immigrants in the US.

What about education? In China the central and provincial governments are rushing to build thousands of new schools in rural areas. The thirst for education accounts for a disproportionate amount of household spending. You have only to look at the burgeoning after-school tuition market to see the consequences. Millions of Chinese children are being prepped for tests. And private tutors, who are compensated according to bonus systems, earn an average of about $50,000 a year with a handful of outliers making as much as $300,000; although state schoolteachers take home much less.

Then consider factories. While Mr Trump barks about wanting to restore the manufacturing jobs of the 1950s, the Chinese are taking the opposite tack. Instead of placing more people on assembly lines, the government wants to install millions of robots over the coming decade. It has set itself the more audacious challenge of raising literacy levels rather than pretending it is possible to return to the past.

There are plenty of other examples of how China is advancing while most of the US is either stuck in neutral or going into reverse. This week several Chinese airlines reported that their earnings were being hurt by travellers using freshly built high-speed train services. A number of local governments are saying that they intend to develop Hyperloop systems. Whether these initiatives amount to anything remains to be seen, but they stand in stark contrast to California’s $64bn effort to build a high-speed train track over a relatively short distance in the state’s Central Valley.

Meanwhile, China’s army of entrepreneurs is facing the future with an unrivalled sense of adventure and curiosity. The millions of internet-connected bikes that have appeared on the streets of China’s major cities during the past 18 months, although greeted with fury in some quarters, are the most visible emblem of this. Then there is DJI, a Shenzhen company and offshoot of the robotics lab of the Hong Kong University of Science and Technology, that makes 70 per cent of all drones sold around the world.

The most impressive example of Chinese global leadership is in electronic payments thanks to Alipay and WeChat Pay, the payment systems of the country’s two largest internet companies, Alibaba and Tencent. Every day, 600m payments course through WeChat Pay, allowing Chinese millennials to go for months without having to use cash.

Westerners often complain about the policies of the Chinese government. But from Beijing the world looks very different. Today’s political chaos in Washington and London leaves many Chinese wondering whether their long-held predictions about the eventual collapse of democracy are coming true. Either way, there can be little debate about what the government in China has done to improve the wellbeing of its people over the past 30 years.

If Mr Trump demands proof of the progress made in China in terms he understands, he should send the managers of his pocket-sized portfolio of hotels to visit the best hotels in Beijing and Shanghai. There they would find a level of service unparalleled in New York, London or Paris. Perhaps then even Mr Trump would understand that China has much to teach the rest of us.

Source: Computer Games Forum “China is leaving Donald Trump’s America behind”

This is a Financial Times’ article carried by Computer Games Forum. I find it interesting so that I reblog it here. It does not mean I agree or disagree with the article’s views.

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China Rising while the US Declining, South Korea’s Greatest Concerns


A THAAD interceptor is launched. Photo: Reuters

National Interest publishes Sandy Pho’s article “South Korea’s Greatest Fear (and It Isn’t a North Korean Invasion” on August 31 reflects South Korean people’s concerns on a rising China’s economic pressure due to the deployment of THAAD and fear that the US will not be able to protect South Korea as the US seems even unable to afford the costs of such protection.

South Korean people are unhappy about trump’s withdrawal from TPP, complaints about the U.S.-South Korea trade deficit, and calls for Seoul to pay more of the costs of having U.S. military forces in South Korea.

On the other hand, South Korea’s trade with China has risen to $300 billion greater than its trade with any others and it has substantial trade surplus with China. Moreover In 2015 Chinese travelers account for more than 50% of South Korea’s 17.2 million foreign tourists. Being big spenders, they spent nearly $13.7 billion there.

Now due to China’s opposition to the deployment of THAAD in South Korea, Chinese travelers has decreased nearly 40% and some Chinese people are boycotting South Korean products. Chinese government has created trouble for some South Korean companies involved in the deployment.

The article says, “South Koreans are frustrated over the lack of creative solutions from Washington and Beijing and deeply resent being used as a pawn in a U.S.-China regional competition.”

Indeed, it seems there is nothing South Korea can do to free itself from the predicament. It cannot survive without US nuclear and conventional military protection; therefore, there is limit to its leaders to be more active and independent in dealing with North Korea in spite of being told by their people to do so.

On the other hand, it cannot upset China because it will be in great trouble if China chooses to support North Korea.

The writer of the article wants his president Trump to do some Seoul searching. What is the use of Seoul searching? The US is declining and lacks the financial resources to perform its obligations to protect Europe, Japan, South Korea and many other countries.

Work hard to make the US rich and prosperous. That shall be the correct findings of US people’s Seoul searching.

As for South Korea, it really has lots of better alternatives than the deployment of THAAD. It can simply ask China what protection China can provide it if it does not deploy THAAD. It shall realize its own importance in East Asia. For the US it is an indispensable part of the US security triangle of US, Japan and South Korea in Asia. If it switches to China and Russia’s side and tells US troops to go home, the US will be in real trouble and will never dare to ask South Korea to pay for the costs of its military in South Korea.

Trump wants to reduce US financial burdens as the world’s only hegemon but cannot as he does not want to give up US world hegemony. Even if he wants, Congress and American people will not allow him. That is US weak point that Seoul can exploit.

China wants world leadership in win-win cooperation to benefit itself while benefiting others. Success of its free trade area (FTA) with South Korea has already brought lots of benefits to both countries. The FTA is also very important for China’s ambition to establish the Asia-Pacific Free Trade Area, of which South Korea constitutes an important part.

With such weak point and ambition in South Korean leader’s mind, he will has much room of maneuver.

Comment by Chan Kai Yee on National Interest’s article, full text of which can be viewed at http://nationalinterest.org/feature/south-koreas-greatest-fear-it-isnt-north-korean-invasion-22128.


U.S.-China trade talks sputtering at 100-day deadline


FILE PHOTO – U.S. President Donald Trump and Chinese President Xi Jinping (R) shake hands prior to a meeting on the sidelines of the G20 Summit in Hamburg, Germany, July 8, 2017.Saul Loeb/ Pool/File Photo

Andrew Galbraith and Dominique Patton July 16, 2017 / 5:07 PM / 14 hours ago

SHANGHAI/BEIJING (Reuters) – Bilateral talks aimed at reducing the U.S. trade deficit with China have yielded some initial deals, but U.S. firms say much more needs to be done as a deadline for a 100-day action plan expires on Sunday.

The negotiations, which began in April, have reopened China’s market to U.S. beef after 14 years and prompted Chinese pledges to buy U.S. liquefied natural gas. American firms have also been given access to some parts of China’s financial services sector.

More details on the 100-day plan are expected to be announced in the coming week as senior U.S. and Chinese officials gather in Washington for annual bilateral economic talks, rebranded this year as the “U.S.-China Comprehensive Economic Dialogue.”

“We hope to report further progress on the 100-day deliverables next week,” a U.S. Commerce Department spokesman said on Saturday. “That will be the basis for judging the extent of progress.”

The spokesman declined to discuss potential areas for new agreements since a May 11 announcement on beef, chicken, financial services and LNG.

Earlier in April, when Chinese President Xi Jinping met U.S. President Donald Trump for the first time at his Florida resort, Xi agreed to a 100-day plan for trade talks aimed at boosting U.S. exports and trimming the U.S. trade deficit with China.

The U.S. goods trade deficit with China reached $347 billion last year. The gap in the first five months of 2017 widened about 5.3 percent from a year earlier, according to U.S. Census Bureau data.

“It is an excellent momentum builder, but much more needs to be done for U.S.-China commercial negotiations to be considered a success,” said Jacob Parker, vice president of China operations at the U.S.-China Business Council (USCBC) in Beijing.

There has been little sign of progress in soothing the biggest trade irritants, such as U.S. demands that China cut excess capacity in steel and aluminum production, lack of access for U.S. firms to China’s services market, and U.S. national security curbs on high-tech exports to China.

The Trump administration is considering broad tariffs or quotas on steel and aluminum on national security grounds, partly in response to what it views as a glut of Chinese production that is flooding international markets and driving down prices.

North Korea has cast a long shadow over the relationship, after Pyongyang tested what some experts have described as an intercontinental ballistic missile on July 4.

Trump has linked progress in trade to China’s ability to rein in North Korea, which counts on Beijing as its chief friend and ally.

“Trade between China and North Korea grew almost 40 percent in the first quarter. So much for China working with us – but we had to give it a try!” Trump said on Twitter after the North Korean missile test.

Trading Meat

American beef is now available in Chinese shops for the first time since a 2003 U.S. case of “mad cow” disease, giving U.S. ranchers access to a rapidly growing market worth around $2.6 billion last year.

More beef deals were signed during an overseas buying mission by the Chinese last week.

“There are hopes there will be even more concrete results,” Chinese Foreign Ministry spokesman Geng Shuang told a daily news briefing in Beijing on Friday. He did not elaborate.

Critics of the 100-day process said China had already agreed to lift its ban on U.S. beef last September, with officials just needing to finalize details on quarantine requirements.

China, meanwhile, has delivered its first batch of cooked chicken to U.S. ports after years of negotiating for access to the market.

But unlike the rush by Chinese consumers for a first taste of American beef, Chinese poultry processors have not had a flurry of orders for cooked chicken.

Demand should improve once China is allowed to ship Chinese grown, processed and cooked chicken to the United States, said Li Wei, export manager at Qingdao Nine Alliance Group, China’s top exporter of processed poultry.

Biotech Crops

Other sectors in China under U.S. pressure to open up have moved more slowly.

Beijing had only approved two of the eight biotech crops waiting for import approval, despite gathering experts to review the crops on two occasions in a six-week period.

U.S. industry officials had signalled they were expecting more approvals. U.S. executives say the review process still lacks transparency.

Financial services is another area where little progress has been made, U.S. officials say.

USCBC’s Parker said it is unclear how long it will take for foreign credit rating agencies to be approved, or whether U.S.-owned suppliers of electronic payment services will be able to secure licenses.

The bilateral talks have also not addressed restrictions on foreign investment in life insurance and securities trading, or “the many challenges foreign companies face in China’s cybersecurity enforcement environment,” Parker said.

In an annual report released Thursday, the American Chamber of Commerce in Shanghai said China remained a “difficult market”.

Additional reporting by David Lawder in WASHINGTON, Ben Blanchard in BEIJING and Beijing Newsroom; Editing by Ryan Woo and Bill Tarrant

Source: Reuters “U.S.-China trade talks sputtering at 100-day deadline”

Note: This is Reuters’ report I post here for readers’ information. It does not mean that I agree or disagree with the report’ views.


Trump says he is considering quotas, tariffs on Chinese steel dumping


U.S. President Donald Trump reacts as he attends a joint news conference with French President Emmanuel Macron at the Elysee Palace in Paris, France, July 13, 2017. Photo by Kevin Lamarque

Ayesha Rascoe July 14, 2017 / 3:18 AM / 3 hours ago

(Reuters) – U.S. President Donald Trump said he is considering quotas and tariffs to deal with the “big problem” of steel dumping from China and others.

“They’re dumping steel and destroying our steel industry, they’ve been doing it for decades, and I’m stopping it. It’ll stop,” he told reporters on Air Force One during a flight from the United States to France.

“There are two ways: quotas and tariffs. Maybe I’ll do both,” he said.

Steel stocks rallied on the news, recovering some of the year-to-date declines in the sector.

The S&P 1500 steel sector index added as much as 3 percent shortly after Trump’s remarks. The index rallied nearly 40 percent in the weeks following the Nov. 8 election, but so far this year it was down 6.6 percent at Wednesday

On Thursday, the VanEck Vectors steel exchange-traded fund rose 0.6 percent after being down 1 percent before Trump’s remarks. AK Steel shares gained 7.9 percent, Nucor gained 2.6 percent and US Steel added 4.0 percent.

Trump’s action on steel is a part of a campaign pledge he made to help revive U.S. manufacturing. The administration’s decision on steel could be unveiled in the coming weeks.

Trump also said he would invite Russian President Vladimir Putin to the White House.

“I don’t think this is the right time, but the answer is yes, I would,” Trump said when asked if he would extend such an invitation to the Russian leader.

Reporting by Ayesha Rascoe; additional reporting by Rodrigo Campos; writing by Jeff Mason; Editing by Jonathan Oatis

Source: Reuters “Trump says he is considering quotas, tariffs on Chinese steel dumping”

Note: This is Reuters’ report I post here for readers’ information. It does not mean that I agree or disagree with the report’ views.


China says ‘China responsibility theory’ on North Korea has to stop


The intercontinental ballistic missile Hwasong-14 is seen in this undated photo released by North Korea’s Korean Central News Agency (KCNA) in Pyongyang July 5, 2017. KCNA/via REUTERS

China hit back on Tuesday in unusually strong terms at repeated calls from the United States to put more pressure on North Korea, urging a halt to what it called the “China responsibility theory”, and saying all parties needed to pull their weight.

U.S President Trump took a more conciliatory tone at a meeting with Chinese President Xi Jinping on Saturday, but he has expressed some impatience that China, with its close economic and diplomatic ties to Pyongyang, is not doing enough to rein in North Korea.

That feeling has become particularly acute since Pyongyang launched an intercontinental ballistic missile that some experts believe could have the range to reach Alaska, and parts of the U.S. West Coast.

Asked about calls from the United States, Japan and others for China to put more pressure on North Korea, Chinese Foreign Ministry spokesman Geng Shuang said it was not China ratcheting up tension and the key to a resolution did not lie with Beijing.

“Recently, certain people, talking about the Korean peninsula nuclear issue, have been exaggerating and giving prominence to the so-called ‘China responsibility theory,'” Geng told a daily news briefing, without naming any parties.

“I think this either shows lack of a full, correct knowledge of the issue, or there are ulterior motives for it, trying to shift responsibility,” he added.

China has been making unremitting efforts and has played a constructive role, but all parties have to meet each other half way, Geng said.

“Asking others to do work, but doing nothing themselves is not OK,” he added. “Being stabbed in the back is really not OK.”

While China has been angered by North Korea’s repeated nuclear and missile tests, it also blames the United States and South Korea for worsening tension with their military exercises.

China has been upset with the U.S. deployment of an advanced anti-missile system in South Korea too, which it says threatens its own security and will do nothing to ease tensions.

Additionally, Beijing has complained about Washington putting unilateral sanctions on Chinese companies and individuals for their dealings with North Korea.

Geng questioned how China’s efforts could bear fruit if, while it tried to put out the flames, others added oil to the fire, and if, while it enforced U.N. resolutions, others harmed its interests.

Everyone needed to accept their responsibilities to get the North Korea issue back on the correct track of a peaceful resolution through talks, he added.

“The ‘China responsibility theory’ on the peninsula nuclear issue can stop,” Geng said.

(Reporting by Ben Blanchard; Editing by Clarence Fernandez)

Source: Reuters “China says ‘China responsibility theory’ on North Korea has to stop”

Note: This is Reuters’ report I post here for readers’ information. It does not mean that I agree or disagree with the report’ views.


Quiet success for China at G20 as Xi avoids drama and spotlight


FILE PHOTO – U.S. President Donald Trump and Chinese President Xi Jinping (R) shake hands prior to a meeting on the sidelines of the G20 Summit in Hamburg, Germany, July 8, 2017. REUTERS/Saul Loeb/ Pool/File Photo

By Ben Blanchard | BEIJING Mon Jul 10, 2017 | 9:23am EDT

From U.S. anger over inaction on North Korea to a festering border dispute with India and the ailing Chinese Nobel laureate Liu Xiaobo, last week’s G20 summit was strewn with minefields for China’s President Xi Jinping.

By chance or by strategy, Xi and his officials picked their way through unscathed.

Beijing is ultra-sensitive about Xi’s image and ensuring he gets the respect it sees as his due as leader of an emerging superpower, especially when traveling to Western countries where it cannot so tightly control the public narrative.

Diplomatic sources in Beijing, speaking ahead of Xi’s trip to the G20 gathering in the German city of Hamburg, said Chinese officials had in private expressed nervousness that he could be asked awkward questions about North Korea, or the cancer-struck Liu, jailed for 11 years in 2009 for “inciting subversion of state power”.

In the end it was U.S. President Donald Trump’s meeting with Russian President Vladimir Putin, amid accusations Russia interfered in the U.S. election, and Trump’s refusal to return to the Paris climate agreement that dominated the limelight.

Xi, by contrast, avoided controversy in his bilateral meetings and reaffirmed China’s commitment to the Paris deal and to an open global economy, in what the official China Daily called the “burnishing of (his) reputation”.

“Nobody talked about the South China Sea. No one talked about trade. Everyone was happy with Xi. I think he played this well,” said Ulrich Speck, senior fellow at the Elcano Royal Institute in Brussels.

“All eyes were on Trump and Putin. But the fact that there was no U.S.-China clash was at least as important. Xi stayed out of the alpha-male fight. China presented itself as a partner to Europe.”

Chinese Foreign Minister Wang Yi said Xi “made it clear that the G20 should adhere to taking the path of open development and mutual benefit leading to all-win results, support a multilateral trade mechanism, and promote international trade and investment”.

“China was in a good place at G20, with reasonable policies,” said Jin Canrong of the School of International Studies at the Renmin University of China, who has advised the government on diplomatic matters.

“So President Xi was comfortable and positive there.”

DON’T MENTION TAIWAN

Potentially the biggest test was Xi’s meeting with Trump, who in the run-up to Hamburg had voiced frustration over China’s inability to rein in its troublesome erstwhile ally, North Korea.

In the event, Trump returned to the conciliatory tone struck at their first meeting in April, telling the Chinese leader it was “an honor to have you as a friend” and he appreciated actions Xi had already taken to try to dissuade North Korea from pursuing nuclear weapons.

Influential Chinese state-run tabloid the Global Times said in an editorial on Monday that the Xi-Trump meeting had defied “the naysayers in the West”.

“Beijing and Washington saw friction on issues including Taiwan and the South China Sea ahead of the meeting, and there was speculation from Western public opinion that the China-U.S. ‘honeymoon’ had come to an end. But the Xi-Trump meeting repudiates such speculation,” the paper said.

Speaking to reporters later on Air Force One, U.S. Treasury Secretary Steven Mnuchin said the Trump-Xi meeting lasted more than an hour-and-a-half, and would have gone on longer had they not had to leave for other engagements.

Ruan Zongze, a former Chinese diplomat now with the China Institute of International Studies, a think-tank affiliated with the Foreign Ministry, said Xi was much more upbeat than when he spoke to Trump a few days ahead of G20 and mentioned certain unnamed “negative factors” in their relationship.

“Even on trade Trump underscored that he wants cooperation,” Ruan said.

China’s biggest concern had been U.S. policy toward self-ruled Taiwan, after the Trump administration approved a $1.42 billion arms package for Taiwan, claimed by China as its own.

Neither government mentioned Taiwan in their respective accounts of their G20 meeting.

Chinese officials were at pains to point out their good relations with the new administration in Washington.

Vice Finance Minister Zhu Guangyao told reporters in Hamburg that the Chinese and U.S. teams dealing the bilateral financial relationship clearly understood that both would be hurt by fighting with each other.

“Our strength is communicating every morning and every evening. This is unprecedented,” Zhu said.

NO DRAMA, FOR NOW…

On India, where China has over the past few weeks accused New Delhi of provocation by sending troops across the border in a disputed region, Xi avoided drama by not having a formal bilateral meeting with Indian Prime Minister Narendra Modi, though India’s foreign ministry said they did speak.

Even on Liu Xiaobo, Xi avoided being put on the spot, with China on Saturday allowing a U.S. and German doctor to meet him at his hospital in northeastern China.

Still, the faultlines remain in the tricky China-United States relationship.

China may respond more assertively if, for example, more Chinese entities are sanctioned by the United States over North Korea or Trump raises barriers to Chinese goods as he has frequently threatened, said a senior Beijing-based Western diplomat.

“China has been restrained so far in reacting to Trump, but that is unlikely to last,” said the diplomat, speaking on condition of anonymity. “Things are gearing up to be a summer of drama between China and the United States.”

(Additional reporting by Gao Liangping in Beijing, Roberta Rampton in Washington and Noah Barkin in Hamburg; Editing by Alex Richardson)

Source: Reuters “Quiet success for China at G20 as Xi avoids drama and spotlight”

Note: This is Reuters’ report I post here for readers’ information. It does not mean that I agree or disagree with the report’ views.


Trump keeps it friendly with Xi at G20 on North Korea threat


U.S. President Donald Trump and Chinese President Xi Jinping (R) meet on the sidelines of the G20 Summit in Hamburg, Germany, July 8, 2017. REUTERS/Saul Loeb, Pool

By Jeff Mason | HAMBURG Sun Jul 9, 2017 | 9:07am EDT

U.S. President Donald Trump took a conciliatory tone on Saturday at a meeting with Chinese President Xi Jinping where the leaders agreed to keep working on two pressing issues: the nuclear threat posed by North Korea and bilateral trade irritants.

Trump campaigned in last year’s presidential election on cracking down on China for its trade practices, but he softened his rhetoric after taking office, saying he wanted to work with China on the nuclear issue.

When the two leaders first met in April at Trump’s Florida resort, they appeared to hit it off. Trump called Xi a “good man” as he urged him to use Beijing’s economic clout to force North Korea to curb its nuclear weapons program.

Lately, Trump has expressed some impatience on China’s role in North Korea – particularly after Pyongyang launched an intercontinental ballistic missile that some experts believe could have the range to reach Alaska, and parts of the U.S. West Coast.

His administration made new arms sales to Taiwan, imposed sanctions on two Chinese citizens and a shipping company and put China on a global human trafficking list. It also accused a Chinese bank of laundering money for Pyongyang.

The White House is also debating trade actions against Beijing, including tariffs on its steel exports and a few days before the G20 talks, Trump complained that trade between China and North Korea had grown.

But he showed none of that impatience on Saturday, when the leaders met at the invitation of Xi at the tail end of the G20 in Germany.

“It’s an honor to have you as a friend,” Trump told Xi, telling him he appreciated actions he had already taken on North Korea.

“As far as North Korea is concerned, we will have, eventually, success. It may take longer than I’d like. It may take longer than you’d like. But there will be success in the end one way or the other,” Trump said.

Speaking to reporters later on Air Force One, U.S. Treasury Secretary Steven Mnuchin said the Trump-Xi meeting lasted over an hour-and-a-half, and they had “substantive discussions” about how to deal with North Korea together.

“In regards to China, we had very direct discussions about North Korea. We had very direct discussions about military and security cooperation,” Mnuchin said.

“I think that President Trump made very clear to President Xi that he is focused on this issue, and wants to move forward and make progress. And I think President Xi gave a very interesting perspective from their standpoint,” he added.

‘CONTROL THE SITUATION’

For his part, Xi told Trump that stronger China-U.S. ties were conducive to stability and prosperity amid global conflicts, and had made “new progress” in some areas “despite some sensitive issues”, Xi said, according to state news agency Xinhua.

Xi stressed the importance of talks with North Korea, and said China’s navy will join next year’s U.S.-led Pacific Rim military exercises.

Xinhua said Xi stressed to Trump China’s position that it adheres to the denuclearization of the Korean peninsula and maintaining peace and stability there.

While China has been angered by North Korea’s repeated nuclear and missile tests, it also blames the United States and South Korea for worsening tension with their military exercises.

“China has many times talked about its principled position, namely that at the same time as the international community making necessary responses to North Korean acts that go against U.N. Security Council resolutions, they must step up efforts to promote talks and manage and control the situation,” Xinhua said, citing Xi.

Xi also reiterated China’s opposition to the U.S. deployment of the Terminal High Altitude Area Defense (THAAD) anti-missile system in South Korea, Xinhua said. China says THAAD threatens its security, despite U.S. and South Korean assurances it is aimed only at defending against North Korea.

Both leaders agreed to maintain close communication and coordination on the Korean peninsula nuclear issue, Xinhua said.

In a statement released on Sunday, Chinese Foreign Minister Wang Yi said Xi and Trump had “enhanced mutual understanding” about the North Korea issue and “confirmed the broad direction of using peaceful means to resolve this issue”.

Trump also mentioned trade imbalances in his meeting with Xi, calling it a “very, very big issue” that he would address.

“I know that China in particular, which is a great trading partner, we will be able to do something that will be equitable and reciprocal,” Trump said.

Senior officials from both countries will meet in Washington on July 19 to discuss economic and trade issues.

(Additional reporting by Ben Blanchard in Beijing, Writing by Roberta Rampton; Editing by Robin Pomeroy, Alistair Bell and Himani Sarkar)

Source: Reuters “Trump keeps it friendly with Xi at G20 on North Korea threat”

Note: This is Reuters’ report I post here for readers’ information. It does not mean that I agree or disagree with the report’ views.