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Economy: China Show No Signs To Give In US Demands

May 28, 2019 | Tuesday

Economy

   

Trade Talks among the United States and China deeply centered on Chinese situation with foreign companies. On Beijing's side, major American complaints regarding their structural aspects within its economy are going against their country's "core interest."

With that, obvious implication shows, the matters are not up for negotiation.

Recently, that "core interest" term generally refers to Beijing's territorial claims, for instance, its situation on Taiwan. However, during last weekend, a commentary article was published by the state news agency Xinhua. The article highlighted China's decision not to yield its prerogative regarding its way to manage its economy.

According to the Chinese-language written article published on Saturday claimed there are five different ways how the U.S. harms the growth of the global economy as it initiates trade war against the second largest economy around the globe.

Upon translation, according to the commentary, within the negotiating table, the U.S. government asked a lot of arrogant requests. That includes the restriction on the development of state-based enterprise. The commentary said that the requests are exceeding the scope of their trade negotiations. Those requests impact China's major economic system.

The article said, based on the U.S. actions, there is somehow an attempt to break China's economic sovereignty.

Among China's state-owned enterprises holds the strategic industries. That includes energy, defense, and telecommunications. As those companies gain on favorable policies, foreign companies complain regarding the unfair advantage. The trade dispute between the U.S. and China from the previous days focused on forced surrender of the proprietary tech and its trampling intellectual property rights.

A number of critics say China benefit economically from joining the World Trade Organization during 2001. That without following the commitments to lessen state control. On China's side, the country had its efforts to improve the role of the market within its economy, allowing foreign companies greater access.

   

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