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Firms welcome China-US trade consensus, but negotiations pose uncertainties [Copy link] 中文

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Post time 2018-12-3 17:04:14 |Display all floors

A model of Tesla being displayed during Shanghai import expo in November. Photo: VCG

Chinese and US business representatives expressed relief about the truce on trade tariffs reached by the two countries' leaders on Saturday, but experts warned that some uncertainties remain.

Top leaders from China and the US met on Saturday on the sidelines of the G20 summit in Argentina and agreed to take measures to ease bilateral trade tension and maintain close contact. The two sides had very "positive and constructive" discussions over trade and economic issues and agreed not to impose additional tariffs, according to a report from the Xinhua News Agency.

Working teams on both sides will follow the guidance of the consensus reached between the two leaders and step up negotiations toward the removal of all additional tariffs so as to reach a mutually beneficial agreement at an early date, said the report.

It was the first face-to-face meeting between Chinese President Xi Jinping and US President Donald Trump since Trump's visit to China in November 2017. Xu Hongcai, an economist at the China Center for International Economic Exchanges, said that the outcome is undoubtedly an inspiring one for businesses in both countries. Deepening cooperation will bring more confidence to the global economy as well, Xu noted.

The American Chamber of Commerce also said in a statement it sent to the Global Times on Sunday that the meeting results were "as good as we could have expected" considering  the  many and complex issues involved in the two countries' bilateral trade relations.

"This is the most exciting news for US companies like us who are conducting economic and trade cooperation with our Chinese counterparts. This will further promote our cooperation level," said Sherman Ge, a representative of US-based company Metal Shark Boats, which designs and builds custom vessels for commercial and defense purposes.

"We are delighted to see that China-US economic and trade relations are heading in a positive direction, which will further promote the common development of enterprises on both sides," a spokesperson for Lenovo told the Global Times on Sunday.

Deals restarted

Meanwhile, some Chinese manufacturers that rely on exports said that talks on restarting deals with their US customers have already started following the upbeat news.

Ji Zhanghua, the owner of Zhanghua Garment Company in Yiwu, East China's Zhejiang Province, said that some US customers had contacted him to talk about more deals for next month. US retailers are facing difficulties in finding replacements for clothes made in Yiwu that offer the same quality and reasonable prices, Ji said.

Chen Liang, general manager of Dongguan Jinconn New Material Holdings Co, a private company focused on production and processing of magnets, said that his business partners "are very excited about the good outcome of the trade talks."

Jinconn's clients are home appliance makers whose main market is the US, according to Chen, who also said that since the China-US trade war started in March his company had lost orders worth 10 million yuan ($1.44 million).

However, Xu cautioned that "there are still more detailed issues waiting for the two sides to resolve in the coming days. But I would say it's a good start."

Geng Bo, vice secretary-general of the China Solid State Lighting Alliance, a semiconductor industry association, agreed with Xu, saying that he held an attitude of "cautious optimism" toward the upcoming talks.

"Chinese LED products have been included in the 25 percent tariff list imposed by the US. If the tariffs can be reduced through future negotiations, it would be good news for our industry. But given the capricious attitude of the US government, it seems that there are still many uncertainties ahead."

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Post time 2018-12-3 19:25:05 |Display all floors
Hold on to your seat.

Don't leave your car while you're in the eye of a tornado.

The Sino-U.S. trade war isn't over yet despite the apparent lull in the middle of the tempest.

While sessions with the leaders of most other G20 nations had been duly recorded and broadcast immediately thereafter, it was an entire day after FM Wang Yi had spoken to journalists gathered for the occasion that the handshake with Donald Trump was finally shown on CCTV.

The Chinese have a saying, "It is easier to move mountains than to change a person's character."

No one believes that "no tariff" is the end-game of Donald Trump unless he/she is afflicted with pre-senile dementia and doesn't remember how many written agreements the untrustworthy man has already fed into his paper-shredder, let alone the oral ones.

It is easy to see why.

Nothing solid except a vague promise of "no new tariff" has come out of the new round of Sino-U.S. trade discussions at the G20 meeting, a session that has come in the wake of Trump's personal phone call to Beijing a few weeks back.

If his past record is any guide, the U.S. president can instantaneously end any consensus reached during the meeting.  The Chinese side has already made the general promise that we'll buy more American goods to reduce the so-called trade imbalance, without any corresponding return promise from the Americans that they would open up their high-tech export market of things we NEED to purchase.

So that means we're on notice to buy Maine lobsters for every boy and girl at CD BBS at least once a week.

Just remember the history of their total genocidal war against Native Americans -- our genetic brothers and sisters -- after the Lewis-Clark expeditions had made them choose eternal westward expansion as their Manifest Destiny.  This aim will never change as long as they are our fellow passengers on Planet Earth.

Just remember U.S. Vice President Pence's anti-China rhetoric during the OPEC meeting which occurred barely a week ago -- a meeting ending on such a discordant note that for the first time in OPEC's history no consensual statement was issued thereafter.

Just remember how Trump had started the Trade War unilaterally against China immediately after he had ascertained that we had helped him coerce Kim, the North Korean leader, into the Singapore Meeting and unilateral disarmament.

This time he again is talking about his impending meeting with Kim -- in the coming January or February -- while giving the hope about withdrawing bilateral tariffs in the foreseeable future, and this time we again have promised to help him achieve his goal of meeting Kim Jr.

What's to come after the meeting with Kim?

Upon implementation of a third of the promises Trump made during the meeting -- including the withdrawal of ALL tariffs between the two nations and the observance of the Three Communiques regarding the issue of Taiwan, the Sun will rise from the west sometime next year.

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Post time 2018-12-3 22:42:29 |Display all floors
wchao37 Post time: 2018-12-3 19:25
Hold on to your seat.

Don't leave your car while you're in the eye of a tornado.


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Post time 2018-12-4 06:32:55 |Display all floors
GhostBuster Post time: 2018-12-3 22:42

Good imagination!

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Post time 2018-12-5 19:15:01 |Display all floors
OPEC above was a typo -- it should have been APEC obviously.

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Post time 2018-12-6 11:14:27 |Display all floors
wchao37 Post time: 2018-12-5 19:15
OPEC above was a typo -- it should have been APEC obviously.

The era of monopoly seems starting to change hands!
Need better formula to make government machinery runs well!

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Post time 2018-12-8 05:33:35 |Display all floors
Mike Pence didn't make his original speech in a vacuum, nor his bellicose speech on the spur of the moment at the recent APEC meeting.

The speech, as I had predicted, was in fact a prelude to the Cold War announced by him in the October 4th speech.

I was waiting for the results of the G20 meeting to see if the Sun could actually arise from the west before I launch my own counter-attack against the self-styled 'experts' working as professors in well-known Chinese intitutions.

The results have shown unequivocally that I was correct and they were wrong -- that indeed my analysis was down-to-earth and theirs were superficial and perfunctory.

Weren't these gentlemen supposed to be leaders in their field of expertise?

Why is it true that their statement "there couldn't be any Cold War because China didn't want one" is the epitome of folly?

For illustrative purposes, just look at the results of the G20 meeting and Meng's case.

I have never heard of a similar case in which the CFO of a major company in a leading nation gets arrested in a third country according to national laws of the second country to which it is being extradited.

There's no doubt in my mind that Trump and his team knew about Ms. Meng's pending arrest as she was transiting through Canada to go to a third nation.

So everything that transpired and agreed to at the talks should be rejected outright to show China's support of the rule of international law as well as Huawei because the entire edifice upon which Huawei has built its credibility and global respect is not only based on its technological prowess, but also the fact that it has a strong motherland as its support.

If our government appears weak at this juncture and not make the strongest DEMAND for Meng's immediate release, a huge chunk of the Western world will abandon Huawei's 5G standard because people would feel uncomfortable in the presence of a weak government which cannot protect its own citizens from unlawful arrest.

Just think how the US would react if one of its ordinary citizens gets arrested in China legally for a criminal offense -- Trump asked the Chinese leader for the man's release during his first visit to Beijing in 2017 and it was done pronto without any legal proceedings in China -- which at the time already made a mockery of Chinese law in front of the world's audience.

Just remember how the entire US welcomed the return of several convicted US citizens back from North Korea.

People will contrast in their minds the worth of such ordinary US citizens with that of VIP citizens like Ms. Meng, the eldest daughter of Huawei's president, who has not disobeyed any law other than what the US had unilaterally claimed to be punishable as part of its sanctions against a third nation -- Iran..

It is time for the Chinese side to show more than just verbal protests and demand Meng's immediate return from Canada -- or let the Canadians face serious consequences.

China should tell Trudeau to get lost in no uncertain terms, and that he's not worthy of his late dad the former Canadian president Pierre Trudeau.

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