"No More Turning The Other Cheek": Chinese President Vows He'll Strike Back At The U.S.
25 Juner, 2018
Update 2: Trump trade advisor Peter Navarro appeared on CNBC and in his cryptic way appeared to suggest that "there are no plans for investment restrictions" prompting an immediate bounce in markets:
Focusing on the summit's theme of opening up, cooperation and mutual benefit, Xi and the executives exchanged views on topics ranging from the Belt and Road Initiative, innovation and smart manufacturing, to green development and global governance.
Xi said the companies had participated in, witnessed, contributed to and benefited from the reform and opening-up drive of China over the past four decades, during which the country sustained rapid economic growth and helped more than 700 million of its people shake off poverty, according to UN standards.
Beijing has a range of tools at its disposal. While its tariff options are limited by the level of American imports, Beijing can—as it has already done in some cases—hold up M&A deals involving U.S. companies, delay licenses, ramp up inspections or drive its 1 billion-odd consumers to shun American products.
"Apple’s $40 billion market in China for iPhones, the largest in the world, could quickly collapse,” Nicholas Lardy, a senior fellow at the Peterson Institute for International Economics in Washington, wrote in a blog post. “Similarly, General Motors sells more cars in China than in the U.S., sales that could easily be disrupted by the Chinese government.”
“If one door closes, another will open,” the people cited Mr. Xi as telling the corporate leaders, who included executives from U.S. firms including Goldman Sachs Group, Prologis Inc. and Hyatt Hotels Corp. and from European companies including Volkswagen Group, AstraZeneca PLC. and Schneider Electric SE.
In remarks relayed by state media, Mr. Xi noted that the world was undergoing “profound and unprecedented changes” and that China needed to press its advantage in forming alliances and shaping global rules.