Implementing tariffs and cutting economic ties \u201cis a short-sighted approach and it is doomed to failure,\u201d Xi said at the Asia-Pacific Economic Cooperation CEO summit on Saturday in Papua New Guinea. Protectionism and unilateralism were overshadowing global growth, and a policy of erecting economic barriers was doomed to fail, Xi said.<\/p>\n
The growing US-China trade dispute is looming large at the APEC summit this weekend in Papua New Guinea, where US vice-president Mike Pence on Saturday said the Trump administration won\u2019t change course of tariffs until China \u201cchanges its ways.\u201d The US has so far imposed tariffs on $250 billion in Chinese imports. In retaliation, China has slapped tariffs on $110 billion in imports from the US and effectively shut off its purchase of key American agricultural exports including soybeans.<\/p>\n
\u201cDisagreements should be resolved through consultation,\u201d Xi told the forum on a cruise ship anchored off Port Moresby. \u201cAttempts to form exclusive blocs or impose one\u2019s will on others should be rejected. History has shown that confrontation, whether in the form of a cold war, a hot war or a trade war, will produce no winners.\u201d<\/p>\n
Pence began his speech by saying the US commitment to the Indo-Pacific had never been stronger. He criticized infrastructure funding that saddled developing nations with debt and took a swipe at China\u2019s Belt and Road Initiative.<\/p>\n
\u201cThe United States offers a better option. We don\u2019t drown our partners in a sea of debt,\u201d he said. \u201cWe don\u2019t offer a constricting belt or a one-way road.\u201d<\/p>\n
Xi reminded the audience that Papua New Guinea, a Pacific nation that has been the recipient of large amounts of aid and loans from Beijing, played an important role during World War II.<\/p>\n","protected":false},"excerpt":{"rendered":"
Implementing tariffs and cutting economic ties \u201cis a short-sighted approach and it is doomed to failure,\u201d Xi said at the Asia-Pacific Economic Cooperation CEO summit on Saturday in Papua New Guinea. Protectionism and unilateralism were overshadowing global growth, and a policy of erecting economic barriers was doomed to fail, Xi said. The growing US-China trade […]<\/p>\n","protected":false},"author":1,"featured_media":47575,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[87],"tags":[],"class_list":["post-47574","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/47574","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=47574"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/47574\/revisions"}],"predecessor-version":[{"id":47576,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/47574\/revisions\/47576"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/47575"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=47574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=47574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=47574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}