enhanced_deficit
11-18-2018, 03:54 PM
Fears of escalation in US-China Trade War as APEC summit ends in disarray and two countries fail to agree on a common communique:
Xi, Pence trade barbs over trade war at APEC summit while selling visions for regional cooperation
By KINLING LO | SOUTH CHINA MORNING POST, LEE JEONG-HO | SOUTH CHINA MORNING POST and BHAVAN JAIPRAGAS | SOUTH CHINA MORNING POST
11/17/2018 03:14 PM EST
Chinese President Xi Jinping and Vice President Mike Pence traded barbs at the Asia-Pacific Economic Cooperation summit in Papua New Guinea on Saturday, with each laying the blame for the trade war and growing geopolitical rivalry at the other’s doorstep, while also seeking to sell their vision of a regional development strategy.
In a speech lasting almost 40 minutes, Xi urged the business and political leaders gathered in Port Moresby to uphold free trade and promote a multilateral system.
“Unilateralism and protectionism will not solve problems but add uncertainty to the world economy,” he said. “History has shown that confrontation, whether in the form of a cold war, a hot war or a trade war, produces no winners.”
When it was his turn to take to the podium, Pence was equally fervent but far more direct in his criticism.
“We have great respect for President Xi and China, but as we all know, China has taken advantage of the United States for many, many years and those days are over,” he said.
He then leveled a number of accusations at Beijing, including its insistence on forced technology transfers and intellectual property theft.
“The U.S. will not change course until China changes its ways,” Pence said, adding that there was still room for the White House to introduce new tariffs on Chinese goods.
Since July, Washington has imposed tariffs on $250 billion worth of Chinese imports, while Beijing has slapped similar duties on $110 billion worth of goods it imports from the US. In September, President Donald Trump threatened to extend the tariffs to all of the products it imports from China.
https://static.politico.com/dims4/default/89747c0/2147483647/resize/1160x%3E/quality/90/?url=https%3A%2F%2Fstatic.politico.com%2F6b%2Fd6%2 F01bcf6084d29a79e56907063c531%2F181117-pence-ap-773.jpg
Vice President Mike Pence and Japanese Prime Minister Shinzo Abe arrive for a family photo with leaders and their spouses during the APEC Economic Leaders Meeting summit in Port Moresby, Papua New Guinea on Saturday. | Mark Schiefelbein/AP Photo
https://www.politico.com/story/2018/11/17/xi-jinping-mike-pence-trade-apec-1000495
(https://www.theepochtimes.com/pence-vows-no-end-to-tariffs-until-china-bows_2717973.html)
Pence Vows No End to Tariffs Until China Bows (https://www.theepochtimes.com/pence-vows-no-end-to-tariffs-until-china-bows_2717973.html)
By Reuters
November 17, 2018
PORT MORESBY—The United States will not back down from its trade dispute with the Chinese regime, and might even double its tariffs, unless Beijing bows to U.S. demands, Vice President Mike Pence said on Nov. 17.
In a bluntly worded speech at an Asia Pacific Economic Co-operation (APEC) summit in Papua New Guinea, Pence threw down the gauntlet to China on trade and security in the region.
“We have taken decisive action to address our imbalance with China,” Pence declared. “We put tariffs on $250 billion in Chinese goods, and we could more than double that number.”
“The United States, though, will not change course until China changes its ways.”
The stark warning will likely be unwelcome news to financial markets which had hoped for a thaw in the Sino-U.S. dispute and perhaps even some sort of deal at a G20 meeting later this month in Argentina.
Police called on Chinese delegates as APEC summit tensions boil over
AFP | Updated: Nov 18, 2018https://timesofindia.indiatimes.com/thumb/msid-66676260,imgsize-65021,width-400,resizemode-4/66676260.jpgChina's President Xi Jinping leaves APEC Haus, during the APEC Summit in Port Moresby (Reuters)PORT MORESBY (PAPUA NEW GUINEA): The police were called when Chinese officials attempted to "barge" into the office of Papua New Guinea's foreign minister, it emerged Sunday, as APEC summit tensions boiled over.
The Chinese delegates "tried to barge in" to Rimbink Pato's Port Moresby office Saturday, in an eleventh-hour bid to influence a summit draft communique, but were denied entry, three sources with knowledge of the situation told AFP.
"Police were posted outside the minister's office after they tried to barge in," one source privy to summit negotiations told AFP, requesting anonymity.
Related
US to join Australia in Papua New Guinea naval base plan
17 November 2018
Image caption The US is wary of China's plans in the Pacific region
The US says it will join Australia in developing a naval base in Papua New Guinea (PNG), in an apparent move to curb China's growing influence.
Vice-President Mike Pence said the three countries would work together on the facility on Manus Island.
Australia announced last month that it would work with PNG to develop the island's Lombrum Naval Base.
Mr Pence made the announcement on the sidelines of the Apec summit in the PNG capital, Port Moresby.
"The United States will partner with Papua New Guinea and Australia on their joint initiative at Lombrum Naval Base," he said.
"We will work with these two nations to protect sovereignty and maritime rights in the Pacific islands."
https://www.bbc.com/news/world-asia-46247446
Xi, Pence trade barbs over trade war at APEC summit while selling visions for regional cooperation
By KINLING LO | SOUTH CHINA MORNING POST, LEE JEONG-HO | SOUTH CHINA MORNING POST and BHAVAN JAIPRAGAS | SOUTH CHINA MORNING POST
11/17/2018 03:14 PM EST
Chinese President Xi Jinping and Vice President Mike Pence traded barbs at the Asia-Pacific Economic Cooperation summit in Papua New Guinea on Saturday, with each laying the blame for the trade war and growing geopolitical rivalry at the other’s doorstep, while also seeking to sell their vision of a regional development strategy.
In a speech lasting almost 40 minutes, Xi urged the business and political leaders gathered in Port Moresby to uphold free trade and promote a multilateral system.
“Unilateralism and protectionism will not solve problems but add uncertainty to the world economy,” he said. “History has shown that confrontation, whether in the form of a cold war, a hot war or a trade war, produces no winners.”
When it was his turn to take to the podium, Pence was equally fervent but far more direct in his criticism.
“We have great respect for President Xi and China, but as we all know, China has taken advantage of the United States for many, many years and those days are over,” he said.
He then leveled a number of accusations at Beijing, including its insistence on forced technology transfers and intellectual property theft.
“The U.S. will not change course until China changes its ways,” Pence said, adding that there was still room for the White House to introduce new tariffs on Chinese goods.
Since July, Washington has imposed tariffs on $250 billion worth of Chinese imports, while Beijing has slapped similar duties on $110 billion worth of goods it imports from the US. In September, President Donald Trump threatened to extend the tariffs to all of the products it imports from China.
https://static.politico.com/dims4/default/89747c0/2147483647/resize/1160x%3E/quality/90/?url=https%3A%2F%2Fstatic.politico.com%2F6b%2Fd6%2 F01bcf6084d29a79e56907063c531%2F181117-pence-ap-773.jpg
Vice President Mike Pence and Japanese Prime Minister Shinzo Abe arrive for a family photo with leaders and their spouses during the APEC Economic Leaders Meeting summit in Port Moresby, Papua New Guinea on Saturday. | Mark Schiefelbein/AP Photo
https://www.politico.com/story/2018/11/17/xi-jinping-mike-pence-trade-apec-1000495
(https://www.theepochtimes.com/pence-vows-no-end-to-tariffs-until-china-bows_2717973.html)
Pence Vows No End to Tariffs Until China Bows (https://www.theepochtimes.com/pence-vows-no-end-to-tariffs-until-china-bows_2717973.html)
By Reuters
November 17, 2018
PORT MORESBY—The United States will not back down from its trade dispute with the Chinese regime, and might even double its tariffs, unless Beijing bows to U.S. demands, Vice President Mike Pence said on Nov. 17.
In a bluntly worded speech at an Asia Pacific Economic Co-operation (APEC) summit in Papua New Guinea, Pence threw down the gauntlet to China on trade and security in the region.
“We have taken decisive action to address our imbalance with China,” Pence declared. “We put tariffs on $250 billion in Chinese goods, and we could more than double that number.”
“The United States, though, will not change course until China changes its ways.”
The stark warning will likely be unwelcome news to financial markets which had hoped for a thaw in the Sino-U.S. dispute and perhaps even some sort of deal at a G20 meeting later this month in Argentina.
Police called on Chinese delegates as APEC summit tensions boil over
AFP | Updated: Nov 18, 2018https://timesofindia.indiatimes.com/thumb/msid-66676260,imgsize-65021,width-400,resizemode-4/66676260.jpgChina's President Xi Jinping leaves APEC Haus, during the APEC Summit in Port Moresby (Reuters)PORT MORESBY (PAPUA NEW GUINEA): The police were called when Chinese officials attempted to "barge" into the office of Papua New Guinea's foreign minister, it emerged Sunday, as APEC summit tensions boiled over.
The Chinese delegates "tried to barge in" to Rimbink Pato's Port Moresby office Saturday, in an eleventh-hour bid to influence a summit draft communique, but were denied entry, three sources with knowledge of the situation told AFP.
"Police were posted outside the minister's office after they tried to barge in," one source privy to summit negotiations told AFP, requesting anonymity.
Related
US to join Australia in Papua New Guinea naval base plan
17 November 2018
Image caption The US is wary of China's plans in the Pacific region
The US says it will join Australia in developing a naval base in Papua New Guinea (PNG), in an apparent move to curb China's growing influence.
Vice-President Mike Pence said the three countries would work together on the facility on Manus Island.
Australia announced last month that it would work with PNG to develop the island's Lombrum Naval Base.
Mr Pence made the announcement on the sidelines of the Apec summit in the PNG capital, Port Moresby.
"The United States will partner with Papua New Guinea and Australia on their joint initiative at Lombrum Naval Base," he said.
"We will work with these two nations to protect sovereignty and maritime rights in the Pacific islands."
https://www.bbc.com/news/world-asia-46247446