The year 2018 marked a shift in China debate from “Cooperation to Competition” in the media and academia around the world. It all began in March, 2018 when National People’s Congress of the Chinese Communist Party (CCP) extended Xi Jinping’s presidential term indefinitely.&nbsp;

Xi’s signature project Belt and Road initiative (BRI), a Chinese grand strategy to reclaim centre stage in world affairs through economic trade and infrastructure investments, has faced criticism because of its 'debt-trap diplomacy'. 
 
In last five years,&nbsp;China has built seaports which can be used for both civilian and military usage, hence, it is going to increase Chinese strategic influence on many critical choke points and sea lanes of communications along the shipping routes of the world.&nbsp;

According to the Lowy Institute’s Asian Power Index 2018, China is evaluated as an Asian superpower, enjoying the superpower status with the US in Asia. On the account of these major backdrops, Trump administration started a tariff war for middle income trapped Chinese economy, where GDP to debt ratio is now believed to be more than 300 per cent, a dangerous sign indeed.&nbsp;

This tariff war has started to look uglier in the light of geo-technological competition between the US and China as one can see in the case of Chinese telecom giants Huawei and ZTE. Over the years, the Chinese 'one-party system' maintained their political legitimacy based on the Han-nationalism and export-driven economic development. It is interesting to watch how CCP will use Han-nationalism especially when tariff war has started to bite the future prospects of economic growth in general.

Last week, Xi’s speech on the occasion of 70th anniversary of&nbsp;the founding of the People's Republic of China (PRC), stirred a fresh round of debate and discussion regarding the future of “one country and two systems” of Taiwan under 1992 consensus. Indeed, Taiwan has always been China’s Achilles Hills. &nbsp;

During her 2019 new year speech, Taiwanese President Tsai Ing-wen, leader of Democratic Progressive Party (DPP), warned city and county officials to take caution in talks with Chinese authority, after pro-China opposition Kuomintang (KMP) won a local election in November, 2018.&nbsp;

Thanks to the democratic dividend in Taiwan, both popular Taiwanese political leaders, Tsai Ing-wen (DPP) and Ma Ying-jeou (KMT) rejected Chinese President Xi’s proposal of “one country and two systems” under 1992 consensus.&nbsp;

Even former Taiwanese President Ma Ying-jeou disputed the Chinese interpretation of 1992 consensus. Both major political parties, DPP and KMT are willing to enter into discussion with Xi administration, but without any Chinese precondition. In order to have a comprehensive understanding of the political situation, however, one must need to understand the legal nature of Taiwan’s constitutional order too. Any proposed amendment towards the Independence of Taiwan will require constitutional amendments. 
 
It is a daunting task, therefore, to take the opposition parties on board with the ruling parties, which requires the approval of three-quarters of the members of the Legislative Yuan and endorsement of over half of eligible voters of Taiwan. These political scenarios pose some serious questions, which need to be analysed in the near future: Prior to the 20th party congress of CCP, can Xi administration be able to “reunify” Taiwan forcefully? Why there is a clash of interpretations on “1992 consensus” between China and Taiwan? How fundamentally “1992 Consensus” is different from “One China policy”? What are those historical trajectories, which led to creating complicated political scenarios in Taiwan? How crucial will be the role of local Taiwanese people in deciding the future of Taiwan? Based on the analysis of the above mentioned geopolitical and geo-economic realities in the Indo-pacific region, one cannot ignore the crucial role of the superpowers in deciding the political future of Taiwan. &nbsp;

No doubt, the US has far superior military might than the Chinese military. The US Navy is equivalent to the next thirteen Navies put together, while the US defence budget is equal to the next seven largest national defence budgets in the world. On January 1, 2019, Trump administration signed Asia Reassurance Initiative Act (ARIA), signalling the US Congress alignment for reinvigorating the US alliance and cultivating emerging regional partnerships for the Indo-Pacific region. Earlier in March, 2018, Trump administration passed the Taiwan Travel Act (TTA) for high-level diplomatic exchanges between the US and Taiwan. Though the US supports 'One China policy', the catch here is the very definition of the term “One China” for both countries. Later in June, 2018, the US established a de facto embassy along with 400 staffs in Taipei. The US has already normalised the arms sales to Taiwan.&nbsp;

The US Navy has run freedom of navigation three times in the international water of Taiwan Strait. By all account, Sino-US bilateral relation certainly cannot be described as one of the best phases. &nbsp;

In conclusion, the need of the hour is the use&nbsp;of political wisdom by all three parties involved in the Taiwan crisis namely China, Taiwan and the US. One must need to avoid any sort of armed conflict to resolve this crisis. It is only through dialogue, discussion and proper consultation by keeping consideration of local people’s opinion in Taiwan, peace and stability in the Indo-Pacific region can be restored. &nbsp; 
 
(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

The year 2018 marked a shift in China debate from “Cooperation to Competition” in the media and academia around the world. It all began in March, 2018 when National People’s Congress of the Chinese Communist Party (CCP) extended Xi Jinping’s presidential term indefinitely.

The year 2018 marked a shift in China debate from “Cooperation to Competition” in the media and academia around the world. It all began in March, 2018 when National People’s Congress of the Chinese Communist Party (CCP) extended Xi Jinping’s presidential term indefinitely. Xi’s signature project Belt and Road initiative (BRI), a Chinese grand strategy to reclaim centre stage in world affairs through economic trade and infrastructure investments, has faced criticism because of its 'debt-trap diplomacy'. In last five years, China has built seaports which can be used for both civilian and military usage, hence, it is going to increase Chinese strategic influence on many critical choke points and sea lanes of communications along the shipping routes of the world. According to the Lowy Institute’s Asian Power Index 2018, China is evaluated as an Asian superpower, enjoying the superpower status with the US in Asia. On the account of these major backdrops, Trump administration started a tariff war for middle income trapped Chinese economy, where GDP to debt ratio is now believed to be more than 300 per cent, a dangerous sign indeed. This tariff war has started to look uglier in the light of geo-technological competition between the US and China as one can see in the case of Chinese telecom giants Huawei and ZTE. Over the years, the Chinese 'one-party system' maintained their political legitimacy based on the Han-nationalism and export-driven economic development. It is interesting to watch how CCP will use Han-nationalism especially when tariff war has started to bite the future prospects of economic growth in general. Last week, Xi’s speech on the occasion of 70th anniversary of the founding of the People's Republic of China (PRC), stirred a fresh round of debate and discussion regarding the future of “one country and two systems” of Taiwan under 1992 consensus. Indeed, Taiwan has always been China’s Achilles Hills. During her 2019 new year speech, Taiwanese President Tsai Ing-wen, leader of Democratic Progressive Party (DPP), warned city and county officials to take caution in talks with Chinese authority, after pro-China opposition Kuomintang (KMP) won a local election in November, 2018. Thanks to the democratic dividend in Taiwan, both popular Taiwanese political leaders, Tsai Ing-wen (DPP) and Ma Ying-jeou (KMT) rejected Chinese President Xi’s proposal of “one country and two systems” under 1992 consensus. Even former Taiwanese President Ma Ying-jeou disputed the Chinese interpretation of 1992 consensus. Both major political parties, DPP and KMT are willing to enter into discussion with Xi administration, but without any Chinese precondition. In order to have a comprehensive understanding of the political situation, however, one must need to understand the legal nature of Taiwan’s constitutional order too. Any proposed amendment towards the Independence of Taiwan will require constitutional amendments. It is a daunting task, therefore, to take the opposition parties on board with the ruling parties, which requires the approval of three-quarters of the members of the Legislative Yuan and endorsement of over half of eligible voters of Taiwan. These political scenarios pose some serious questions, which need to be analysed in the near future: Prior to the 20th party congress of CCP, can Xi administration be able to “reunify” Taiwan forcefully? Why there is a clash of interpretations on “1992 consensus” between China and Taiwan? How fundamentally “1992 Consensus” is different from “One China policy”? What are those historical trajectories, which led to creating complicated political scenarios in Taiwan? How crucial will be the role of local Taiwanese people in deciding the future of Taiwan? Based on the analysis of the above mentioned geopolitical and geo-economic realities in the Indo-pacific region, one cannot ignore the crucial role of the superpowers in deciding the political future of Taiwan. No doubt, the US has far superior military might than the Chinese military. The US Navy is equivalent to the next thirteen Navies put together, while the US defence budget is equal to the next seven largest national defence budgets in the world. On January 1, 2019, Trump administration signed Asia Reassurance Initiative Act (ARIA), signalling the US Congress alignment for reinvigorating the US alliance and cultivating emerging regional partnerships for the Indo-Pacific region. Earlier in March, 2018, Trump administration passed the Taiwan Travel Act (TTA) for high-level diplomatic exchanges between the US and Taiwan. Though the US supports 'One China policy', the catch here is the very definition of the term “One China” for both countries. Later in June, 2018, the US established a de facto embassy along with 400 staffs in Taipei. The US has already normalised the arms sales to Taiwan. The US Navy has run freedom of navigation three times in the international water of Taiwan Strait. By all account, Sino-US bilateral relation certainly cannot be described as one of the best phases. In conclusion, the need of the hour is the use of political wisdom by all three parties involved in the Taiwan crisis namely China, Taiwan and the US. One must need to avoid any sort of armed conflict to resolve this crisis. It is only through dialogue, discussion and proper consultation by keeping consideration of local people’s opinion in Taiwan, peace and stability in the Indo-Pacific region can be restored. (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

China’s Taiwan conundrum: New year, old challenges

<a href="http://www.wionews.com/world/how-cold-is-the-moon-at-night-china-to-find-out-190033">China will step up</a> its anti-corruption crackdown this year to focus on education, medical care, environmental protection and other major areas of concern to the public, the anti-graft watchdog said.

Fighting corruption has been a major priority during the administration of President Xi Jinping. He said last month that, while the Chinese Communist Party had won an "overwhelming victory" against graft, deep-seated corruption still needed to be weeded out.

The Party's Central Commission for Discipline Inspection said on Sunday this year's campaign would focus on areas related to "the people's livelihood" and would "let the masses have a greater sense of achievement, greater happiness, and greater security".

This year's efforts would also focus on corruption and other criminal behaviours among grassroots governments, and tackle instances of bribery, abuse of power, negligence and malpractice in the financial sector.

It said it would also aim to prevent "interest groups" from corrupting top officials.

As well as tackling direct corruption, <a href="http://www.wionews.com/business-economy/china-to-cut-restrictions-on-foreign-investment-xinhua-189916">China would also seek to eliminate bureaucratic tendencies</a> in government and "rectify" those officials guilty of behaving in a "perfunctory" manner when carrying out tasks, it said.

China would also aim to participate more in international anti-corruption governance in order to pursue suspects who have fled abroad. China brought 441 "corrupt fugitives" back to the country from August to December last year, the official China Daily said on Monday.

"These efforts aim to finally make officials not dare to, unable to and have no desire to commit any illegal act," the newspaper said in an editorial.

China punished around 621,000 people for corruption last year, including 51 at the ministerial or provincial level or higher, the paper said.

President Xi Jinping said last month that, while the Chinese Communist Party had won an 'overwhelming victory' against graft, deep-seated corruption still needed to be weeded out.

China will step up its anti-corruption crackdown this year to focus on education, medical care, environmental protection and other major areas of concern to the public, the anti-graft watchdog said. Fighting corruption has been a major priority during the administration of President Xi Jinping. He said last month that, while the Chinese Communist Party had won an "overwhelming victory" against graft, deep-seated corruption still needed to be weeded out. The Party's Central Commission for Discipline Inspection said on Sunday this year's campaign would focus on areas related to "the people's livelihood" and would "let the masses have a greater sense of achievement, greater happiness, and greater security". This year's efforts would also focus on corruption and other criminal behaviours among grassroots governments, and tackle instances of bribery, abuse of power, negligence and malpractice in the financial sector. It said it would also aim to prevent "interest groups" from corrupting top officials. As well as tackling direct corruption, China would also seek to eliminate bureaucratic tendencies in government and "rectify" those officials guilty of behaving in a "perfunctory" manner when carrying out tasks, it said. China would also aim to participate more in international anti-corruption governance in order to pursue suspects who have fled abroad. China brought 441 "corrupt fugitives" back to the country from August to December last year, the official China Daily said on Monday. "These efforts aim to finally make officials not dare to, unable to and have no desire to commit any illegal act," the newspaper said in an editorial. China punished around 621,000 people for corruption last year, including 51 at the ministerial or provincial level or higher, the paper said.

China promises graft crackdown in education, health

Watch: WION Your Story, 8th January 2019

North Korean leader <a href="http://www.wionews.com/world/kim-jong-un-on-4-day-visit-to-china-to-meet-president-xi-report-188901">Kim Jong Un's surprise trip to China</a> could herald a new round of summitry on and about the peninsula, analysts say, but may also be an attempt to pressure US President Donald Trump as negotiations between them falter.

Discussions between Pyongyang and Washington over the North's nuclear arsenal have stalled since Kim and Trump's high-profile summit in Singapore, with the US insisting that sanctions must remain in place until it gives up its weapons, and the North demanding an immediate easing.

In his New Year's address -- always a key moment in the North Korean political calendar -- Kim said that if Washington persisted with its approach, "we may be compelled to find a new way for defending the sovereignty of the country and the supreme interests of the state".

With his visit to China, "Kim is eager to remind the Trump administration that he does have diplomatic and economic options besides what Washington and Seoul can offer," said Harry Kazianis of the Center for the National Interest in Washington.

The US should be "quite concerned" by any effort by Pyongyang to strengthen ties with Beijing, he added, as almost all North Korean trade flows through China and any improvement in relations would weaken the Trump administration's "maximum pressure" strategy.

With US and Chinese officials meeting in Beijing to address a trade row that has roiled global markets, he said, "the timing could not be any better" for the Chinese side. "It shows Beijing clearly has a North Korea card to play if it sees fit."

Chinese forces played an integral role defending the North during the 1950-53 Korean War, and Beijing remains Pyongyang's key diplomatic backer and trade partner.

It has always feared the collapse of its neighbour, which would threaten floods of refugees streaming onto its territory and the prospect of US troops stationed on its border in a unified Korea, but in recent years became increasingly frustrated with its nuclear antics.

That changed last spring, when Kim ended six years as a diplomatic recluse to go to Beijing and pay his respects to Xi in his first overseas trip as leader.

A series of visits have followed in both directions -- although Xi has yet to reciprocate with a trip to Pyongyang -- along with three summits between Kim and the South's President Moon Jae-in, and Beijing lent Kim a plane to travel to Singapore.

'Sanctions relief'

At their meeting, Kim and Trump signed a vague pledge to work towards denuclearisation of the Korean peninsula in a blaze of publicity, but the two sides have since disagreed over what that means.

Kim did not visit Seoul by the end of last year, despite South Korea's Moon suggesting he would do so, but speculation of a second Kim-Trump summit to try and break the deadlock has mounted.

A location for the meeting was being negotiated, the US president said at the weekend, leading sceptics to express hopes that its substance and outcomes were also being discussed.

Kim's Beijing trip was an indication he could soon travel to Seoul or hold a second summit with Trump, said Cheong Seong-chang, a senior researcher at the Sejong Institute in Seoul.&nbsp;

Last year Kim visited China ahead of his summits with both Trump and Moon, he pointed out.

The accompanying delegation, he noted, included Kim Yong Chol, North Korea's counterpart to US Secretary of State Mike Pompeo in talks, suggesting that "sanctions relief for Pyongyang" would be on the agenda.

Under Moon, the South has pursued engagement with the North, and analysts in Seoul argued that Chinese concessions could improve the prospects of a deal.&nbsp;

"North Korea could feel insecure or threatened if it gives up its nuclear programmes entirely," said Koh Yu-hwan, professor of North Korean studies at Dongguk University.

"But if Beijing promises Pyongyang that it will provide economic assistance and guarantee its regime security if Pyongyang abandons atomic weapons, it could make the North feel more secure," he told AFP.

Beijing shared Washington's aim of denuclearising Pyongyang, he added, and was "not trying to interfere in the ongoing process between the North and US".

Despite pledges by the Koreas last year to pursue a declaration that the Korean War -- which ended only in an armistice -- is over, little progress has been made, let alone on a full peace treaty.

Beijing sides with Pyongyang on formally ending the three-year conflict, but some suspect North Korea wants to use that to demand US troops in South Korea are withdrawn from the peninsula.

North Korean leader Kim Jong Un's surprise trip to China could herald a new round of summitry on and about the peninsula, analysts say, but may also be an attempt to pressure US President Donald Trump as negotiations between them falter.

North Korean leader Kim Jong Un's surprise trip to China could herald a new round of summitry on and about the peninsula, analysts say, but may also be an attempt to pressure US President Donald Trump as negotiations between them falter. Discussions between Pyongyang and Washington over the North's nuclear arsenal have stalled since Kim and Trump's high-profile summit in Singapore, with the US insisting that sanctions must remain in place until it gives up its weapons, and the North demanding an immediate easing. In his New Year's address -- always a key moment in the North Korean political calendar -- Kim said that if Washington persisted with its approach, "we may be compelled to find a new way for defending the sovereignty of the country and the supreme interests of the state". With his visit to China, "Kim is eager to remind the Trump administration that he does have diplomatic and economic options besides what Washington and Seoul can offer," said Harry Kazianis of the Center for the National Interest in Washington. The US should be "quite concerned" by any effort by Pyongyang to strengthen ties with Beijing, he added, as almost all North Korean trade flows through China and any improvement in relations would weaken the Trump administration's "maximum pressure" strategy. With US and Chinese officials meeting in Beijing to address a trade row that has roiled global markets, he said, "the timing could not be any better" for the Chinese side. "It shows Beijing clearly has a North Korea card to play if it sees fit." Chinese forces played an integral role defending the North during the 1950-53 Korean War, and Beijing remains Pyongyang's key diplomatic backer and trade partner. It has always feared the collapse of its neighbour, which would threaten floods of refugees streaming onto its territory and the prospect of US troops stationed on its border in a unified Korea, but in recent years became increasingly frustrated with its nuclear antics. That changed last spring, when Kim ended six years as a diplomatic recluse to go to Beijing and pay his respects to Xi in his first overseas trip as leader. A series of visits have followed in both directions -- although Xi has yet to reciprocate with a trip to Pyongyang -- along with three summits between Kim and the South's President Moon Jae-in, and Beijing lent Kim a plane to travel to Singapore. 'Sanctions relief' At their meeting, Kim and Trump signed a vague pledge to work towards denuclearisation of the Korean peninsula in a blaze of publicity, but the two sides have since disagreed over what that means. Kim did not visit Seoul by the end of last year, despite South Korea's Moon suggesting he would do so, but speculation of a second Kim-Trump summit to try and break the deadlock has mounted. A location for the meeting was being negotiated, the US president said at the weekend, leading sceptics to express hopes that its substance and outcomes were also being discussed. Kim's Beijing trip was an indication he could soon travel to Seoul or hold a second summit with Trump, said Cheong Seong-chang, a senior researcher at the Sejong Institute in Seoul. Last year Kim visited China ahead of his summits with both Trump and Moon, he pointed out. The accompanying delegation, he noted, included Kim Yong Chol, North Korea's counterpart to US Secretary of State Mike Pompeo in talks, suggesting that "sanctions relief for Pyongyang" would be on the agenda. Under Moon, the South has pursued engagement with the North, and analysts in Seoul argued that Chinese concessions could improve the prospects of a deal. "North Korea could feel insecure or threatened if it gives up its nuclear programmes entirely," said Koh Yu-hwan, professor of North Korean studies at Dongguk University. "But if Beijing promises Pyongyang that it will provide economic assistance and guarantee its regime security if Pyongyang abandons atomic weapons, it could make the North feel more secure," he told AFP. Beijing shared Washington's aim of denuclearising Pyongyang, he added, and was "not trying to interfere in the ongoing process between the North and US". Despite pledges by the Koreas last year to pursue a declaration that the Korean War -- which ended only in an armistice -- is over, little progress has been made, let alone on a full peace treaty. Beijing sides with Pyongyang on formally ending the three-year conflict, but some suspect North Korea wants to use that to demand US troops in South Korea are withdrawn from the peninsula.

'Kim Jong Un meeting China's Xi to up pressure on Trump'

China&nbsp;and the United States held a vice ministerial-level call on Friday, the second such contact in a week, achieving a "deep exchange of views" on trade imbalances and the protection of intellectual property, the Chinese Ministry of Commerce said.

A statement posted on the ministry's website on Sunday said the two countries "made new progress" on those issues, without specifying further.

It also said&nbsp;China&nbsp;and the United States discussed arrangements for the next call and mutual visits.

On Wednesday, the ministry said Beijing and Washington had held a vice ministerial-level telephone call about trade and economic issues, without providing other details.

The calls took place amid signs of a thaw in a trade dispute between the United States and&nbsp;China, the world's two largest economies.

<a href="http://www.wionews.com/world/donald-trump-us-president-marks-another-year-of-controversies-185674">US President Donald Trump</a> and <a href="http://www.wionews.com/india-news/sino-india-ties-actively-moving-forward-president-xi-18570">Chinese President Xi Jinping</a> this month agreed to a truce that delayed the planned January 1 US&nbsp;increase of tariffs on $200 billion worth of Chinese goods while they negotiate a trade deal.

Chinese Commerce Ministry officials indicated earlier the two countries were in close contact over trade, and any US&nbsp;trade delegation would be welcome to visit.

China and the United States held a vice ministerial-level call on Friday, the second such contact in a week, achieving a "deep exchange of views" on trade imbalances and the protection of intellectual property, the Chinese Ministry of Commerce said.

China and the United States held a vice ministerial-level call on Friday, the second such contact in a week, achieving a "deep exchange of views" on trade imbalances and the protection of intellectual property, the Chinese Ministry of Commerce said. A statement posted on the ministry's website on Sunday said the two countries "made new progress" on those issues, without specifying further. It also said China and the United States discussed arrangements for the next call and mutual visits. On Wednesday, the ministry said Beijing and Washington had held a vice ministerial-level telephone call about trade and economic issues, without providing other details. The calls took place amid signs of a thaw in a trade dispute between the United States and China, the world's two largest economies. US President Donald Trump and Chinese President Xi Jinping this month agreed to a truce that delayed the planned January 1 US increase of tariffs on $200 billion worth of Chinese goods while they negotiate a trade deal. Chinese Commerce Ministry officials indicated earlier the two countries were in close contact over trade, and any US trade delegation would be welcome to visit.

China says it held second vice ministerial call with US on trade

Chinese President Xi Jinping on Friday said Sino-India relations are "actively" moving forward with deepening mutual trust and cooperation, as the <a href="http://www.wionews.com/india-news/wuhan-was-a-milestone-pm-modi-president-xi-have-personal-connect-sushma-swaraj-185698">foreign ministers of the two countries held extensive talks </a>in New Delhi under a newly established framework.

In his message of congratulations to the first meeting of 'High Level Mechanism on Cultural and People-to-People Exchanges' being held in New Delhi, Xi said China and India are both ancient civilisations boasting long history and splendid culture.

The two civilizations, with close exchanges and mutual learning from the ancient time, have both made significant contributions to the human development and progress, he said.&nbsp;

"Today, China-India relations are actively moving forward, with mutual political trust deepening, practical cooperation accelerating, people-to-people and cultural exchanges flourishing, and bilateral coordination in international and regional affairs sustaining," state-run Xinhua news agency quoted Xi as saying.

It has been proved by practice that a good bilateral relationship benefits not only both countries but also the whole world, Xi added.&nbsp;

The Chinese president also expressed the hope for the two sides to make proper use of the high-level people-to-people exchange mechanism.&nbsp;

With the help of the profound implication in the two Oriental civilisations, China and India should promote the communication between the minds of the two peoples and forge a closer development partnership, Xi said.&nbsp;

External Affairs Minister Sushma Swaraj and her Chinese counterpart Wang Yi on Friday held extensive talks in New Delhi and agreed on "ten pillars" of cooperation to enhance cultural and people-to-people exchanges.

The 10 pillars are cultural exchange, cooperation in films and television, cooperation in museum administration, cooperation sports, exchanges between youths, cooperation on tourism, exchanges between states and cities, cooperation in traditional medicine, cooperation in yoga and cooperation in education.

The 'High Level Mechanism on Cultural and People-to-People Exchanges' was decided upon during the Wuhan summit between Prime Minister Narendra Modi and President Xi.

Chinese President Xi Jinping on Friday said Sino-India relations are "actively" moving forward with deepening mutual trust and cooperation, as the foreign ministers of the two countries held extensive talks in New Delhi under a newly established framework.

Chinese President Xi Jinping on Friday said Sino-India relations are "actively" moving forward with deepening mutual trust and cooperation, as the foreign ministers of the two countries held extensive talks in New Delhi under a newly established framework. In his message of congratulations to the first meeting of 'High Level Mechanism on Cultural and People-to-People Exchanges' being held in New Delhi, Xi said China and India are both ancient civilisations boasting long history and splendid culture. The two civilizations, with close exchanges and mutual learning from the ancient time, have both made significant contributions to the human development and progress, he said. "Today, China-India relations are actively moving forward, with mutual political trust deepening, practical cooperation accelerating, people-to-people and cultural exchanges flourishing, and bilateral coordination in international and regional affairs sustaining," state-run Xinhua news agency quoted Xi as saying. It has been proved by practice that a good bilateral relationship benefits not only both countries but also the whole world, Xi added. The Chinese president also expressed the hope for the two sides to make proper use of the high-level people-to-people exchange mechanism. With the help of the profound implication in the two Oriental civilisations, China and India should promote the communication between the minds of the two peoples and forge a closer development partnership, Xi said. External Affairs Minister Sushma Swaraj and her Chinese counterpart Wang Yi on Friday held extensive talks in New Delhi and agreed on "ten pillars" of cooperation to enhance cultural and people-to-people exchanges. The 10 pillars are cultural exchange, cooperation in films and television, cooperation in museum administration, cooperation sports, exchanges between youths, cooperation on tourism, exchanges between states and cities, cooperation in traditional medicine, cooperation in yoga and cooperation in education. The 'High Level Mechanism on Cultural and People-to-People Exchanges' was decided upon during the Wuhan summit between Prime Minister Narendra Modi and President Xi.

Sino-India ties actively moving forward: President Xi Jinping

President Donald Trump on Friday predicted a major <a href="http://www.wionews.com/world/trump-and-china-called-a-truce-in-the-trade-war-now-what-181070">US-China trade deal</a> in the near future, saying that Beijing's negotiating position had been weakened by the impact of the tariffs war between the world's top two economies.

"China wants to make a big and very comprehensive deal. It could happen, and rather soon!" Trump tweeted.

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
China just announced that their economy is growing much slower than anticipated because of our Trade War with them. They have just suspended U.S. Tariff Hikes. U.S. is doing very well. China wants to make a big and very comprehensive deal. It could happen, and rather soon!
— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1073617541476569088?ref_src=twsrc%5Etfw">December 14, 2018</a></blockquote>
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His optimism followed China's decision earlier Friday to back off from extra punitive duties that had been imposed this summer on US-made cars and auto parts.

The move was seen as the first concrete result of the US leader's<a href="http://www.wionews.com/world/us-china-agree-to-trade-war-ceasefire-more-talks-180930"> G20 talks with his counterpart Xi Jinping </a>earlier this month.

Those tariffs now fall from 40 per cent to 15 per cent -- the same rate imposed on all foreign-made vehicles. The relief will last for three months from January 1.

"Suspension of the tariffs is a concrete measure to implement the consensus reached by the two heads of state," said the announcement by the State Council's Tariff Commission Office, noting it applied to 211 product codes.

Trump said the climbdown showed that China had been forced to blink in their on-off spat, after months of heavy <a href="http://www.wionews.com/world/china-envoy-warns-of-dire-consequences-if-us-hardliners-hold-sway-179861">US tariffs</a> on Chinese imports.

"China just announced that their economy is growing much slower than anticipated because of our Trade War with them. They have just suspended U.S. Tariff Hikes. US&nbsp;is doing very well," Trump said.

Beijing's move also demonstrated that talks to resolve the trade conflict have survived the tension sparked by Canada's arrest of a top Chinese telecom executive at the behest of US law enforcement.

Meng Wanzhou, chief financial officer of telecoms behemoth Huawei, has been released on bail in Canada. China wants her unconditional release. Washington wants her extradited for allegedly violating US sanctions on Iran.

China apparently retaliated by detaining two Canadians on suspicion of "harm to national security" -- a phrase often used by Beijing when alleging espionage.

Washington insists that the case is driven purely by the US Justice Department, rather than anything to do with the trade dispute, but Trump has muddied the waters by suggesting he might intervene if that would help the trade talks.

Tit for tat

Trump and Chinese leader Xi Jinping agreed on the sidelines of the G20 summit in Buenos Aires on December 1 to a 90-day truce while they tried to find a solution to the escalating trade dispute.

Confusion and unease over what agreement the two sides reached in Argentina has roiled stock markets.

But trade negotiators talked on the phone this week to discuss a timetable for talks. Friday's announcement in Beijing also confirms what Trump said on December 2 about China acting on the auto tariffs.

"We hope that both sides will -- in accordance with the consensus reached by the two heads of state, on the premise of mutual respect, mutual equality, faithfulness, words and actions -- intensify consultations in the direction of cancelling all of the extra tariff increases," the State Council's statement said.

Stand to benefit

The tariff suspension will benefit US carmakers like Tesla and Ford which have seen China sales tumble.

"It is essential that governments work together to advance balanced and fair trade. We look forward to learning more," a spokesman for Ford said after Trump announced China would cut car tariffs.

International automakers Daimler, maker of the Mercedes-Benz, and BMW have also exported American-made SUVs to China.

US exports to China fell 25 per cent on-year in November as the higher tariffs on hundreds of American goods hurt demand.

In another signal that China may move to satisfy Trump, the country's top legislature announced Friday that it would hold a session from December 23-29 to discuss legislation on foreign investment and draft revisions to the patent law.

The United States has long complained of a lack of fair access for foreign companies in China and rampant theft of intellectual property.

For now, the National People's Congress Standing Committee has not provided details about the draft legislation.

Maintaining and resolving the trade truce could help stabilize sentiment in China, where confidence in the economy has been hurt by the trade frictions with Washington.

Earlier on Friday, economic data showed Chinese consumer spending grew at its slowest pace in 15 years and factories eased up in November, raising the prospect that Beijing could turn to fresh stimulus measures to help the sputtering economy.

China's top officials on the Politburo said in a statement Thursday that major economic indicators will be kept within a reasonable range next year.

"The meeting also signalled further market opening," economists at Trivium Research wrote in a newsletter.

President Donald Trump on Friday predicted a major US-China trade deal in the near future, saying that Beijing's negotiating position had been weakened by the impact of the tariffs war between the world's top two economies.

President Donald Trump on Friday predicted a major US-China trade deal in the near future, saying that Beijing's negotiating position had been weakened by the impact of the tariffs war between the world's top two economies. "China wants to make a big and very comprehensive deal. It could happen, and rather soon!" Trump tweeted. China just announced that their economy is growing much slower than anticipated because of our Trade War with them. They have just suspended U.S. Tariff Hikes. U.S. is doing very well. China wants to make a big and very comprehensive deal. It could happen, and rather soon! — Donald J. Trump (@realDonaldTrump) December 14, 2018 × His optimism followed China's decision earlier Friday to back off from extra punitive duties that had been imposed this summer on US-made cars and auto parts. The move was seen as the first concrete result of the US leader's G20 talks with his counterpart Xi Jinping earlier this month. Those tariffs now fall from 40 per cent to 15 per cent -- the same rate imposed on all foreign-made vehicles. The relief will last for three months from January 1. "Suspension of the tariffs is a concrete measure to implement the consensus reached by the two heads of state," said the announcement by the State Council's Tariff Commission Office, noting it applied to 211 product codes. Trump said the climbdown showed that China had been forced to blink in their on-off spat, after months of heavy US tariffs on Chinese imports. "China just announced that their economy is growing much slower than anticipated because of our Trade War with them. They have just suspended U.S. Tariff Hikes. US is doing very well," Trump said. Beijing's move also demonstrated that talks to resolve the trade conflict have survived the tension sparked by Canada's arrest of a top Chinese telecom executive at the behest of US law enforcement. Meng Wanzhou, chief financial officer of telecoms behemoth Huawei, has been released on bail in Canada. China wants her unconditional release. Washington wants her extradited for allegedly violating US sanctions on Iran. China apparently retaliated by detaining two Canadians on suspicion of "harm to national security" -- a phrase often used by Beijing when alleging espionage. Washington insists that the case is driven purely by the US Justice Department, rather than anything to do with the trade dispute, but Trump has muddied the waters by suggesting he might intervene if that would help the trade talks. Tit for tat Trump and Chinese leader Xi Jinping agreed on the sidelines of the G20 summit in Buenos Aires on December 1 to a 90-day truce while they tried to find a solution to the escalating trade dispute. Confusion and unease over what agreement the two sides reached in Argentina has roiled stock markets. But trade negotiators talked on the phone this week to discuss a timetable for talks. Friday's announcement in Beijing also confirms what Trump said on December 2 about China acting on the auto tariffs. "We hope that both sides will -- in accordance with the consensus reached by the two heads of state, on the premise of mutual respect, mutual equality, faithfulness, words and actions -- intensify consultations in the direction of cancelling all of the extra tariff increases," the State Council's statement said. Stand to benefit The tariff suspension will benefit US carmakers like Tesla and Ford which have seen China sales tumble. "It is essential that governments work together to advance balanced and fair trade. We look forward to learning more," a spokesman for Ford said after Trump announced China would cut car tariffs. International automakers Daimler, maker of the Mercedes-Benz, and BMW have also exported American-made SUVs to China. US exports to China fell 25 per cent on-year in November as the higher tariffs on hundreds of American goods hurt demand. In another signal that China may move to satisfy Trump, the country's top legislature announced Friday that it would hold a session from December 23-29 to discuss legislation on foreign investment and draft revisions to the patent law. The United States has long complained of a lack of fair access for foreign companies in China and rampant theft of intellectual property. For now, the National People's Congress Standing Committee has not provided details about the draft legislation. Maintaining and resolving the trade truce could help stabilize sentiment in China, where confidence in the economy has been hurt by the trade frictions with Washington. Earlier on Friday, economic data showed Chinese consumer spending grew at its slowest pace in 15 years and factories eased up in November, raising the prospect that Beijing could turn to fresh stimulus measures to help the sputtering economy. China's top officials on the Politburo said in a statement Thursday that major economic indicators will be kept within a reasonable range next year. "The meeting also signalled further market opening," economists at Trivium Research wrote in a newsletter.

'Big' China-US trade deal could happen rather soon : Trump

The G-20 meeting is over, and there's good news and bad news for the Dow Jones Industrial Average and other stock market indexes, according to a Dow Jones Newswires report on Sunday.

Here's the good news following a Saturday night dinner between President Donald Trump and Chinese President Xi Jinping in Buenos Aires: The United States said it won't impose 25 per cent tariffs on Chinese goods in January, as it had planned, and China agreed to buy more US agricultural goods.

It's essentially a cease-fire, for now, in the trade war between the world's two largest economies.

The bad news is that this deal opened a 90-day window to negotiate a deal not just on trade but also on protecting intellectual property, ending the forced transfer of technology, and more.

If those negotiations aren't successful, then it's tariff time.

It's unclear how the market will react to the news, given last week's massive rally.

The S&amp;P 500's 4.8 per cent rise - its biggest in about seven years - was, in part, a response to Federal Reserve Chairman Jerome Powell's dovish tone.

But it was also a bet on a deal being reached.

The market, however, is forward-looking, and so the question will become whether the typical sell-the-news reaction kicks in.

But one thing is clear - the stakes in the negotiations between the US and China are huge.

Paul Ashworth, chief US economist at Capital Economics, notes that if talks fail, tariffs would rise on the $200 billion of goods already on the receiving end, and would be imposed on the remaining $250 billion that are, so far, penalty-free.

"This is very much a temporary pause," he writes.

And a high-stakes one at that.

The G-20 meeting is over, and there's good news and bad news for the Dow Jones Industrial Average and other stock market indexes, according to a Dow Jones Newswires report on Sunday.

The G-20 meeting is over, and there's good news and bad news for the Dow Jones Industrial Average and other stock market indexes, according to a Dow Jones Newswires report on Sunday. Here's the good news following a Saturday night dinner between President Donald Trump and Chinese President Xi Jinping in Buenos Aires: The United States said it won't impose 25 per cent tariffs on Chinese goods in January, as it had planned, and China agreed to buy more US agricultural goods. It's essentially a cease-fire, for now, in the trade war between the world's two largest economies. The bad news is that this deal opened a 90-day window to negotiate a deal not just on trade but also on protecting intellectual property, ending the forced transfer of technology, and more. If those negotiations aren't successful, then it's tariff time. It's unclear how the market will react to the news, given last week's massive rally. The S&P 500's 4.8 per cent rise - its biggest in about seven years - was, in part, a response to Federal Reserve Chairman Jerome Powell's dovish tone. But it was also a bet on a deal being reached. The market, however, is forward-looking, and so the question will become whether the typical sell-the-news reaction kicks in. But one thing is clear - the stakes in the negotiations between the US and China are huge. Paul Ashworth, chief US economist at Capital Economics, notes that if talks fail, tariffs would rise on the $200 billion of goods already on the receiving end, and would be imposed on the remaining $250 billion that are, so far, penalty-free. "This is very much a temporary pause," he writes. And a high-stakes one at that.

Trump and China called a truce in the trade war. Now what?

By Tony Walker

The United States and China have arrived at a temporary truce in a trade conflict that was threatening to further destabilise world equity markets, entrench a global slowdown and cause more damage to a rules-based international order.

Agreement by US President Donald Trump and his Chinese counterpart, Xi Jinping, to allow further negotiations before threatened tariff increases on Chinese imports coming into effect, is a welcome development.

However, this is a temporary respite, a short-term fix, not a long-term solution to myriad trade and other tensions that have put the US and China at odds with each other.

For their own purposes and in their own interests, Trump and Xi have come away from the Argentine capital with a deal that papers over differences that extend from China’s activities in the South China Sea to its mercantilist trade policies.

As far as we know, China’s ruthless assertion of its sovereignty over disputed waters in the South China Sea was not a material subject for discussion in Buenos Aires except, possibly, in passing.

China’s rise and America’s relative decline ensure these global economic superpowers will continue to bump up against each other.

So, what was achieved and what are the prospects for an accord reached on the sidelines of the G20?

In their efforts to lower trade tensions and prevent a further erosion of global confidence, Trump and Xi agreed to a 90-day extension on the imposition of additional US tariffs on some $200 billion of Chinese imports.

Trump had threatened to increase tariffs from 10 per cent to 25 per cent on an initial batch of Chinese imports from January 1. He had also flagged his intention to impose levies on another $267 billion worth of imports if progress was not made in resolving broad-based trade differences.

A joint statement laid out a timeline for continuing negotiations. It reads:

"Both parties agree that they will endeavour to have this transaction completed within the next 90 days. If, at the end of this period of time, the parties are unable to reach an agreement, the 10 per cent tariffs will be raised to 25 percent."

In return for these temporary concessions, China agreed to:

"… purchase a not yet agreed upon, but very substantial, amount of agricultural, energy, industrial, and other product from the United States to reduce the trade imbalance between the two countries. China has agreed to start purchasing agricultural product immediately."

China also agreed to crack down on sales of Fentanyl by making it a controlled substance. The US is battling an opioid crisis in which Fentanyl is a lethal component.

In retaliation for US trade actions, China had imposed duties on US$110 billion of imports. A principal component of this is soybeans, effectively killing one of America’s more lucrative export markets.

Trump has been under huge pressure from his Mid-Western rural heartland over a collapse in the Chinese market for American agricultural products.

The two sides also agreed to address structural problems in the trading relationship. These extend to five areas – forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft.

These are highly complex issues and unlikely to be resolved in the short term, if at all.

In the wash-up of the Xi-Trump discussions, it appears China has got more out of the deal than the US – at least for now. It has secured a stay of execution for the implementation of tariff increases and forestalled, for the time being, tariffs on an additional bloc of Chinese exports.

In return, it has agreed to buy unspecified quantities of US products and to talk about differences.

Trump’s willingness to compromise after months of bombast reflects pressures from a shellshocked grain-producing constituency and alarm on Wall Street at prospects of a full-blown trade war.

From Beijing’s perspective, China has demonstrated that its growing economic heft has enabled it to avoid the appearance of yielding to US pressure.

If not a “win-win” for China – as Chinese officials are fond of saying – it is certainly not a “lose-lose”.

In a statement at odds with months of fire-breathing rhetoric over China’s allegedly perfidious trade practices, Trump hailed his understanding with Xi. He said: "This was an amazing and productive meeting with unlimited possibilities for both the US and China."

For their part, Chinese officials were more circumspect.

Foreign Minister Wang Yi said the talks were conducted in a “friendly and candid atmosphere”. The presidents: "Agreed that the two sides can and must get bilateral relations right… China is willing to increase imports in accordance with the needs of its domestic market and the people’s needs."

Impetus for a face-saving deal in Buenos Aires has been prompted by growing concerns about the global economy. The signs of a slowdown are clear. Trade volumes had begun to moderate in the third quarter, heightening worries of a global retrenchment.

On the sidelines of the G20, the International Monetary Fund’s managing director, Christine Lagarde, noted:

"Pressures on emerging markets have been rising and trade tensions have begun to have a negative impact, increasing downside risks."

In its October Outlook statement, the IMF warned about threats to global growth due to trade disturbances.

In their final communique, G20 leaders danced around contentious issues on trade to accommodate American objections to having the word “protectionism” inserted in the document.

In the end, participants settled on the need for reform of the World Trade Organisation to describe a world trading system that is falling short of its objectives. Washington has been agitating for a review of the WTO to strengthen its dispute resolution and appeal procedures.

The US has also objected to a continuing description of China as a developing country, with concessions that enable it to take advantage of less developed country status in its access to global markets.

On climate change, Washington separated itself from the other G20 members. All, except the US, reaffirmed their commitment to the Paris Agreement. The US announced in 2017 it was pulling out of Paris.

Foreign policy specialists will be sceptical about a de-escalation of trade hostilities given the range of issues bedevilling the US-China relationship.

Reflecting a hardening of US attitudes towards China, and in contrast to the optimism that had prevailed for much of the past two decades, Ely Ratner in Foreign Affairs notes:

"Even if tariffs are put on hold, the United States will continue to restructure the US-China economic relationship through investment restrictions, export controls, and sustained law enforcement actions against Chinese industrial and cyber-espionage."

"At the same time, there are no serious prospects for Washington and Beijing to resolve other important areas of dispute, including the South China Sea, human rights and the larger contest over the norms, rules and institutions that govern relations in Asia."

A stiffening view in the US towards China is shared more or less across the board. In those circumstances, a temporary ceasefire in Buenos Aires is unlikely to be sustained.

 
(Tony Walker is Adjunct Professor, School of Communications, La Trobe University)

(This article was originally published on The Conversation. Read the <a href="https://theconversation.com/g20-summit-bring-a-truce-in-us-china-trade-relations-but-its-likely-to-be-temporary-108017">original article</a>)

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

By Tony Walker The United States and China have arrived at a temporary truce in a trade conflict that was threatening to further destabilise world equity markets, entrench a global slowdown and cause more damage to a rules-based international order.

By Tony Walker The United States and China have arrived at a temporary truce in a trade conflict that was threatening to further destabilise world equity markets, entrench a global slowdown and cause more damage to a rules-based international order. Agreement by US President Donald Trump and his Chinese counterpart, Xi Jinping, to allow further negotiations before threatened tariff increases on Chinese imports coming into effect, is a welcome development. However, this is a temporary respite, a short-term fix, not a long-term solution to myriad trade and other tensions that have put the US and China at odds with each other. For their own purposes and in their own interests, Trump and Xi have come away from the Argentine capital with a deal that papers over differences that extend from China’s activities in the South China Sea to its mercantilist trade policies. As far as we know, China’s ruthless assertion of its sovereignty over disputed waters in the South China Sea was not a material subject for discussion in Buenos Aires except, possibly, in passing. China’s rise and America’s relative decline ensure these global economic superpowers will continue to bump up against each other. So, what was achieved and what are the prospects for an accord reached on the sidelines of the G20? In their efforts to lower trade tensions and prevent a further erosion of global confidence, Trump and Xi agreed to a 90-day extension on the imposition of additional US tariffs on some $200 billion of Chinese imports. Trump had threatened to increase tariffs from 10 per cent to 25 per cent on an initial batch of Chinese imports from January 1. He had also flagged his intention to impose levies on another $267 billion worth of imports if progress was not made in resolving broad-based trade differences. A joint statement laid out a timeline for continuing negotiations. It reads: "Both parties agree that they will endeavour to have this transaction completed within the next 90 days. If, at the end of this period of time, the parties are unable to reach an agreement, the 10 per cent tariffs will be raised to 25 percent." In return for these temporary concessions, China agreed to: "… purchase a not yet agreed upon, but very substantial, amount of agricultural, energy, industrial, and other product from the United States to reduce the trade imbalance between the two countries. China has agreed to start purchasing agricultural product immediately." China also agreed to crack down on sales of Fentanyl by making it a controlled substance. The US is battling an opioid crisis in which Fentanyl is a lethal component. In retaliation for US trade actions, China had imposed duties on US$110 billion of imports. A principal component of this is soybeans, effectively killing one of America’s more lucrative export markets. Trump has been under huge pressure from his Mid-Western rural heartland over a collapse in the Chinese market for American agricultural products. The two sides also agreed to address structural problems in the trading relationship. These extend to five areas – forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft. These are highly complex issues and unlikely to be resolved in the short term, if at all. In the wash-up of the Xi-Trump discussions, it appears China has got more out of the deal than the US – at least for now. It has secured a stay of execution for the implementation of tariff increases and forestalled, for the time being, tariffs on an additional bloc of Chinese exports. In return, it has agreed to buy unspecified quantities of US products and to talk about differences. Trump’s willingness to compromise after months of bombast reflects pressures from a shellshocked grain-producing constituency and alarm on Wall Street at prospects of a full-blown trade war. From Beijing’s perspective, China has demonstrated that its growing economic heft has enabled it to avoid the appearance of yielding to US pressure. If not a “win-win” for China – as Chinese officials are fond of saying – it is certainly not a “lose-lose”. In a statement at odds with months of fire-breathing rhetoric over China’s allegedly perfidious trade practices, Trump hailed his understanding with Xi. He said: "This was an amazing and productive meeting with unlimited possibilities for both the US and China." For their part, Chinese officials were more circumspect. Foreign Minister Wang Yi said the talks were conducted in a “friendly and candid atmosphere”. The presidents: "Agreed that the two sides can and must get bilateral relations right… China is willing to increase imports in accordance with the needs of its domestic market and the people’s needs." Impetus for a face-saving deal in Buenos Aires has been prompted by growing concerns about the global economy. The signs of a slowdown are clear. Trade volumes had begun to moderate in the third quarter, heightening worries of a global retrenchment. On the sidelines of the G20, the International Monetary Fund’s managing director, Christine Lagarde, noted: "Pressures on emerging markets have been rising and trade tensions have begun to have a negative impact, increasing downside risks." In its October Outlook statement, the IMF warned about threats to global growth due to trade disturbances. In their final communique, G20 leaders danced around contentious issues on trade to accommodate American objections to having the word “protectionism” inserted in the document. In the end, participants settled on the need for reform of the World Trade Organisation to describe a world trading system that is falling short of its objectives. Washington has been agitating for a review of the WTO to strengthen its dispute resolution and appeal procedures. The US has also objected to a continuing description of China as a developing country, with concessions that enable it to take advantage of less developed country status in its access to global markets. On climate change, Washington separated itself from the other G20 members. All, except the US, reaffirmed their commitment to the Paris Agreement. The US announced in 2017 it was pulling out of Paris. Foreign policy specialists will be sceptical about a de-escalation of trade hostilities given the range of issues bedevilling the US-China relationship. Reflecting a hardening of US attitudes towards China, and in contrast to the optimism that had prevailed for much of the past two decades, Ely Ratner in Foreign Affairs notes: "Even if tariffs are put on hold, the United States will continue to restructure the US-China economic relationship through investment restrictions, export controls, and sustained law enforcement actions against Chinese industrial and cyber-espionage." "At the same time, there are no serious prospects for Washington and Beijing to resolve other important areas of dispute, including the South China Sea, human rights and the larger contest over the norms, rules and institutions that govern relations in Asia." A stiffening view in the US towards China is shared more or less across the board. In those circumstances, a temporary ceasefire in Buenos Aires is unlikely to be sustained. (Tony Walker is Adjunct Professor, School of Communications, La Trobe University) (This article was originally published on The Conversation. Read the original article) (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

G20 summit brings a truce in US-China trade relations

US President Donald Trump met with his Chinese counterpart President Xi Jinping at a dinner meeting on Saturday on the sidelines of the 13th G20 Summit.

According to reports, the two leaders interacted and discussed the growing trade war between the two biggest economies in the world.&nbsp;

During the start of the dinner, which marked the end of the two-day-long, high-voltage summit, the US President described his relationship with the Chinese President as "very special."

"The relationship is very special — the relationship that I have with President Xi — and I think that is going to be a very primary reason why <a href="http://www.wionews.com/world/china-us-agree-no-new-tariffs-after-january-1-chinese-media-180801">we will probably end up getting something that will be good</a> for China and the United States," Trump said.&nbsp;

Xi, on the other hand, called for mutual cooperation for better ties and easing of tensions. &nbsp;"Only with cooperation between us can we serve the interest of both peace and prosperity," Xi noted.&nbsp;

White House top economic advisor Larry Kudlow shared that the meeting went "very well" and that an official statement on Trump-Xi interaction will be issued shortly by White House spokeswoman Sarah Sanders, news agency AFP reported.&nbsp;

(With inputs from AFP)&nbsp;

 
&nbsp;

US President Donald Trump met with his Chinese counterpart President Xi Jinping at a dinner meeting on Saturday on the sidelines of the 13th G20 Summit. According to reports, the two leaders interacted and discussed the growing trade war between the two biggest economies in the world.

US President Donald Trump met with his Chinese counterpart President Xi Jinping at a dinner meeting on Saturday on the sidelines of the 13th G20 Summit. According to reports, the two leaders interacted and discussed the growing trade war between the two biggest economies in the world. During the start of the dinner, which marked the end of the two-day-long, high-voltage summit, the US President described his relationship with the Chinese President as "very special." "The relationship is very special — the relationship that I have with President Xi — and I think that is going to be a very primary reason why we will probably end up getting something that will be good for China and the United States," Trump said. Xi, on the other hand, called for mutual cooperation for better ties and easing of tensions. "Only with cooperation between us can we serve the interest of both peace and prosperity," Xi noted. White House top economic advisor Larry Kudlow shared that the meeting went "very well" and that an official statement on Trump-Xi interaction will be issued shortly by White House spokeswoman Sarah Sanders, news agency AFP reported. (With inputs from AFP)

At G20 dinner with China's Xi, Trump says their relationship is 'very special'

G20 Summit: Second India-China- Russia trilateral meet after 12 years

By Tony Walker

When US President Donald Trump meets his Chinese counterpart, Xi Jinping, on the margins of the G20 summit in Buenos Aires between November 30 and December 1, nothing less than a reasonably healthy global trading system and continued economic growth will be on the table.

It is one of the more significant meetings between two global leaders in the modern era.

The encounter will recall the high-wire diplomacy between Ronald Reagan and Mikhail Gorbachev in the 1980s, which signalled the end of the Cold War and, as it happened, the disintegration of the former Soviet Union.

Or, before that, Richard Nixon’s visit to China in 1972, which resulted in the signing of the Shanghai Communique and an end to decades of hostility between the United States and China.

World markets unnerved by an evolving trade conflict between the world’s two largest economies will take their cues from this encounter between an unpredictable US president and a Chinese leader who will not want to be seen to yield ground. Or, to give it an oriental description, lose face.

This is a fractious moment in world economic history.

Billions of dollars in global equity markets will rest on a reasonable consensus in the Argentine capital. The two sides will reach for a compromise that will enable relative stability to be restored to an economic relationship that is threatening to unravel.

Since a ragged outcome, or even failure, is in no-one’s interests, it is hard to believe Washington and Beijing will not seek to calm legitimate concerns about the risks of a full-blown trade war and its impact on global growth.

US-China trade tremors are already having an impact on growth projections for 2018-2020.

In its latest World Economic Outlook, the International Monetary Fund reports the world economy is plateauing, partly due to trade tensions and stresses in emerging markets.

The IMF has scaled back its global growth projections from its July Outlook forecast for 2019 to 3.7 per cent from 3.9 per cent. It has marked down US growth by 0.2 percentage point to 2.5 per cent, and China by a similar margin to 6.2 per cent.

However, if trade disruptions persist, fallout will become more serious in 2020 with global growth projected to be down by 0.8 per cent, and with it US and China growth down significantly.

Trade wars have consequences, including risks of a global recession.

All this invests the Trump-Xi encounter with more-than-usual significance. A bad outcome will heighten risks of an accelerating global slowdown.

In the lead-up to the G20, American and Chinese officials have been preparing the ground, with the Chinese side anxious to reduce tensions following a November 1 phone call between the two presidents.

But it is less clear that Washington is willing to ease pressure on China to liberalise further a foreign investment environment, seek ways to reduce a trade gap and make more conspicuous efforts to tone down concerns about Chinese pilfering of its intellectual property.

In a media briefing in Beijing, Chinese officials underscored China’s desire for a reasonable outcome in Buenos Aires. Wang Shouwen, a vice commerce minister, said:

"We hope China and the US are able to resolve their problems based on mutual respect, benefits and honesty."

However, Trump is continuing to threaten further increases in tariffs on $200 billion of Chinese imports now set at 10 per cent but due to increase to 25 per cent from January 1. He told The Wall Street Journal this week:

"The only deal would be China has to open up their country to competition from the United States."

Trump also threatened to slap tariffs on an additional $267 billion worth of Chinese imports if negotiations with Xi are unsuccessful:

"If we don’t make a deal, then I’m going to put the $267 billion additional on (at a tariff rate of either 10 per cent or 25 per cent)."

This next batch of Chinese imports might include laptops and Apple iPhones, which are among China’s biggest exports to the US.

Further complicating the possibility of a satisfactory negotiation in Buenos Aires is a lingering dispute between the US and China over reforms to the World Trade Organisation to strengthen its dispute resolution and appeal mechanisms.

The US also objects to China’s continued description as a “developing country” under WTO rules. This includes provisions that are favourable to Chinese state-owned enterprises.

A collapse in efforts to reform the WTO would strike another blow at a multilateral trading system that is under more stress than at any time since globalisation gathered pace in the 1990s.

The US-China trade conflict, which is threatening to become a full-blown trade war with unpredictable consequences, cannot be separated from a more general deterioration in relations.

These were given expression last month by Vice President Mike Pence in a speech to the Hudson Institute, in which he lambasted China in a way that prompted talk of a new cold war.

Pence accused China of deploying: "… an arsenal of policies inconsistent with free and fair trade, including tariffs, quotas, currency manipulation, forced technology transfers, intellectual property theft and industrial subsidies handed out like candy. These policies have built Beijing’s manufacturing base, at the expense of its competitors – especially the United States."

The US trade deficit with China reached $375 billion last year – nearly half the US global trade deficit.

None of this augurs well for a constructive resolution of US-China differences at the G20, although you might hope Trump’s approach would be tempered by concerns about the economic consequences of a conspicuous failure.

What seems most likely, given the stakes involved, is for officials from both countries to be tasked with responsibility for addressing a range of American concerns, with the aim of resetting the relationship.

This would seem to be a best-case scenario.

In the meantime, officials working on the draft of a final communique will be struggling to satisfy competing demands from G20 participants for clear-cut statements on protectionism and climate change.

These have been staples of such communiques since the G20 was formed ten years ago amid a global financial crisis.

Washington is reportedly resisting an explicit call to fight protectionism. It is also demanding a watering down of the G20’s commitment to the Paris Agreement on climate change.

Consensus on these issues is proving elusive, further undermining efforts to address global challenges.

This underscores a dramatic shift in the global geopolitical environment since Trump gained office.

At the 2016 G20 summit in Hangzhou, world leaders agreed on a “rules-based, transparent, non-discriminatory, open and inclusive multilateral trading system with the World Trade Organisation playing the central role in today’s global trade”.

On climate, the G20 committed itself “to complete our respective domestic procedures in order to join the Paris Agreement”.

Two years later, a “rules-based” trading system is being shredded and the Paris Agreement is at risk of unravelling. These are troubled times, not helped by an American pullback from the stabilising role in global affairs it has played since the second world war. 
 
(Tony Walker is Adjunct Professor, School of Communications, La Trobe University)

(This article was originally published on The Conversation. Read the <a href="https://theconversation.com/much-at-stake-as-donald-trump-and-xi-jinping-meet-at-g20-106774">original article</a>)

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

By Tony Walker When US President Donald Trump meets his Chinese counterpart, Xi Jinping, on the margins of the G20 summit in Buenos Aires between November 30 and December 1, nothing less than a reasonably healthy global trading system and continued economic growth will be on the table.

By Tony Walker When US President Donald Trump meets his Chinese counterpart, Xi Jinping, on the margins of the G20 summit in Buenos Aires between November 30 and December 1, nothing less than a reasonably healthy global trading system and continued economic growth will be on the table. It is one of the more significant meetings between two global leaders in the modern era. The encounter will recall the high-wire diplomacy between Ronald Reagan and Mikhail Gorbachev in the 1980s, which signalled the end of the Cold War and, as it happened, the disintegration of the former Soviet Union. Or, before that, Richard Nixon’s visit to China in 1972, which resulted in the signing of the Shanghai Communique and an end to decades of hostility between the United States and China. World markets unnerved by an evolving trade conflict between the world’s two largest economies will take their cues from this encounter between an unpredictable US president and a Chinese leader who will not want to be seen to yield ground. Or, to give it an oriental description, lose face. This is a fractious moment in world economic history. Billions of dollars in global equity markets will rest on a reasonable consensus in the Argentine capital. The two sides will reach for a compromise that will enable relative stability to be restored to an economic relationship that is threatening to unravel. Since a ragged outcome, or even failure, is in no-one’s interests, it is hard to believe Washington and Beijing will not seek to calm legitimate concerns about the risks of a full-blown trade war and its impact on global growth. US-China trade tremors are already having an impact on growth projections for 2018-2020. In its latest World Economic Outlook, the International Monetary Fund reports the world economy is plateauing, partly due to trade tensions and stresses in emerging markets. The IMF has scaled back its global growth projections from its July Outlook forecast for 2019 to 3.7 per cent from 3.9 per cent. It has marked down US growth by 0.2 percentage point to 2.5 per cent, and China by a similar margin to 6.2 per cent. However, if trade disruptions persist, fallout will become more serious in 2020 with global growth projected to be down by 0.8 per cent, and with it US and China growth down significantly. Trade wars have consequences, including risks of a global recession. All this invests the Trump-Xi encounter with more-than-usual significance. A bad outcome will heighten risks of an accelerating global slowdown. In the lead-up to the G20, American and Chinese officials have been preparing the ground, with the Chinese side anxious to reduce tensions following a November 1 phone call between the two presidents. But it is less clear that Washington is willing to ease pressure on China to liberalise further a foreign investment environment, seek ways to reduce a trade gap and make more conspicuous efforts to tone down concerns about Chinese pilfering of its intellectual property. In a media briefing in Beijing, Chinese officials underscored China’s desire for a reasonable outcome in Buenos Aires. Wang Shouwen, a vice commerce minister, said: "We hope China and the US are able to resolve their problems based on mutual respect, benefits and honesty." However, Trump is continuing to threaten further increases in tariffs on $200 billion of Chinese imports now set at 10 per cent but due to increase to 25 per cent from January 1. He told The Wall Street Journal this week: "The only deal would be China has to open up their country to competition from the United States." Trump also threatened to slap tariffs on an additional $267 billion worth of Chinese imports if negotiations with Xi are unsuccessful: "If we don’t make a deal, then I’m going to put the $267 billion additional on (at a tariff rate of either 10 per cent or 25 per cent)." This next batch of Chinese imports might include laptops and Apple iPhones, which are among China’s biggest exports to the US. Further complicating the possibility of a satisfactory negotiation in Buenos Aires is a lingering dispute between the US and China over reforms to the World Trade Organisation to strengthen its dispute resolution and appeal mechanisms. The US also objects to China’s continued description as a “developing country” under WTO rules. This includes provisions that are favourable to Chinese state-owned enterprises. A collapse in efforts to reform the WTO would strike another blow at a multilateral trading system that is under more stress than at any time since globalisation gathered pace in the 1990s. The US-China trade conflict, which is threatening to become a full-blown trade war with unpredictable consequences, cannot be separated from a more general deterioration in relations. These were given expression last month by Vice President Mike Pence in a speech to the Hudson Institute, in which he lambasted China in a way that prompted talk of a new cold war. Pence accused China of deploying: "… an arsenal of policies inconsistent with free and fair trade, including tariffs, quotas, currency manipulation, forced technology transfers, intellectual property theft and industrial subsidies handed out like candy. These policies have built Beijing’s manufacturing base, at the expense of its competitors – especially the United States." The US trade deficit with China reached $375 billion last year – nearly half the US global trade deficit. None of this augurs well for a constructive resolution of US-China differences at the G20, although you might hope Trump’s approach would be tempered by concerns about the economic consequences of a conspicuous failure. What seems most likely, given the stakes involved, is for officials from both countries to be tasked with responsibility for addressing a range of American concerns, with the aim of resetting the relationship. This would seem to be a best-case scenario. In the meantime, officials working on the draft of a final communique will be struggling to satisfy competing demands from G20 participants for clear-cut statements on protectionism and climate change. These have been staples of such communiques since the G20 was formed ten years ago amid a global financial crisis. Washington is reportedly resisting an explicit call to fight protectionism. It is also demanding a watering down of the G20’s commitment to the Paris Agreement on climate change. Consensus on these issues is proving elusive, further undermining efforts to address global challenges. This underscores a dramatic shift in the global geopolitical environment since Trump gained office. At the 2016 G20 summit in Hangzhou, world leaders agreed on a “rules-based, transparent, non-discriminatory, open and inclusive multilateral trading system with the World Trade Organisation playing the central role in today’s global trade”. On climate, the G20 committed itself “to complete our respective domestic procedures in order to join the Paris Agreement”. Two years later, a “rules-based” trading system is being shredded and the Paris Agreement is at risk of unravelling. These are troubled times, not helped by an American pullback from the stabilising role in global affairs it has played since the second world war. (Tony Walker is Adjunct Professor, School of Communications, La Trobe University) (This article was originally published on The Conversation. Read the original article) (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

Much at stake as Donald Trump and Xi Jinping meet at G20

By Randy Kluver, Robert Hinck and Skye Cooley

When North Korean leader Kim Jong Un in June pledged to work toward “complete denuclearisation of the Korean Peninsula” by 2020, the White House hailed the agreement as “a tremendous moment for the world.”

The agreement came after a year of tense negotiations between North Korean leader Kim Jong Un and US President Donald Trump – an undiplomatic diplomatic process that included insults, threats, name-calling and cancelled diplomatic visits.

“I was really being tough. And so was he,” Trump later said. “And we’d go back and forth. And then we fell in love. OK?”

With all the bilateral drama, it’s easy to forget that this nuclear showdown does not involve just the US and North Korea.

The China-Korea connection

The Korean peninsula has been in a protracted conflict since 1950, when Communist North Korean troops invaded South Korea.

North Korea has been considered a dangerous nuclear power since withdrawing from the international nonproliferation treaty on nuclear weapons in 1985, with neighbouring Japan and South Korea most at risk of nuclear attack.

Both are strong US allies who essentially support Trump’s negotiations with Kim’s regime.

Less certain is the position of China, North Korea’s Communist northern neighbour.

China accounts for 90 percent of North Korea’s foreign trade and is perhaps the only true “friend” North Korea has.

It is also an economic behemoth with its own ambitions of global dominance.

In recent years China has flexed its foreign policy muscles, paying for major infrastructure development in Africa, Pakistan and the Caribbean. Its diplomacy budget has almost doubled since Xi took office in 2013.

Chinese Foreign Ministry Spokesperson Lu Kang has assured the United States that China supports “the US and [orth Korea&nbsp;in actively seeking a political settlement of the Korean Peninsula issue” and is “committed to achieving denuclearisation.”

Korea experts have their doubts.

Many believe China fears that a successful Trump negotiation could lead the US to replace China as North Korea’s top ally. Its government “does not want a reunified Korea, indebted to Washington, sitting just across its border,” Richard McGregor, senior fellow at Australia’s Lowy Institute, told CNN in May.

So where does China’s government really stand on the US-led denuclearisation of North Korea?

China defends North Korea 
 
To answer this question, we analyzed one year of Chinese news coverage and commentary on North Korean denuclearatisation.

Because journalism in China is heavily state-controlled, media analysis can shed light on government positions that may not be public as official policy.

Our project examining China’s view of the US-North Korea negotiations is part of ongoing research into the domestic media coverage of global affairs in Russia and China, two countries that contest America’s dominance in the current world order.

We read China’s position on the Trump-Kim process as delicately balanced between defending its Korean ally while signaling its respect for the international community.

Chinese media makes sure to report North Korea’s side of the argument, tacitly supporting Kim Jong Un’s need for security while questioning American intentions in the Asian region.

For instance, Xinhua reported in Oct. 2017 that “Kim justified the development of nuclear and missile programs by [North Korea] as the only way of defence against ‘protracted nuclear threats’ by the United States.”

As an op-ed from the English-language Chinese daily Global Times further argues that the United States uses North Korea “as a pretext to justify its military presence in Northeast Asia.”

When Chinese media does denounce aggressive North Korean military actions, such as intercontinental missile tests, the articles usually go on to portray the United States’ anti-ballistic missile systems and joint military exercises with Japan and South Korea as far more destabilising for the Asia region.

China opposes “any strategic military deployment by the US that will cause threats to China’s security under the excuse of dealing with the peninsula situation,” declared China’s Global Times in 2016.

Towing the line 
 
Still, China is careful to uphold international standards when it comes to North Korea.

It advocates for a cooperative and dialogue-based peace process and has endorsed and implemented all United Nations Security Council sanctions on North Korea.

After North Korea’s nuclear tests in fall 2017, for example, the UN&nbsp;unanimously adopted severe economic sanctions that further isolated the regime. China criticised US rhetoric about Kim’s regime as overheated but ultimately signed off on the sanctions.

In Chinese media, such actions – defending North Korean sovereignty while supporting the international community – confirm China’s role as a fair arbiter. China sees itself as perhaps the only nation appropriately balancing North Korea’s economic needs with the world’s security concerns.

For Chinese media, this confirms China’s importance in global diplomacy. When President Trump said that “China has aided efforts with North Korea,” his comment was widely quoted.

Will China help denuclearise North Korea?

Ultimately, our analysis finds that China’s global aspirations have not yet led President Xi to openly dispute American leadership in resolving world conflicts.

China is likely to play a supporting role in the gradual denuclearisation of North Korea, even as it seeks to shape that process to ensure that Chinese influence and prestige in the region is upheld.

Chinese media has even praised President Trump’s June 6 summit with Kim, saying it warmed relations between the nations and laid a foundation for further progress toward peace.

The Chinese government may well work “on both sides towards this goal,” as Foreign Ministry spokesperson Geng Shuang said in a December 2017 press conference.

But in the end, we believe Xi is more of a US partner than foe when it comes to Korea.

(Randy Kluver is Dean, Oklahoma State University; &nbsp;Robert Hinck is Assistant Professor, Monmouth College; &nbsp;Skye Cooley 
Assistant Professor of Communication, Oklahoma State University)

By Randy Kluver, Robert Hinck and Skye Cooley When North Korean leader Kim Jong Un in June pledged to work toward “complete denuclearisation of the Korean Peninsula” by 2020, the White House hailed the agreement as “a tremendous moment for the world.

By Randy Kluver, Robert Hinck and Skye Cooley When North Korean leader Kim Jong Un in June pledged to work toward “complete denuclearisation of the Korean Peninsula” by 2020, the White House hailed the agreement as “a tremendous moment for the world.” The agreement came after a year of tense negotiations between North Korean leader Kim Jong Un and US President Donald Trump – an undiplomatic diplomatic process that included insults, threats, name-calling and cancelled diplomatic visits. “I was really being tough. And so was he,” Trump later said. “And we’d go back and forth. And then we fell in love. OK?” With all the bilateral drama, it’s easy to forget that this nuclear showdown does not involve just the US and North Korea. The China-Korea connection The Korean peninsula has been in a protracted conflict since 1950, when Communist North Korean troops invaded South Korea. North Korea has been considered a dangerous nuclear power since withdrawing from the international nonproliferation treaty on nuclear weapons in 1985, with neighbouring Japan and South Korea most at risk of nuclear attack. Both are strong US allies who essentially support Trump’s negotiations with Kim’s regime. Less certain is the position of China, North Korea’s Communist northern neighbour. China accounts for 90 percent of North Korea’s foreign trade and is perhaps the only true “friend” North Korea has. It is also an economic behemoth with its own ambitions of global dominance. In recent years China has flexed its foreign policy muscles, paying for major infrastructure development in Africa, Pakistan and the Caribbean. Its diplomacy budget has almost doubled since Xi took office in 2013. Chinese Foreign Ministry Spokesperson Lu Kang has assured the United States that China supports “the US and [orth Korea in actively seeking a political settlement of the Korean Peninsula issue” and is “committed to achieving denuclearisation.” Korea experts have their doubts. Many believe China fears that a successful Trump negotiation could lead the US to replace China as North Korea’s top ally. Its government “does not want a reunified Korea, indebted to Washington, sitting just across its border,” Richard McGregor, senior fellow at Australia’s Lowy Institute, told CNN in May. So where does China’s government really stand on the US-led denuclearisation of North Korea? China defends North Korea To answer this question, we analyzed one year of Chinese news coverage and commentary on North Korean denuclearatisation. Because journalism in China is heavily state-controlled, media analysis can shed light on government positions that may not be public as official policy. Our project examining China’s view of the US-North Korea negotiations is part of ongoing research into the domestic media coverage of global affairs in Russia and China, two countries that contest America’s dominance in the current world order. We read China’s position on the Trump-Kim process as delicately balanced between defending its Korean ally while signaling its respect for the international community. Chinese media makes sure to report North Korea’s side of the argument, tacitly supporting Kim Jong Un’s need for security while questioning American intentions in the Asian region. For instance, Xinhua reported in Oct. 2017 that “Kim justified the development of nuclear and missile programs by [North Korea] as the only way of defence against ‘protracted nuclear threats’ by the United States.” As an op-ed from the English-language Chinese daily Global Times further argues that the United States uses North Korea “as a pretext to justify its military presence in Northeast Asia.” When Chinese media does denounce aggressive North Korean military actions, such as intercontinental missile tests, the articles usually go on to portray the United States’ anti-ballistic missile systems and joint military exercises with Japan and South Korea as far more destabilising for the Asia region. China opposes “any strategic military deployment by the US that will cause threats to China’s security under the excuse of dealing with the peninsula situation,” declared China’s Global Times in 2016. Towing the line Still, China is careful to uphold international standards when it comes to North Korea. It advocates for a cooperative and dialogue-based peace process and has endorsed and implemented all United Nations Security Council sanctions on North Korea. After North Korea’s nuclear tests in fall 2017, for example, the UN unanimously adopted severe economic sanctions that further isolated the regime. China criticised US rhetoric about Kim’s regime as overheated but ultimately signed off on the sanctions. In Chinese media, such actions – defending North Korean sovereignty while supporting the international community – confirm China’s role as a fair arbiter. China sees itself as perhaps the only nation appropriately balancing North Korea’s economic needs with the world’s security concerns. For Chinese media, this confirms China’s importance in global diplomacy. When President Trump said that “China has aided efforts with North Korea,” his comment was widely quoted. Will China help denuclearise North Korea? Ultimately, our analysis finds that China’s global aspirations have not yet led President Xi to openly dispute American leadership in resolving world conflicts. China is likely to play a supporting role in the gradual denuclearisation of North Korea, even as it seeks to shape that process to ensure that Chinese influence and prestige in the region is upheld. Chinese media has even praised President Trump’s June 6 summit with Kim, saying it warmed relations between the nations and laid a foundation for further progress toward peace. The Chinese government may well work “on both sides towards this goal,” as Foreign Ministry spokesperson Geng Shuang said in a December 2017 press conference. But in the end, we believe Xi is more of a US partner than foe when it comes to Korea. (Randy Kluver is Dean, Oklahoma State University; Robert Hinck is Assistant Professor, Monmouth College; Skye Cooley Assistant Professor of Communication, Oklahoma State University)

Will China help Trump denuclearise North Korea?

&nbsp;China will provide Pakistan with economic aid but more talks will take place to fix the details, a senior Chinese diplomat said, after new Pakistani Prime Minister Imran Khan met Chinese Premier Li Keqiang on Saturday.

Pakistan's foreign reserves have plunged 42 per cent since the start of the year and now stand at about $8 billion, or less than two months of import cover.

Last month, Pakistan received a US $6 billion rescue package from Saudi Arabia, but officials say it is not enough and the country still plans to seek a bailout from the International Monetary Fund (IMF) to avert a balance of payments crisis.

It would be Pakistan's 13th rescue package from the multilateral lender since the late 1980s.

Speaking to reporters in Beijing's Great Hall of the People following Khan's talks with Li, Chinese Vice Foreign Minister Kong Xuanyou said his country would help.

"During the visit the two sides have made it clear in principle that the Chinese government will provide necessary support and assistance to Pakistan in tiding over the current economic difficulties," Kong said.

"As for specific measures to be taken, the relevant authorities of the two sides will have detailed discussions," he added, without giving details.

Khan told Chinese President Xi Jinping the previous day that he had inherited "a very difficult economic situation" at home.

Though China is Pakistan's closest ally, Khan's newly elected government has sought to re-think the two countries' signature project, the $60 billion China-Pakistan Economic Corridor (CPEC), which Beijing touts as the flagship infrastructure programme in its vast Belt and Road Initiative.

Pakistan has looked to amend CPEC to put greater emphasis on projects that focus on social development, rather than purely on infrastructure.

Kong said there would be no change in the number of projects under CPEC.

"There is no change at all. If there were, it would only be to increase, not decrease" the number of projects, he added.

However the scope of the project would increase and will tilt in favour of people's livelihoods, Kong said, also without elaborating.

After visiting Beijing, Khan is set to be a key note speaker at a major import fair in Shanghai, an event that China hopes will show the world the country welcomes foreign companies and their products.

China will provide Pakistan with economic aid but more talks will take place to fix the details, a senior Chinese diplomat said, after new Pakistani Prime Minister Imran Khan met Chinese Premier Li Keqiang on Saturday.

China will provide Pakistan with economic aid but more talks will take place to fix the details, a senior Chinese diplomat said, after new Pakistani Prime Minister Imran Khan met Chinese Premier Li Keqiang on Saturday. Pakistan's foreign reserves have plunged 42 per cent since the start of the year and now stand at about $8 billion, or less than two months of import cover. Last month, Pakistan received a US $6 billion rescue package from Saudi Arabia, but officials say it is not enough and the country still plans to seek a bailout from the International Monetary Fund (IMF) to avert a balance of payments crisis. It would be Pakistan's 13th rescue package from the multilateral lender since the late 1980s. Speaking to reporters in Beijing's Great Hall of the People following Khan's talks with Li, Chinese Vice Foreign Minister Kong Xuanyou said his country would help. "During the visit the two sides have made it clear in principle that the Chinese government will provide necessary support and assistance to Pakistan in tiding over the current economic difficulties," Kong said. "As for specific measures to be taken, the relevant authorities of the two sides will have detailed discussions," he added, without giving details. Khan told Chinese President Xi Jinping the previous day that he had inherited "a very difficult economic situation" at home. Though China is Pakistan's closest ally, Khan's newly elected government has sought to re-think the two countries' signature project, the $60 billion China-Pakistan Economic Corridor (CPEC), which Beijing touts as the flagship infrastructure programme in its vast Belt and Road Initiative. Pakistan has looked to amend CPEC to put greater emphasis on projects that focus on social development, rather than purely on infrastructure. Kong said there would be no change in the number of projects under CPEC. "There is no change at all. If there were, it would only be to increase, not decrease" the number of projects, he added. However the scope of the project would increase and will tilt in favour of people's livelihoods, Kong said, also without elaborating. After visiting Beijing, Khan is set to be a key note speaker at a major import fair in Shanghai, an event that China hopes will show the world the country welcomes foreign companies and their products.

China says more talks needed on economic aid for Pakistan

From hugs to holiday home visits: PM Modi's personal touch to diplomacy

China and Japan on Friday pledged to forge closer ties as both countries stood together at a "historic turning point", signing a broad range of agreements including a $30 billion currency swap pact, amid rising trade tensions with Washington.

Japanese Prime Minister Shinzo Abe and Chinese Premier Li Keqiang also agreed the two countries would work together to achieve denuclearisation on the Korean Peninsula.

The pacts were reached on Abe's three-day visit to Beijing as the two neighbours looked to carve out new areas of cooperation and seek new ways to promote trust, which has been fragile at times since diplomatic relations resumed in 1972.

"From competition to co-existence, Japan and China bilateral relations have entered a new phase. Hand in hand with Premier Li, I would like to advance our ties forward," Abe said at a briefing.

Abe is expected to meet with President Xi Jinping later on Friday in the first full-scale Sino-Japanese summit since 2011.

Japanese firms including big auto companies like Toyota hope to see normalised ties with China so they can compete with US and European rivals, while Beijing expects Tokyo's endorsement of its ambitious Belt and Road programme, an initiative that Xi hopes will further boost trade and transport links with other countries.

Abe also said Tokyo was "determined" to normalise diplomatic relations with Pyongyang, but only if preconditions were met, including denuclearisation and the release of kidnapped Japanese citizens.

"Our two countries bear large responsibility in achieving peace and stability in this region," Abe said.

Efforts in advancing China-Japan ties should "persevere unremittingly to prevent the appearance of new twists and turns" so that previous efforts did not go to waste, said Li at a joint briefing with Abe on Friday.

"The Chinese side is willing to work with the Japanese side to return to a normal track, and maintain the stable, sustained and healthy development of bilateral relations," he said, adding that he had held candid discussions with Abe since his arrival on matters of mutual concerns.

They reached consensus, Li said, that safeguarding long-term healthy and stable China-Japan ties was in accordance with the interests of both countries and the region and the world.

The move to boost economic ties came as China and the United States slap tit-for-tat tariffs on each other in recent months. Japan is at risk as it exports to China manufacturing equipment and electronic parts, which are used to make finished goods for the United States and other markets.

Ahead of the briefing, China and Japan signed an agreement to prepare yearly plans for talks, dialogues and exchanges, as well as a pact to step up cooperation in innovation.

They also agreed to boost cooperation in the securities markets including the listing of exchange-trade funds (ETFs), and facilitate smoother customs clearance.

Both sides signed a currency swap agreement of up to 3.4 trillion yen ($30.29 billion), effective until 2021. They also inked a deal towards establishing a yuan clearing bank.

Li said both sides had agreed that as major countries, China and Japan should uphold free trade and accelerate talks on the Regional Comprehensive Economic Partnership (RCEP) and on a China-Japan-Korea trade zone.

RCEP is a free trade agreement proposed by China with Southeast Asia and various countries on the Pacific Rim including Japan.

China and Japan on Friday pledged to forge closer ties as both countries stood together at a "historic turning point", signing a broad range of agreements including a $30 billion currency swap pact, amid rising trade tensions with Washington.

China and Japan on Friday pledged to forge closer ties as both countries stood together at a "historic turning point", signing a broad range of agreements including a $30 billion currency swap pact, amid rising trade tensions with Washington. Japanese Prime Minister Shinzo Abe and Chinese Premier Li Keqiang also agreed the two countries would work together to achieve denuclearisation on the Korean Peninsula. The pacts were reached on Abe's three-day visit to Beijing as the two neighbours looked to carve out new areas of cooperation and seek new ways to promote trust, which has been fragile at times since diplomatic relations resumed in 1972. "From competition to co-existence, Japan and China bilateral relations have entered a new phase. Hand in hand with Premier Li, I would like to advance our ties forward," Abe said at a briefing. Abe is expected to meet with President Xi Jinping later on Friday in the first full-scale Sino-Japanese summit since 2011. Japanese firms including big auto companies like Toyota hope to see normalised ties with China so they can compete with US and European rivals, while Beijing expects Tokyo's endorsement of its ambitious Belt and Road programme, an initiative that Xi hopes will further boost trade and transport links with other countries. Abe also said Tokyo was "determined" to normalise diplomatic relations with Pyongyang, but only if preconditions were met, including denuclearisation and the release of kidnapped Japanese citizens. "Our two countries bear large responsibility in achieving peace and stability in this region," Abe said. Efforts in advancing China-Japan ties should "persevere unremittingly to prevent the appearance of new twists and turns" so that previous efforts did not go to waste, said Li at a joint briefing with Abe on Friday. "The Chinese side is willing to work with the Japanese side to return to a normal track, and maintain the stable, sustained and healthy development of bilateral relations," he said, adding that he had held candid discussions with Abe since his arrival on matters of mutual concerns. They reached consensus, Li said, that safeguarding long-term healthy and stable China-Japan ties was in accordance with the interests of both countries and the region and the world. The move to boost economic ties came as China and the United States slap tit-for-tat tariffs on each other in recent months. Japan is at risk as it exports to China manufacturing equipment and electronic parts, which are used to make finished goods for the United States and other markets. Ahead of the briefing, China and Japan signed an agreement to prepare yearly plans for talks, dialogues and exchanges, as well as a pact to step up cooperation in innovation. They also agreed to boost cooperation in the securities markets including the listing of exchange-trade funds (ETFs), and facilitate smoother customs clearance. Both sides signed a currency swap agreement of up to 3.4 trillion yen ($30.29 billion), effective until 2021. They also inked a deal towards establishing a yuan clearing bank. Li said both sides had agreed that as major countries, China and Japan should uphold free trade and accelerate talks on the Regional Comprehensive Economic Partnership (RCEP) and on a China-Japan-Korea trade zone. RCEP is a free trade agreement proposed by China with Southeast Asia and various countries on the Pacific Rim including Japan.

China, Japan to forge closer ties at 'historic turning point'

Chinese state media has praised the tone of the informal summit so far between Prime Minister Narendra Modi and Chinese President Xi Jingping.&nbsp;&nbsp;

The overseas edition of the ruling Communist Party's official People's Daily said in a front-page commentary on Saturday "two great countries ought to have great cooperation", and showed a large picture of the two leaders shaking hands.

"There is the reason to believe that this Wuhan meeting will increase mutual trust, manage and control disputes, deepen cooperation and lead to a new phase in China-India relations," it said.

"It is quite clear that strategic agreement between the two countries far exceeds the specific differences, and the need for cooperation far exceeds local friction," it said.

Modi will take an hour-long boat ride with his host Xi on Saturday, the final day of an ice-breaking trip both are hoping will lead to better ties after a year of strains.

Modi is spending only about 24 hours in the central Chinese city of Wuhan, just months after a dispute over a stretch of their high-altitude Himalayan border rekindled fears of war between the Asian nations.

Billed by both sides as an informal meeting rather than a summit, with none of the pomp and ceremony of a state visit such as 21-gun salutes, the two men held talks on Friday that lasted far longer than expected.

Modi will take a walk around a guesthouse with Xi on Saturday, then an hour-long boat trip on a lake followed by lunch, before the meeting ends, according to the Indian Foreign Ministry.

Both countries are expected to brief reporters at the end.&nbsp;

Despite the rhetoric, which on Friday included Modi inviting Xi to India for a similar informal summit next year, the nations' differences are significant.

As well as disputes over stretches of a 3,500 km (2,200 miles) border, they are bumping up against each other in the Indian Ocean and squabbling over Xi's signature Belt and Road infrastructure initiative.

India signalled as recently as Tuesday its opposition to the grand trade and transport plan because one of its branches runs through Pakistani-administered Kashmir, which India claims.

India has long been suspicious of China's traditionally close ties with Pakistan.

For its part, China has been concerned about U.S. efforts to draw India into a maritime "quad" of democracies, including Japan and Australia.

China is also suspicious of India's hosting of the Dalai Lama and other exiled Tibetans.

(With inputs from Reuters)&nbsp;

The overseas edition of the ruling Communist Party's official People's Daily said in a front page commentary on Saturday "two great countries ought to have great cooperation", and showed a large picture of the two leaders shaking hands.

Chinese state media has praised the tone of the informal summit so far between Prime Minister Narendra Modi and Chinese President Xi Jingping. The overseas edition of the ruling Communist Party's official People's Daily said in a front-page commentary on Saturday "two great countries ought to have great cooperation", and showed a large picture of the two leaders shaking hands. "There is the reason to believe that this Wuhan meeting will increase mutual trust, manage and control disputes, deepen cooperation and lead to a new phase in China-India relations," it said. "It is quite clear that strategic agreement between the two countries far exceeds the specific differences, and the need for cooperation far exceeds local friction," it said. Modi will take an hour-long boat ride with his host Xi on Saturday, the final day of an ice-breaking trip both are hoping will lead to better ties after a year of strains. Modi is spending only about 24 hours in the central Chinese city of Wuhan, just months after a dispute over a stretch of their high-altitude Himalayan border rekindled fears of war between the Asian nations. Billed by both sides as an informal meeting rather than a summit, with none of the pomp and ceremony of a state visit such as 21-gun salutes, the two men held talks on Friday that lasted far longer than expected. Modi will take a walk around a guesthouse with Xi on Saturday, then an hour-long boat trip on a lake followed by lunch, before the meeting ends, according to the Indian Foreign Ministry. Both countries are expected to brief reporters at the end. Despite the rhetoric, which on Friday included Modi inviting Xi to India for a similar informal summit next year, the nations' differences are significant. As well as disputes over stretches of a 3,500 km (2,200 miles) border, they are bumping up against each other in the Indian Ocean and squabbling over Xi's signature Belt and Road infrastructure initiative. India signalled as recently as Tuesday its opposition to the grand trade and transport plan because one of its branches runs through Pakistani-administered Kashmir, which India claims. India has long been suspicious of China's traditionally close ties with Pakistan. For its part, China has been concerned about U.S. efforts to draw India into a maritime "quad" of democracies, including Japan and Australia. China is also suspicious of India's hosting of the Dalai Lama and other exiled Tibetans. (With inputs from Reuters)

Chinese state media praises tone of informal summit between Modi and Xi

Prime Minister <a href="http://www.wionews.com/india-news/all-you-need-to-know-about-wuhan-the-venue-for-informal-modi-xi-meet-132911">Narendra Modi arrived at picturesque Wuhan city</a> in Central China, at 12:30 am on Friday, ahead of his much anticipated<a href="http://www.wionews.com/india-news/modi-xi-meet-at-wuhan-boat-ride-walk-in-the-park-amid-candid-dialogue-expected-133015"> informal meeting with Chinese President Xi Jinping</a>.

The meeting comes in the backdrop of the efforts made by both India and China to move past the tensions, which rose out of last year's 73-day Doklam standoff.

Prime Minister Modi will commence his meetings with Chinese President Xi at 3:30 pm on Friday at the Hubei Provincial Museum.

After touring the museum for about an hour, the two leaders, accompanied by six top officials from each side, will hold talks at the sprawling East Lake Guest House, where Xi is staying.This will be followed by the leaders' walk.

Dinner will be hosted by Chinese President Xi at the guest house in central Wuhan.

On Saturday, the two leaders will have opportunity to spend time without their aides as with Xi taking Modi for a lakeside walk and a boat ride on the picturesque East Lake.

This will be followed by a private lunch hosted by the Chinese President.

No joint statement or communique will be issued after PM Narendra Modi holds informal talks with Chinese President Xi Jinping.

According to the sources, the informal talks will be broad-based and overarching and no specific issues will be discussed.

The idea is to open strategic communication channel at the highest level.

The meeting comes in the backdrop of the efforts made by both India and China to move past the tensions, which rose out of last year's 73-day Doklam standoff

Prime Minister Narendra Modi arrived at picturesque Wuhan city in Central China, at 12:30 am on Friday, ahead of his much anticipated informal meeting with Chinese President Xi Jinping. The meeting comes in the backdrop of the efforts made by both India and China to move past the tensions, which rose out of last year's 73-day Doklam standoff. Prime Minister Modi will commence his meetings with Chinese President Xi at 3:30 pm on Friday at the Hubei Provincial Museum. After touring the museum for about an hour, the two leaders, accompanied by six top officials from each side, will hold talks at the sprawling East Lake Guest House, where Xi is staying.This will be followed by the leaders' walk. Dinner will be hosted by Chinese President Xi at the guest house in central Wuhan. On Saturday, the two leaders will have opportunity to spend time without their aides as with Xi taking Modi for a lakeside walk and a boat ride on the picturesque East Lake. This will be followed by a private lunch hosted by the Chinese President. No joint statement or communique will be issued after PM Narendra Modi holds informal talks with Chinese President Xi Jinping. According to the sources, the informal talks will be broad-based and overarching and no specific issues will be discussed. The idea is to open strategic communication channel at the highest level.

PM Modi-Xi informal summit: From walk to boat ride, what all to expect

Prime Minister Narendra Modi will leave for China on Thursday evening to attend an informal summit, to be hosted by Chinese President Xi Jinping in Wuhan city on April 27 and 28.

This informal discussion is going to take place for the first time after 1954.

Chinese Foreign Minister Wang Yi said on Sunday at the joint press conference with his Indian counterpart Sushma Swaraj in Beijing, "We will make sure that the informal summit (between PM Modi and Chinese President Jinping on April 27-28) will be a complete success and a milestone in China-India relations."

The informal summit is being seen as a move by the two countries to get their ties back on track following the Doklam stand-off last year, wherein troops from the two nations were engaged in an eyeball-to-eyeball standoff near Sikkim border between June to August.

The summit comes ahead of Shanghai Cooperation Organisation (SCO) summit in Qingdao city in June.

No agreements will be signed between India and China and no customary joint press conference will be held during Prime Minister Modi's two-day visit.&nbsp;

This informal discussion is going to take place for the first time after 1954

Prime Minister Narendra Modi will leave for China on Thursday evening to attend an informal summit, to be hosted by Chinese President Xi Jinping in Wuhan city on April 27 and 28. This informal discussion is going to take place for the first time after 1954. Chinese Foreign Minister Wang Yi said on Sunday at the joint press conference with his Indian counterpart Sushma Swaraj in Beijing, "We will make sure that the informal summit (between PM Modi and Chinese President Jinping on April 27-28) will be a complete success and a milestone in China-India relations." The informal summit is being seen as a move by the two countries to get their ties back on track following the Doklam stand-off last year, wherein troops from the two nations were engaged in an eyeball-to-eyeball standoff near Sikkim border between June to August. The summit comes ahead of Shanghai Cooperation Organisation (SCO) summit in Qingdao city in June. No agreements will be signed between India and China and no customary joint press conference will be held during Prime Minister Modi's two-day visit.

India-China informal summit: Modi to leave for Wuhan today

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PM Modi-Xi informal summit: From walk to boat ride, what all to expect

India-China informal summit: Modi to leave for Wuhan today