On Sunday, President Trump tweeted a surprising announcement that he would order tariffs be increased from 10% to %25 on $200 billion worth of Chinese goods. President Trump also threatened to impose 25% tariffs on all remaining Chinese imports (another $325 billion or so).

No end to US-China trade war

US raises tariffs on Chinese import for goods worth $200 Bn. Watch this video for complete details.

US raises tariffs on Chinese import for goods worth $200 Bn

What happens when the planet's <a href="https://www.wionews.com/world/chinas-top-trade-negotiator-to-visit-us-despite-tariffs-216689">two biggest economies</a> play a high-stakes game of chicken?

The world may be about to find out, with President Donald Trump and his Chinese counterpart Xi Jinping both holding favourable enough economic hands to make it hard to predict who blinks first, analysts said.

Hope for an imminent resolution of the China-US trade dispute dimmed after Trump vowed to further raise import tariffs this week to punish China for what he framed as bad-faith negotiating, rocking world markets.

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-fresh-tariffs-on-china-trump-spooks-global-markets-with-a-few-tweets-216519/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Here are some of the key questions regarding the impasse.

Why has Trump turned the screws now?That remains unclear but the president has been known to tout strong US economic data or Wall Street gains as evidence that he is "winning" the trade war and as leverage against China.

Recent developments will have given him ample reason to up the ante.

April data indicated vigorous American job growth, a fresh sign of US economic strength that has helped propel the S&amp;P 500 and Nasdaq stock indices to record highs this month. Last month figures showed the world's top economy grew at a faster pace than expected in the first quarter.

How will China react?Beijing's shrewd communist leaders have been negotiating favourable economic arrangements with the world for decades, and few observers would bet on them suddenly capitulating.

Whatever Xi does, he also has reason to hold firm.

The world's second-largest economy is decelerating from its era of hyper-growth, but it expanded by a better-than-forecast 6.4 per cent in January-March, a sign of stability despite the trade turbulence.

And Chinese stock markets -- among the world's worst in 2018 -- are up significantly this year after Beijing pulled an array of policy and monetary levers to keep the economy chugging.

"Both sides have reason to be confident and ask for more," said Bao Ting, a strategist with Great Wall Securities.

"It's not surprising for negotiations to go back and forth in the final stages" as the two sides drill down on nitty-gritty details, she added.

So whose hand is stronger?Probably Trump's, analysts say, because Xi faces a challenge maintaining the economic growth on which the government stakes its ruling legitimacy, while also implementing tricky reform of inefficient state industries.

Of particular concern is a fresh spike in debt this year as Chinese authorities have relied heavily on eased credit restrictions to juice the economy while they battle Trump's trade pressure.

The International Monetary Fund has previously called China's debt addiction "dangerous".&nbsp;

"This massive credit stimulus has stabilised China’s economy for now but the impact is unlikely to be long-lasting or without complication," said Brock Silvers, managing director of Kaiyuan Capital in Shanghai.

"China could soon regret a missed chance to end to what looks to be a worsening and increasingly risky trade war."

But China has for years used a flood of credit and targeted pump-priming to keep its economic miracle going, and today stands taller than ever.

"That gives China a lot of strength. They have many different ways of keeping things churning," said Christopher Balding, an expert on China's economy at Fulbright University in Ho Chi Minh City.

What if neither side blinks?Stocks fell worldwide after Trump's tariff threat, and an extension of the already lengthy trade standoff could spell more pain.

"If they fail to reach an agreement, China's economy would worsen and global economic growth would slow down," said Bao.

Much depends on whether China retaliates against Trump's move.

China is already wary over escalating the fight and seems unlikely to hit back with more tariffs at the moment and may favour yet more stimulus measures, said Tao Wang, head of China research for UBS.

But that could change. "Certainly the risk of an all-out US-China trade war has increased significantly," Tao said.

China said Tuesday its top negotiator, Vice Premier Liu He, would attend the talks in Washington this week, which Goldman Sachs said in a research note, "would indicate that they believe a deal is still reasonably likely".

Will China ever meet overall US demands?Key US demands include greater access to China's markets, broad reform of a business playing field that heavily favours Chinese firms, and a loosening of heavy state control by Beijing.

But those are the very policies that abetted China's stunning economic rise, and Beijing is unlikely to surrender them, said Balding.

"This is a fundamental clash of worldviews between a capitalist, open economy and a closed communist one," Balding said.

"There aren't a lot of ways to square that circle."

Asking for the moon may just be Trump's "Art of the Deal" approach to securing at least something that he can tout heading into elections next year.

What happens when the planet's two biggest economies play a high-stakes game of chicken? The world may be about to find out, with President Donald Trump and his Chinese counterpart Xi Jinping both holding favourable enough economic hands to make it hard to predict who blinks first, analysts said.

What happens when the planet's two biggest economies play a high-stakes game of chicken? The world may be about to find out, with President Donald Trump and his Chinese counterpart Xi Jinping both holding favourable enough economic hands to make it hard to predict who blinks first, analysts said. Hope for an imminent resolution of the China-US trade dispute dimmed after Trump vowed to further raise import tariffs this week to punish China for what he framed as bad-faith negotiating, rocking world markets. Here are some of the key questions regarding the impasse. Why has Trump turned the screws now?That remains unclear but the president has been known to tout strong US economic data or Wall Street gains as evidence that he is "winning" the trade war and as leverage against China. Recent developments will have given him ample reason to up the ante. April data indicated vigorous American job growth, a fresh sign of US economic strength that has helped propel the S&P 500 and Nasdaq stock indices to record highs this month. Last month figures showed the world's top economy grew at a faster pace than expected in the first quarter. How will China react?Beijing's shrewd communist leaders have been negotiating favourable economic arrangements with the world for decades, and few observers would bet on them suddenly capitulating. Whatever Xi does, he also has reason to hold firm. The world's second-largest economy is decelerating from its era of hyper-growth, but it expanded by a better-than-forecast 6.4 per cent in January-March, a sign of stability despite the trade turbulence. And Chinese stock markets -- among the world's worst in 2018 -- are up significantly this year after Beijing pulled an array of policy and monetary levers to keep the economy chugging. "Both sides have reason to be confident and ask for more," said Bao Ting, a strategist with Great Wall Securities. "It's not surprising for negotiations to go back and forth in the final stages" as the two sides drill down on nitty-gritty details, she added. So whose hand is stronger?Probably Trump's, analysts say, because Xi faces a challenge maintaining the economic growth on which the government stakes its ruling legitimacy, while also implementing tricky reform of inefficient state industries. Of particular concern is a fresh spike in debt this year as Chinese authorities have relied heavily on eased credit restrictions to juice the economy while they battle Trump's trade pressure. The International Monetary Fund has previously called China's debt addiction "dangerous". "This massive credit stimulus has stabilised China’s economy for now but the impact is unlikely to be long-lasting or without complication," said Brock Silvers, managing director of Kaiyuan Capital in Shanghai. "China could soon regret a missed chance to end to what looks to be a worsening and increasingly risky trade war." But China has for years used a flood of credit and targeted pump-priming to keep its economic miracle going, and today stands taller than ever. "That gives China a lot of strength. They have many different ways of keeping things churning," said Christopher Balding, an expert on China's economy at Fulbright University in Ho Chi Minh City. What if neither side blinks?Stocks fell worldwide after Trump's tariff threat, and an extension of the already lengthy trade standoff could spell more pain. "If they fail to reach an agreement, China's economy would worsen and global economic growth would slow down," said Bao. Much depends on whether China retaliates against Trump's move. China is already wary over escalating the fight and seems unlikely to hit back with more tariffs at the moment and may favour yet more stimulus measures, said Tao Wang, head of China research for UBS. But that could change. "Certainly the risk of an all-out US-China trade war has increased significantly," Tao said. China said Tuesday its top negotiator, Vice Premier Liu He, would attend the talks in Washington this week, which Goldman Sachs said in a research note, "would indicate that they believe a deal is still reasonably likely". Will China ever meet overall US demands?Key US demands include greater access to China's markets, broad reform of a business playing field that heavily favours Chinese firms, and a loosening of heavy state control by Beijing. But those are the very policies that abetted China's stunning economic rise, and Beijing is unlikely to surrender them, said Balding. "This is a fundamental clash of worldviews between a capitalist, open economy and a closed communist one," Balding said. "There aren't a lot of ways to square that circle." Asking for the moon may just be Trump's "Art of the Deal" approach to securing at least something that he can tout heading into elections next year.

Donald Trump, Xi Jinping and trade: A high-stakes game of chicken

China said Tuesday its top trade negotiator will visit the United States for talks with American counterparts this week even as Washington stepped up <a href="https://www.wionews.com/world/adding-tariffs-cant-resolve-any-problem-says-china-on-trade-conflict-with-us-216682">pressure with plans to hike tariffs</a> and complaints that Beijing was backtracking on its commitments.

The commerce ministry confirmed in a brief statement that Vice Premier Liu He, President Xi Jinping's trade pointman, would visit the US on Thursday and Friday.

The trip is taking place a day later than expected after President Donald Trump jolted global markets by announcing that tariffs on $200 billion in Chinese merchandise will more than double to 25 per cent on Friday.

"China always believes that mutual respect, equality and mutual benefit are the premise and the basis for reaching an agreement. Adding tariffs will not solve any problem," Chinese foreign ministry spokesman Geng Shuang said at a regular press briefing.

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Confirmation of Liu's travel plans lifted Asian stock markets as his presence could raise hopes that a deal is still possible.

The tariffs announcement tanked stock markets worldwide on Monday and worried US farmers and businesses who have been banking on a resolution to the year-long conflict that has engulfed $360 billion in two-way trade.

US officials had said the world's two largest economies were close to an agreement but Beijing reversed course in recent days.

"Over the course of the last week or so, we've seen an erosion in commitments by China, I would say retreating from commitments that have already been made in our judgement," US Trade Representative Robert Lighthizer was quoted as saying in media reports on Monday.

He said the tariffs would increase at 12:01 am on Friday.

Treasury Secretary Steven Mnuchin described the negotiations as 90 per cent complete but told reporters that in recent days the talks went "substantially backward", according to the media reports.

Complaining that talks were moving too slowly because China was trying to "renegotiate" the terms, Trump vowed Sunday to ratchet up existing tariffs this week and extend the 25 per cent punitive duties to the remaining $350 billion in Chinese goods imported into the country each year.

Speaking in Paris, International Monetary Fund chief Christine Lagarde said "tensions between the United States and China are the threat for the world economy", and recent "rumours and tweets" made an agreement between the countries less likely.

'Precarious' position

Comments from officials in recent weeks indicated the sides were making progress towards an agreement aimed at addressing longstanding concerns about the forced transfer or outright theft of American technology, as well as reducing the US trade deficit with China.

"It is normal for the two sides to have divergences. China does not evade problems and is sincere in continuing consultations," Geng said.

But William Reinsch, trade policy expert at the Center for Strategic and International Studies, said China will never meet all the US demands.

"At some point, the president is going to figure out that they're not going to give him everything he wants," he told AFP.

That will put Trump in "a precarious political position", whether "to accept an agreement that will be criticised as weak, or not to have an agreement and be criticised for failing".

"And I can imagine that he is unhappy about that."

Freya Beamish of Pantheon Macroeconomics warned that Trump's aggressive tactics could backfire.

"It is much harder for China's leaders to do that if it looks like they have signed with a gun to their heads."

Restrained growth

US manufacturers and farmers were becoming more optimistic amid signs of progress and comments from officials that the talks were entering their final phase, reinforced by reports Beijing was sending 100 officials to this week's negotiations.

Trump credits the tariffs with the strong first quarter growth but economists and businesses have complained that the trade conflict is, in fact, hurting the bottom line and the uncertainty is causing them to delay investment.

Jake Colvin of the National Foreign Trade Council, a pro-trade US business group, said the tariffs "come at the expense of American businesses and farmers and consumers as well".

And escalating the tariffs to the remaining Chinese goods, which would be expected to spark further retaliation from Beijing, would cut 0.3 percentage points off US growth, according to Oxford Economics.

China said Tuesday its top trade negotiator will visit the United States for talks with American counterparts this week even as Washington stepped up pressure with plans to hike tariffs and complaints that Beijing was backtracking on its commitments.

China said Tuesday its top trade negotiator will visit the United States for talks with American counterparts this week even as Washington stepped up pressure with plans to hike tariffs and complaints that Beijing was backtracking on its commitments. The commerce ministry confirmed in a brief statement that Vice Premier Liu He, President Xi Jinping's trade pointman, would visit the US on Thursday and Friday. The trip is taking place a day later than expected after President Donald Trump jolted global markets by announcing that tariffs on $200 billion in Chinese merchandise will more than double to 25 per cent on Friday. "China always believes that mutual respect, equality and mutual benefit are the premise and the basis for reaching an agreement. Adding tariffs will not solve any problem," Chinese foreign ministry spokesman Geng Shuang said at a regular press briefing. Confirmation of Liu's travel plans lifted Asian stock markets as his presence could raise hopes that a deal is still possible. The tariffs announcement tanked stock markets worldwide on Monday and worried US farmers and businesses who have been banking on a resolution to the year-long conflict that has engulfed $360 billion in two-way trade. US officials had said the world's two largest economies were close to an agreement but Beijing reversed course in recent days. "Over the course of the last week or so, we've seen an erosion in commitments by China, I would say retreating from commitments that have already been made in our judgement," US Trade Representative Robert Lighthizer was quoted as saying in media reports on Monday. He said the tariffs would increase at 12:01 am on Friday. Treasury Secretary Steven Mnuchin described the negotiations as 90 per cent complete but told reporters that in recent days the talks went "substantially backward", according to the media reports. Complaining that talks were moving too slowly because China was trying to "renegotiate" the terms, Trump vowed Sunday to ratchet up existing tariffs this week and extend the 25 per cent punitive duties to the remaining $350 billion in Chinese goods imported into the country each year. Speaking in Paris, International Monetary Fund chief Christine Lagarde said "tensions between the United States and China are the threat for the world economy", and recent "rumours and tweets" made an agreement between the countries less likely. 'Precarious' position Comments from officials in recent weeks indicated the sides were making progress towards an agreement aimed at addressing longstanding concerns about the forced transfer or outright theft of American technology, as well as reducing the US trade deficit with China. "It is normal for the two sides to have divergences. China does not evade problems and is sincere in continuing consultations," Geng said. But William Reinsch, trade policy expert at the Center for Strategic and International Studies, said China will never meet all the US demands. "At some point, the president is going to figure out that they're not going to give him everything he wants," he told AFP. That will put Trump in "a precarious political position", whether "to accept an agreement that will be criticised as weak, or not to have an agreement and be criticised for failing". "And I can imagine that he is unhappy about that." Freya Beamish of Pantheon Macroeconomics warned that Trump's aggressive tactics could backfire. "It is much harder for China's leaders to do that if it looks like they have signed with a gun to their heads." Restrained growth US manufacturers and farmers were becoming more optimistic amid signs of progress and comments from officials that the talks were entering their final phase, reinforced by reports Beijing was sending 100 officials to this week's negotiations. Trump credits the tariffs with the strong first quarter growth but economists and businesses have complained that the trade conflict is, in fact, hurting the bottom line and the uncertainty is causing them to delay investment. Jake Colvin of the National Foreign Trade Council, a pro-trade US business group, said the tariffs "come at the expense of American businesses and farmers and consumers as well". And escalating the tariffs to the remaining Chinese goods, which would be expected to spark further retaliation from Beijing, would cut 0.3 percentage points off US growth, according to Oxford Economics.

China's top trade negotiator to visit US despite tariffs

China is considering cancelling trade talks with the United States this week after <a href="https://www.wionews.com/world/trump-announces-higher-us-tariffs-on-china-goods-216186">US President Donald Trump vowed to hike tariffs</a> on China, the Wall Street Journal reported on Sunday citing a source.

Earlier on Sunday, Trump announced he would hike US tariffs on $200 billion worth of Chinese goods this week and target hundreds of billions more soon.

The decision on whether talks will be cancelled depends on whether Vice Premier Liu He goes to Washington as planned, the journal reported, citing a source, who added that cancelling talks would conform to China's strategy of not negotiating under threat.

Trump had previously delayed the tariff increases earlier in the year, citing productive talks with China.

Sunday's announcement casts into doubt previous expectations that China and the United States were closing in on a deal to end a months-long trade war that has slowed global growth and disrupted markets.

US-China trade talks are due to resume this week. The meeting follows talks in April in Beijing that Treasury Secretary Steven Mnuchin called "productive."

As recently as Friday, Trump said talks with China was going well.

Last week, industry sources said they believed the talks were in the endgame, and Mnuchin had said he hoped that the US&nbsp;negotiating team would soon be able to recommend a deal to Trump or tell him that one could not be reached.

The administration has been insisting on a mechanism to ensure that China follows through on any promises to purchase more American goods.&nbsp;

Administration officials have said both sides are expected to launch new enforcement staffs to police the agreement.

China is considering cancelling trade talks with the United States this week after US President Donald Trump vowed to hike tariffs on China, the Wall Street Journal reported on Sunday citing a source.

China is considering cancelling trade talks with the United States this week after US President Donald Trump vowed to hike tariffs on China, the Wall Street Journal reported on Sunday citing a source. Earlier on Sunday, Trump announced he would hike US tariffs on $200 billion worth of Chinese goods this week and target hundreds of billions more soon. The decision on whether talks will be cancelled depends on whether Vice Premier Liu He goes to Washington as planned, the journal reported, citing a source, who added that cancelling talks would conform to China's strategy of not negotiating under threat. Trump had previously delayed the tariff increases earlier in the year, citing productive talks with China. Sunday's announcement casts into doubt previous expectations that China and the United States were closing in on a deal to end a months-long trade war that has slowed global growth and disrupted markets. US-China trade talks are due to resume this week. The meeting follows talks in April in Beijing that Treasury Secretary Steven Mnuchin called "productive." As recently as Friday, Trump said talks with China was going well. Last week, industry sources said they believed the talks were in the endgame, and Mnuchin had said he hoped that the US negotiating team would soon be able to recommend a deal to Trump or tell him that one could not be reached. The administration has been insisting on a mechanism to ensure that China follows through on any promises to purchase more American goods. Administration officials have said both sides are expected to launch new enforcement staffs to police the agreement.

China considers cancelling trade talks with US after Trump vows new tariff hike: Report

Oil prices tumbled by more than 2 per cent on Monday after US President Donald Trump on Sunday said he would <a href="https://www.wionews.com/world/trump-announces-higher-us-tariffs-on-china-goods-216186">sharply hike tariffs on Chinese goods</a> this week, risking derailing months of trade talks between the world's two biggest economies.

US West Texas Intermediate (WTI) crude futures were at $60.44 per barrel at 0032 GMT on Monday, down $1.50 per barrel, or 2.4 per cent, from their last settlement.

Brent crude oil futures were at $69.34 per barrel, down $1.51 per barrel, or 2.1 per cent, from their last close.

Trump on Sunday said on Twitter he would drastically hike US tariffs on Chinese goods this week, pulling down global financial markets, including crude oil futures.

The Wall Street Journal reported that Beijing is considering cancelling all trade talks with Washington.

"Trump has taken the proverbial sledgehammer to the walnut this morning ... by threatening to slap a 25 per cent tariff on a mind-boggling $525 billion of Chinese goods by this Friday," said Jeffrey Halley, senior market analyst at futures brokerage OANDA in Singapore.

Within the oil industry, there are signs of a further rise in output from the United States, where crude production has already surged by more than 2 million barrels per day (bpd) since early 2018, to a record 12.3 million bpd. That has made the United States the world's biggest producer ahead of Russia and Saudi Arabia.

The number of rigs drilling for gas in the United States fell by 3 to 183 in the week to May 3, while oil-directed drilling rigs rose by 2 to 807, data from oil services firm Baker Hughes showed on Friday.

Oil prices tumbled by more than 2 per cent on Monday after US President Donald Trump on Sunday said he would sharply hike tariffs on Chinese goods this week, risking derailing months of trade talks between the world's two biggest economies.

Oil prices tumbled by more than 2 per cent on Monday after US President Donald Trump on Sunday said he would sharply hike tariffs on Chinese goods this week, risking derailing months of trade talks between the world's two biggest economies. US West Texas Intermediate (WTI) crude futures were at $60.44 per barrel at 0032 GMT on Monday, down $1.50 per barrel, or 2.4 per cent, from their last settlement. Brent crude oil futures were at $69.34 per barrel, down $1.51 per barrel, or 2.1 per cent, from their last close. Trump on Sunday said on Twitter he would drastically hike US tariffs on Chinese goods this week, pulling down global financial markets, including crude oil futures. The Wall Street Journal reported that Beijing is considering cancelling all trade talks with Washington. "Trump has taken the proverbial sledgehammer to the walnut this morning ... by threatening to slap a 25 per cent tariff on a mind-boggling $525 billion of Chinese goods by this Friday," said Jeffrey Halley, senior market analyst at futures brokerage OANDA in Singapore. Within the oil industry, there are signs of a further rise in output from the United States, where crude production has already surged by more than 2 million barrels per day (bpd) since early 2018, to a record 12.3 million bpd. That has made the United States the world's biggest producer ahead of Russia and Saudi Arabia. The number of rigs drilling for gas in the United States fell by 3 to 183 in the week to May 3, while oil-directed drilling rigs rose by 2 to 807, data from oil services firm Baker Hughes showed on Friday.

Oil prices tumble by more than 2% after Trump announces new tariffs on Chinese goods

President Donald Trump sent Asian markets plunging Monday after<a href="https://www.wionews.com/world/trump-announces-higher-us-tariffs-on-china-goods-216186"> threatening to hike tariffs on $200 billion of Chinese goods</a> at the end of the week in a bid to speed up stuttering trade talks between the economic superpowers.

Shanghai and Hong Kong equities led big losses across the region, with the Chinese yuan also taking a battering after the president threw a spanner into the high-level negotiations, which many observers were expecting to wrap up imminently.

"For 10 months, China has been paying Tariffs to the USA of 25% on 50 Billion Dollars of High Tech, and 10% on 200 Billion Dollars of other goods," Trump tweeted Sunday night. "The 10% will go up to 25% on Friday."

The warning will throw a shadow over the next round of talks, with a delegation from Beijing due in Washington this week, with Bloomberg News reporting the Chinese side are considering their position.

The two sides have imposed tariffs on $360 billion in two-way trade since last year. But Trump and his Chinese counterpart Xi Jinping agreed to a truce in December, helping fan a surge across world stock markets for the past four months.

"Trump has taken the proverbial sledgehammer to the walnut this morning and the only two words likely to be on the minds of traders and investors this week are 'trade talks'," said OANDA senior market analyst Jeffrey Halley.

In morning trade Hong Kong tumbled 3.6 per cent and Shanghai was off more than five per cent as investors there returned for the first time since Tuesday.

Singapore was off three per cent and Taipei shed 1.8 per cent, while Sydney and Wellington were each one per cent down.

Manila and Jakarta were also sharply lower. Tokyo and Seoul were closed for holidays.

Yuan tumbles

"It’s making the outcomes more binary, with everybody focused on the Friday deadline," said Joyce Chang, chair of global research at JPMorgan Chase &amp; Co.

"There doesn’t seem to be much leeway now to much go past that. It's going to mean that investors will be very focused on the trade issues even beyond China," she told Bloomberg TV.

The yuan also took hiding, shedding more than 1.3 per cent at one point against the dollar, its heaviest fall in more than three years. The currency had been sitting around 10-month highs on the back of optimism the two sides would sign off on a trade pact.

"Investors will remain bearish on the yuan, as they reprice in trade war risks because the new developments are a reversal of previous positive progress," Ken Cheung, senior foreign-exchange strategist at Mizuho Bank. "The news was unexpected."

The flight to safety saw the dollar surge against higher-yielding, higher-risk units, with South Africa's rand off one per cent, the Mexican peso 0.9 per cent lower and the Australian dollar 0.6 per cent lower.

On oil markets, both main contracts were hammered more than two per cent by worries that a trade war between the world's top two economies could hit demand for the commodity.

Adding to weakness in the sector is the US drive to increase output, which comes as it reports rising stockpiles, which are offsetting unrest in Libya, tensions with Iran and production caps by OPEC and Russia.

However, while trading floors are awash with red, Stephen Innes at SPI Asset Management remained positive.

"We do know the president tends to retreat from more aggressive displays, so I am viewing this thinly veiled threat as political posturing or a tactical decision to apply more pressure on China to put through a trade deal that aligns with the best USA economic interest at heart.

"Despite US-China trade talks hitting an apparent impasse based on (the) tweet, I think a deal will be signed shortly."

Trump's outburst overshadowed another blockbuster US jobs report Friday that reinforced the view that the economy is in rude health, while measured wage inflation eased pressure on the Federal Reserve to hike interest rates.

President Donald Trump sent Asian markets plunging Monday after threatening to hike tariffs on $200 billion of Chinese goods at the end of the week in a bid to speed up stuttering trade talks between the economic superpowers.

President Donald Trump sent Asian markets plunging Monday after threatening to hike tariffs on $200 billion of Chinese goods at the end of the week in a bid to speed up stuttering trade talks between the economic superpowers. Shanghai and Hong Kong equities led big losses across the region, with the Chinese yuan also taking a battering after the president threw a spanner into the high-level negotiations, which many observers were expecting to wrap up imminently. "For 10 months, China has been paying Tariffs to the USA of 25% on 50 Billion Dollars of High Tech, and 10% on 200 Billion Dollars of other goods," Trump tweeted Sunday night. "The 10% will go up to 25% on Friday." The warning will throw a shadow over the next round of talks, with a delegation from Beijing due in Washington this week, with Bloomberg News reporting the Chinese side are considering their position. The two sides have imposed tariffs on $360 billion in two-way trade since last year. But Trump and his Chinese counterpart Xi Jinping agreed to a truce in December, helping fan a surge across world stock markets for the past four months. "Trump has taken the proverbial sledgehammer to the walnut this morning and the only two words likely to be on the minds of traders and investors this week are 'trade talks'," said OANDA senior market analyst Jeffrey Halley. In morning trade Hong Kong tumbled 3.6 per cent and Shanghai was off more than five per cent as investors there returned for the first time since Tuesday. Singapore was off three per cent and Taipei shed 1.8 per cent, while Sydney and Wellington were each one per cent down. Manila and Jakarta were also sharply lower. Tokyo and Seoul were closed for holidays. Yuan tumbles "It’s making the outcomes more binary, with everybody focused on the Friday deadline," said Joyce Chang, chair of global research at JPMorgan Chase & Co. "There doesn’t seem to be much leeway now to much go past that. It's going to mean that investors will be very focused on the trade issues even beyond China," she told Bloomberg TV. The yuan also took hiding, shedding more than 1.3 per cent at one point against the dollar, its heaviest fall in more than three years. The currency had been sitting around 10-month highs on the back of optimism the two sides would sign off on a trade pact. "Investors will remain bearish on the yuan, as they reprice in trade war risks because the new developments are a reversal of previous positive progress," Ken Cheung, senior foreign-exchange strategist at Mizuho Bank. "The news was unexpected." The flight to safety saw the dollar surge against higher-yielding, higher-risk units, with South Africa's rand off one per cent, the Mexican peso 0.9 per cent lower and the Australian dollar 0.6 per cent lower. On oil markets, both main contracts were hammered more than two per cent by worries that a trade war between the world's top two economies could hit demand for the commodity. Adding to weakness in the sector is the US drive to increase output, which comes as it reports rising stockpiles, which are offsetting unrest in Libya, tensions with Iran and production caps by OPEC and Russia. However, while trading floors are awash with red, Stephen Innes at SPI Asset Management remained positive. "We do know the president tends to retreat from more aggressive displays, so I am viewing this thinly veiled threat as political posturing or a tactical decision to apply more pressure on China to put through a trade deal that aligns with the best USA economic interest at heart. "Despite US-China trade talks hitting an apparent impasse based on (the) tweet, I think a deal will be signed shortly." Trump's outburst overshadowed another blockbuster US jobs report Friday that reinforced the view that the economy is in rude health, while measured wage inflation eased pressure on the Federal Reserve to hike interest rates.

Asian markets plunge as Trump threatens to hike China tariffs

US and Chinese officials say a historic deal ending their ongoing trade war could be imminent, but a key question is how can Washington be sure Beijing will live up to its end of the bargain?

With up to 100 Chinese officials reportedly expected next week in Washington, with the possibility of unveiling a grand agreement after months of tensions, that question is hanging over the talks.

Beijing may make eye-popping offers to buy American energy and agriculture exports as a means of cutting the soaring US-China trade deficit ($378.7 billion in 2018, including services trade), but all eyes will be on whether the agreement has any teeth.

US Vice President Mike Pence said Friday the enforcement mechanism would be key to the decision on whether to remove the punishing US tariffs which now cover more than $250 billion in Chinese imports.

"The reason enforcement has become central to this negotiation is the long history of China not living up to the spirit of the commitments it has made in the WTO and in bilateral negotiations with the US and other countries," Edward Alden, a trade expert at the Council on Foreign Relations, told AFP.

US President Donald Trump has repeatedly accused China of stealing from the United States by buying less from America than it sells.

But Trump also has demanded structural changes to the Chinese economy, including an end to the forced transfer of American technology, theft of intellectual property and the massive role the Chinese government plays in markets and industry.

US Trade Representative Robert Lighthizer, who is leading the US delegation along with Treasury Secretary Steven Mnuchin, has insisted Washington will not accept empty promises and will demand verification Beijing is keeping its word.

Reaching trade agreements with China can be especially challenging, given that its regulations are not transparent, Alden said.

"China can change its laws in ways that please the United States, but then use regulatory tools to thwart implementation."

'That's the core'

To ensure strict compliance, US negotiators have proposed monthly, quarterly and semi-annual meetings, with the twice-yearly meetings to involving the most senior officials.

And should American businesses report violations of the agreement, Washington could begin a series of consultations with their Chinese counterparts, and then unilaterally impose new tariffs if no resolution is achieved, according to US media reports.

But China also would have recourse to the same tariff tool in case of a US violation.

"The enforcement mechanism is crucial to the agreement," Doug Barry, spokesman for the US-China Business Council, told AFP.

"Without a credible, time specific, verifiable means to hold parties accountable, we will miss an opportunity to put the trade relationship on a new and better footing."

Alden says the tool under discussion appears novel because bilateral free trade agreements typically resolve disputes through arbitration panels which oversee retaliatory tariffs, similar to the World Trade Organization dispute settlement process.

Businesses on both sides of the Pacific want the talks to wrap up as soon as possible to reduce uncertainty in international commerce at a time when the trade war has weighed on manufacturing sectors in both countries.

Among the top 15 US states exporting to China, many have been hit hard by China's retaliatory tariffs on soy, pork or in the aviation sector, including Alabama, Illinois and Washington State, according to the US-China Business Council.

Companies are calling for the tariffs imposed last year -- which cover more than $360 billion in two-way trade -- to be lifted.

But Washington hopes to retain the ability to resort to tariffs as a cudgel.

"We have to maintain the right to be able to -- whatever happens to the current tariffs -- to raise tariffs in situations where there are violations of the agreement," Lighthizer said in Senate testimony in March.

"That's the core. If we don't do that, then none of it makes any difference."

But, according to Alden, that could create "ongoing uncertainty" for businesses unaware of when either side could seek to impose unilateral tariffs.

US and Chinese officials say a historic deal ending their ongoing trade war could be imminent, but a key question is how can Washington be sure Beijing will live up to its end of the bargain?

US and Chinese officials say a historic deal ending their ongoing trade war could be imminent, but a key question is how can Washington be sure Beijing will live up to its end of the bargain? With up to 100 Chinese officials reportedly expected next week in Washington, with the possibility of unveiling a grand agreement after months of tensions, that question is hanging over the talks. Beijing may make eye-popping offers to buy American energy and agriculture exports as a means of cutting the soaring US-China trade deficit ($378.7 billion in 2018, including services trade), but all eyes will be on whether the agreement has any teeth. US Vice President Mike Pence said Friday the enforcement mechanism would be key to the decision on whether to remove the punishing US tariffs which now cover more than $250 billion in Chinese imports. "The reason enforcement has become central to this negotiation is the long history of China not living up to the spirit of the commitments it has made in the WTO and in bilateral negotiations with the US and other countries," Edward Alden, a trade expert at the Council on Foreign Relations, told AFP. US President Donald Trump has repeatedly accused China of stealing from the United States by buying less from America than it sells. But Trump also has demanded structural changes to the Chinese economy, including an end to the forced transfer of American technology, theft of intellectual property and the massive role the Chinese government plays in markets and industry. US Trade Representative Robert Lighthizer, who is leading the US delegation along with Treasury Secretary Steven Mnuchin, has insisted Washington will not accept empty promises and will demand verification Beijing is keeping its word. Reaching trade agreements with China can be especially challenging, given that its regulations are not transparent, Alden said. "China can change its laws in ways that please the United States, but then use regulatory tools to thwart implementation." 'That's the core' To ensure strict compliance, US negotiators have proposed monthly, quarterly and semi-annual meetings, with the twice-yearly meetings to involving the most senior officials. And should American businesses report violations of the agreement, Washington could begin a series of consultations with their Chinese counterparts, and then unilaterally impose new tariffs if no resolution is achieved, according to US media reports. But China also would have recourse to the same tariff tool in case of a US violation. "The enforcement mechanism is crucial to the agreement," Doug Barry, spokesman for the US-China Business Council, told AFP. "Without a credible, time specific, verifiable means to hold parties accountable, we will miss an opportunity to put the trade relationship on a new and better footing." Alden says the tool under discussion appears novel because bilateral free trade agreements typically resolve disputes through arbitration panels which oversee retaliatory tariffs, similar to the World Trade Organization dispute settlement process. Businesses on both sides of the Pacific want the talks to wrap up as soon as possible to reduce uncertainty in international commerce at a time when the trade war has weighed on manufacturing sectors in both countries. Among the top 15 US states exporting to China, many have been hit hard by China's retaliatory tariffs on soy, pork or in the aviation sector, including Alabama, Illinois and Washington State, according to the US-China Business Council. Companies are calling for the tariffs imposed last year -- which cover more than $360 billion in two-way trade -- to be lifted. But Washington hopes to retain the ability to resort to tariffs as a cudgel. "We have to maintain the right to be able to -- whatever happens to the current tariffs -- to raise tariffs in situations where there are violations of the agreement," Lighthizer said in Senate testimony in March. "That's the core. If we don't do that, then none of it makes any difference." But, according to Alden, that could create "ongoing uncertainty" for businesses unaware of when either side could seek to impose unilateral tariffs.

US-China trade dilemma: How to hold Beijing's feet to the fire

Second Belt & Road Summit gets underway in Beijing. The Second BRI summit is taking place with much less fanfare that the First BRI summit held in 2017. Watch more to know.

WION Gravitas: Xi Jinping inaugurates BRI's 2nd summit

China's President Xi Jinping on Friday called for a "fair and friendly" environment for Chinese companies and citizens overseas, as pushback against its tech giants rises and academics find their visas cancelled.

Beijing and Washington have been locked in a bruising trade war -- which negotiators have been working to resolve -- but there has also been a growing strategic rivalry between the world's two largest economies.&nbsp;

"China's measures to expand opening up are independent choices," Xi told a gathering of 37 world leaders at a summit for his signature Belt and Road Initiative.&nbsp;

"We also hope that all countries in the world will create a good investment environment, treat Chinese enterprises, international students and scholars equally, and provide a fair and friendly environment," he said.

An increasing number of Western countries have moved to block Huawei and its state-backed competitor ZTE from building next-generation 5G networks over fears Beijing could spy on communications and gain access to critical infrastructure.&nbsp;

The United States has also started to bar some Chinese academics from the country if they are suspected of having links to Chinese intelligence agencies, the New York Times reported.

It added that thirty Chinese scholars have had their visas cancelled or put under review in the past year.&nbsp;

In accounts published in the state-run Global Times, several Chinese academics said their 10-year visas to the US were cancelled, with officials citing concerns over their links to Chinese intelligence.&nbsp;

"Some Chinese were deliberately targeted when visiting the US and had their baggage searched, but cases of cancelling visas are not common," wrote Jin Canrong, dean of international studies at the elite Renmin University.

Such instances were rare even during the Cold War, he added.&nbsp;

Beijing has apparently hit back in retaliation: China expert Michael Pillsbury, who advises US President Donald Trump on China, said his visa to enter the country for a forum earlier this year was blocked.

Tensions flared between Washington and Beijing last December over the arrest of Huawei executive Meng Wanzhou, who is wanted in the US for violating Iranian sanctions.&nbsp;

She was arrested in Canada on request of the US and is now fighting extradition.

China's President Xi Jinping on Friday called for a "fair and friendly" environment for Chinese companies and citizens overseas, as pushback against its tech giants rises and academics find their visas cancelled.

China's President Xi Jinping on Friday called for a "fair and friendly" environment for Chinese companies and citizens overseas, as pushback against its tech giants rises and academics find their visas cancelled. Beijing and Washington have been locked in a bruising trade war -- which negotiators have been working to resolve -- but there has also been a growing strategic rivalry between the world's two largest economies. "China's measures to expand opening up are independent choices," Xi told a gathering of 37 world leaders at a summit for his signature Belt and Road Initiative. "We also hope that all countries in the world will create a good investment environment, treat Chinese enterprises, international students and scholars equally, and provide a fair and friendly environment," he said. An increasing number of Western countries have moved to block Huawei and its state-backed competitor ZTE from building next-generation 5G networks over fears Beijing could spy on communications and gain access to critical infrastructure. The United States has also started to bar some Chinese academics from the country if they are suspected of having links to Chinese intelligence agencies, the New York Times reported. It added that thirty Chinese scholars have had their visas cancelled or put under review in the past year. In accounts published in the state-run Global Times, several Chinese academics said their 10-year visas to the US were cancelled, with officials citing concerns over their links to Chinese intelligence. "Some Chinese were deliberately targeted when visiting the US and had their baggage searched, but cases of cancelling visas are not common," wrote Jin Canrong, dean of international studies at the elite Renmin University. Such instances were rare even during the Cold War, he added. Beijing has apparently hit back in retaliation: China expert Michael Pillsbury, who advises US President Donald Trump on China, said his visa to enter the country for a forum earlier this year was blocked. Tensions flared between Washington and Beijing last December over the arrest of Huawei executive Meng Wanzhou, who is wanted in the US for violating Iranian sanctions. She was arrested in Canada on request of the US and is now fighting extradition.

Xi Jinping asks for 'fair and friendly' treatment for Chinese companies and citizens overseas

<a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/china-president-xi-jinping-sends-congratulations-on-inauguration-of-belt-and-road-studies-network-213383&amp;sa=U&amp;ved=2ahUKEwic6o-Uv-_hAhXGfn0KHTi7C0sQFjAIegQIABAC&amp;usg=AOvVaw2uXy34qTnwoBtC52QSo4Dg">Chinese President Xi Jinping</a> urged dozens of world leaders on Saturday to reject protectionism and invited more countries to participate in his global infrastructure project after seeking to ease concerns surrounding the programme.

Addressing 37 leaders from Europe, Africa, Asia and Latin America, Xi made a new pitch for his cherished<a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/chinese-president-xi-defends-belt-and-road-says-not-exclusive-club-213575&amp;sa=U&amp;ved=2ahUKEwic6o-Uv-_hAhXGfn0KHTi7C0sQFjAJegQIAhAC&amp;usg=AOvVaw1XNKVrmHouJAvlZikr8Vv_"> Belt and Road Initiative (BRI) </a>as he kicked off the last day of a three-day forum.

The world's number two economy has been fighting a festering trade war with the United States for months, and Xi has long sought to take the mantle of the new world power open to multilateral cooperation and globalisation.

"We need to build an open world economy and reject protectionism," Xi told leaders including Russian President Vladimir Putin, Italian Prime Minister Giuseppe Conte and Pakistan's Imran Khan seated around a large round table at the idyllic Yanqi Lake retreat at the edge of Beijing.

A draft communique for the forum seen by AFP similarly pledges to "reject protectionism" and "unilateralism" in an oblique swipe at President Donald Trump's "America first" presidency. US officials were not sent to the summit.

Xi's signature foreign policy aims to reinvent the ancient Silk Road to connect Asia to Europe and Africa through massive investments in maritime, road and rail projects -- with hundreds of billions of dollars in financing from Chinese banks.

"We need to encourage the full participation of more countries and companies, thus expanding the pie of common interests," Xi said.&nbsp;

But critics say BRI is a plan to boost Beijing's global influence, riddled with opaque deals favouring Chinese companies and saddling nations with debt and environmental damage.

The United States, India and some European nations have looked at the project with suspicion.

Rising resistance&nbsp;

So far Chinese companies and workers have emerged as the primary beneficiaries as they are tapped to build the China-financed infrastructure in other developing countries.

BRI projects have faced pushback in some countries. In Malaysia, Prime Minister Mahathir Mohamad cancelled some planned works and renegotiated a rail project cutting 30 per cent off the price tag.

But Mohamad and other leaders attending the summit had fulsome praise for BRI.

The draft communique says BRI will welcome developed countries and international investors to participate in the projects.

Xi batted away some concerns at the opening ceremony Friday, saying the BRI will have "zero tolerance" for corruption while vowing to ensure the financial sustainability of projects and further open China's economy.

"Faced with this rising resistance for the past year and a half and this debt image ... China is trying to reposition (BRI) and send a reassuring message," said Nadege Rolland, a senior fellow at the National Bureau of Asian Research, a US-based think tank.

But "let's see how it is put into practice," she said.

China's finance ministry released guidelines Thursday for assessing financial risk and debt sustainability to apply to projects in BRI countries.

But the document notes that countries already facing payment problems or in the process of restructuring payments "does not automatically mean that debt is unsustainable in a forward-looking sense."

During a state banquet Friday night, Xi called on attending world leaders to band together in the face of setbacks.

"Certainly, while building the Belt and Road Initiative, we will face difficulties and there will be twists and turns," he said.

"No matter a smooth or challenging way, we need to continue the spirit of partnership, not forget our initial intention of cooperation and move forward unwaveringly," he said.

Chinese President Xi Jinping urged dozens of world leaders on Saturday to reject protectionism and invited more countries to participate in his global infrastructure project after seeking to ease concerns surrounding the programme.

Chinese President Xi Jinping urged dozens of world leaders on Saturday to reject protectionism and invited more countries to participate in his global infrastructure project after seeking to ease concerns surrounding the programme. Addressing 37 leaders from Europe, Africa, Asia and Latin America, Xi made a new pitch for his cherished Belt and Road Initiative (BRI) as he kicked off the last day of a three-day forum. The world's number two economy has been fighting a festering trade war with the United States for months, and Xi has long sought to take the mantle of the new world power open to multilateral cooperation and globalisation. "We need to build an open world economy and reject protectionism," Xi told leaders including Russian President Vladimir Putin, Italian Prime Minister Giuseppe Conte and Pakistan's Imran Khan seated around a large round table at the idyllic Yanqi Lake retreat at the edge of Beijing. A draft communique for the forum seen by AFP similarly pledges to "reject protectionism" and "unilateralism" in an oblique swipe at President Donald Trump's "America first" presidency. US officials were not sent to the summit. Xi's signature foreign policy aims to reinvent the ancient Silk Road to connect Asia to Europe and Africa through massive investments in maritime, road and rail projects -- with hundreds of billions of dollars in financing from Chinese banks. "We need to encourage the full participation of more countries and companies, thus expanding the pie of common interests," Xi said. But critics say BRI is a plan to boost Beijing's global influence, riddled with opaque deals favouring Chinese companies and saddling nations with debt and environmental damage. The United States, India and some European nations have looked at the project with suspicion. Rising resistance So far Chinese companies and workers have emerged as the primary beneficiaries as they are tapped to build the China-financed infrastructure in other developing countries. BRI projects have faced pushback in some countries. In Malaysia, Prime Minister Mahathir Mohamad cancelled some planned works and renegotiated a rail project cutting 30 per cent off the price tag. But Mohamad and other leaders attending the summit had fulsome praise for BRI. The draft communique says BRI will welcome developed countries and international investors to participate in the projects. Xi batted away some concerns at the opening ceremony Friday, saying the BRI will have "zero tolerance" for corruption while vowing to ensure the financial sustainability of projects and further open China's economy. "Faced with this rising resistance for the past year and a half and this debt image ... China is trying to reposition (BRI) and send a reassuring message," said Nadege Rolland, a senior fellow at the National Bureau of Asian Research, a US-based think tank. But "let's see how it is put into practice," she said. China's finance ministry released guidelines Thursday for assessing financial risk and debt sustainability to apply to projects in BRI countries. But the document notes that countries already facing payment problems or in the process of restructuring payments "does not automatically mean that debt is unsustainable in a forward-looking sense." During a state banquet Friday night, Xi called on attending world leaders to band together in the face of setbacks. "Certainly, while building the Belt and Road Initiative, we will face difficulties and there will be twists and turns," he said. "No matter a smooth or challenging way, we need to continue the spirit of partnership, not forget our initial intention of cooperation and move forward unwaveringly," he said.

China's Xi says to reject protectionism, open up Belt and Road

<a href="https://www.wionews.com/west-asia/vladimir-putin-says-russia-and-syria-are-not-planning-assault-on-idlib-for-now-213904">Russia and Syria are not planning assault on Idlib for now: Vladimir Putin</a>

Russian President Vladimir Putin said on Saturday he did not rule out Syrian forces, backed by Russian air power, launching a full-scale assault on militants in Syria's Idlib province, but that such an operation was unpractical for now.

<a href="https://www.wionews.com/world/xi-jinping-says-more-nations-joining-belt-and-road-64-billion-in-deals-signed-at-summit-213907">Xi Jinping says more nations joining Belt and Road, $64 billion in deals signed at summit</a>

Chinese President Xi Jinping said Saturday $64 billion in deals were signed at a summit on his Belt and Road Initiative and more nations would join the global infrastructure programme as he sought to ease concerns over the colossal project.

<a href="https://www.wionews.com/india-news/would-like-to-see-resolution-of-political-difficulties-between-india-and-pakistan-turkish-presidents-senior-advisor-to-wion-213921">Would like to see resolution of political difficulties between India and Pakistan: Turkish president's senior advisor to WION</a>

Senior advisor to Turkish President Recep Tayyip Erdogan was in New Delhi on Friday. In a conversation with WION, Ibrahim Kalin noted that terrorism is a global phenomenon, therefore merits a global response.&nbsp;

<a href="https://www.wionews.com/world/moscow-thinking-of-simplifying-nationality-process-for-all-ukraine-vladimir-putin-213888">Moscow 'thinking' of simplifying nationality process for all Ukraine: Vladimir Putin</a>

Russian President Vladimir Putin said Saturday Moscow was "thinking" of making it easier for all Ukrainians to obtain Russian citizenship after the Kremlin moved to grant passports in the country's separatist east, causing uproar in Kiev. &nbsp;

<a href="https://www.wionews.com/india-news/are-congress-leaders-capable-of-removing-terrorism-naxalism-from-country-pm-modi-213916">Is Congress capable of removing terrorism, Naxalism from country? PM Modi</a>

Prime Minister Narendra Modi on Saturday slammed the Congress party, questioning if the party and its leaders are capable of removing terrorism and Naxalism from the country.&nbsp;

&nbsp;

Russia and Syria are not planning assault on Idlib for now: Vladimir Putin Russian President Vladimir Putin said on Saturday he did not rule out Syrian forces, backed by Russian air power, launching a full-scale assault on militants in Syria's Idlib province, but that such an operation was unpractical for now.

Russia and Syria are not planning assault on Idlib for now: Vladimir Putin Russian President Vladimir Putin said on Saturday he did not rule out Syrian forces, backed by Russian air power, launching a full-scale assault on militants in Syria's Idlib province, but that such an operation was unpractical for now. Xi Jinping says more nations joining Belt and Road, $64 billion in deals signed at summit Chinese President Xi Jinping said Saturday $64 billion in deals were signed at a summit on his Belt and Road Initiative and more nations would join the global infrastructure programme as he sought to ease concerns over the colossal project. Would like to see resolution of political difficulties between India and Pakistan: Turkish president's senior advisor to WION Senior advisor to Turkish President Recep Tayyip Erdogan was in New Delhi on Friday. In a conversation with WION, Ibrahim Kalin noted that terrorism is a global phenomenon, therefore merits a global response. Moscow 'thinking' of simplifying nationality process for all Ukraine: Vladimir Putin Russian President Vladimir Putin said Saturday Moscow was "thinking" of making it easier for all Ukrainians to obtain Russian citizenship after the Kremlin moved to grant passports in the country's separatist east, causing uproar in Kiev. Is Congress capable of removing terrorism, Naxalism from country? PM Modi Prime Minister Narendra Modi on Saturday slammed the Congress party, questioning if the party and its leaders are capable of removing terrorism and Naxalism from the country.

News brief: Big stories of the day

Chinese President Xi Jinping said Saturday $64 billion in deals were signed at a summit on his Belt and Road Initiative and more nations would join the global infrastructure programme as he sought to ease concerns over the colossal project.

Xi and 37 world leaders wrapped up a three-day forum in Beijing with pledges to ensure that projects in his new Silk Road are financially sustainable and green following concerns about debt and environmental damage.

"We are committed to supporting to open, clean and green development and rejecting protectionism," Xi told journalists at the end of the forum, without taking questions.

His signature foreign policy aims to reinvent the ancient Silk Road to connect Asia to Europe and Africa through massive investments in maritime, road and rail projects -- with hundreds of billions of dollars in financing from Chinese banks.

But critics say BRI is a plan to boost Beijing's global influence, riddled with opaque deals favouring Chinese companies and saddling nations with debt and environmental damage.

The US, India and some European nations have looked at the project with suspicion. Washington did not send any representatives to the meeting.

"This year's forum sends a clear message: more and more friends and partners will join in the Belt and Road co-operation," Xi said.

Xi said enterprises will be the main driver in all Belt and Road projects and market principles will apply, with governments providing a supporting role.&nbsp;

"This will make the projects more sustainable and create a fair and non-discriminatory environment for foreign investors," Xi said.

Xi said that business leaders meeting at a side event signed some $64 billion worth of deals during the forum, without providing details.

Leaders from Europe, Africa, Asia and Latin America meeting at the picturesque Yanqi Lake outside Beijing agreed in a joint communique that enterprises will act as main players in Belt and Road projects.

The gathering included Russian President Vladimir Putin, Italian Prime Minister Giuseppe Conte, whose nation became the first G7 member to join Belt and Road, and Pakistan's Imran Khan.

Project 'sustainability

The massive projects, financed mainly through Chinese bank loans and investments, have raised concerns that poorer countries are being saddled with debt -- Sri Lanka turned over a deep-sea port to China for 99 years after it was unable to repay loans.

So far Chinese companies and workers have emerged as the primary beneficiaries as they are tapped to build the China-financed infrastructure in other developing countries.

A communique released at the end of the meeting said leaders encouraged multilateral development banks and other international financial institutions to support projects "in fiscally sustainable ways" and mobilise private capital in line with local needs.

"We emphasise the importance of economic, social, fiscal, financial and environmental sustainability of projects," it said.&nbsp;

The draft communique says BRI will welcome developed countries and international investors to participate in the projects.

'Civilised and soft'

China's finance ministry released guidelines Thursday for assessing financial risk and debt sustainability to apply to projects in BRI countries.

But the document notes that countries already facing payment problems or in the process of restructuring payments "does not automatically mean that debt is unsustainable in a forward-looking sense".

"Faced with this rising resistance for the past year and a half and this debt image ... China is trying to reposition (BRI) and send a reassuring message," said Nadege Rolland, a senior fellow at the National Bureau of Asian Research, a US-based think tank.

But "let's see how it is put into practice", she said.

Russian President Vladimir Putin praised China for acting in a "civilised and soft manner" and he took a veiled swipe at the United States.

"Nobody wants sanctions, nobody wants trade wars, except those who start them. These sanctions harm the world economy," Putin said, adding that China "currently defends liberal values".

BRI projects have faced pushback in some countries. In Malaysia, Prime Minister Mahathir Mohamad cancelled some planned works and renegotiated a rail project cutting 30 percent off the price tag.

But Mahathir and other leaders attending the summit had fulsome praise for BRI.

Chinese President Xi Jinping said Saturday $64 billion in deals were signed at a summit on his Belt and Road Initiative and more nations would join the global infrastructure programme as he sought to ease concerns over the colossal project.

Chinese President Xi Jinping said Saturday $64 billion in deals were signed at a summit on his Belt and Road Initiative and more nations would join the global infrastructure programme as he sought to ease concerns over the colossal project. Xi and 37 world leaders wrapped up a three-day forum in Beijing with pledges to ensure that projects in his new Silk Road are financially sustainable and green following concerns about debt and environmental damage. "We are committed to supporting to open, clean and green development and rejecting protectionism," Xi told journalists at the end of the forum, without taking questions. His signature foreign policy aims to reinvent the ancient Silk Road to connect Asia to Europe and Africa through massive investments in maritime, road and rail projects -- with hundreds of billions of dollars in financing from Chinese banks. But critics say BRI is a plan to boost Beijing's global influence, riddled with opaque deals favouring Chinese companies and saddling nations with debt and environmental damage. The US, India and some European nations have looked at the project with suspicion. Washington did not send any representatives to the meeting. "This year's forum sends a clear message: more and more friends and partners will join in the Belt and Road co-operation," Xi said. Xi said enterprises will be the main driver in all Belt and Road projects and market principles will apply, with governments providing a supporting role. "This will make the projects more sustainable and create a fair and non-discriminatory environment for foreign investors," Xi said. Xi said that business leaders meeting at a side event signed some $64 billion worth of deals during the forum, without providing details. Leaders from Europe, Africa, Asia and Latin America meeting at the picturesque Yanqi Lake outside Beijing agreed in a joint communique that enterprises will act as main players in Belt and Road projects. The gathering included Russian President Vladimir Putin, Italian Prime Minister Giuseppe Conte, whose nation became the first G7 member to join Belt and Road, and Pakistan's Imran Khan. Project 'sustainability The massive projects, financed mainly through Chinese bank loans and investments, have raised concerns that poorer countries are being saddled with debt -- Sri Lanka turned over a deep-sea port to China for 99 years after it was unable to repay loans. So far Chinese companies and workers have emerged as the primary beneficiaries as they are tapped to build the China-financed infrastructure in other developing countries. A communique released at the end of the meeting said leaders encouraged multilateral development banks and other international financial institutions to support projects "in fiscally sustainable ways" and mobilise private capital in line with local needs. "We emphasise the importance of economic, social, fiscal, financial and environmental sustainability of projects," it said. The draft communique says BRI will welcome developed countries and international investors to participate in the projects. 'Civilised and soft' China's finance ministry released guidelines Thursday for assessing financial risk and debt sustainability to apply to projects in BRI countries. But the document notes that countries already facing payment problems or in the process of restructuring payments "does not automatically mean that debt is unsustainable in a forward-looking sense". "Faced with this rising resistance for the past year and a half and this debt image ... China is trying to reposition (BRI) and send a reassuring message," said Nadege Rolland, a senior fellow at the National Bureau of Asian Research, a US-based think tank. But "let's see how it is put into practice", she said. Russian President Vladimir Putin praised China for acting in a "civilised and soft manner" and he took a veiled swipe at the United States. "Nobody wants sanctions, nobody wants trade wars, except those who start them. These sanctions harm the world economy," Putin said, adding that China "currently defends liberal values". BRI projects have faced pushback in some countries. In Malaysia, Prime Minister Mahathir Mohamad cancelled some planned works and renegotiated a rail project cutting 30 percent off the price tag. But Mahathir and other leaders attending the summit had fulsome praise for BRI.

Xi Jinping says more nations joining Belt and Road, $64 billion in deals signed at summit

<a href="https://www.wionews.com/world/trump-rejects-un-arms-trade-treaty-says-revoking-predecessors-signature-213808">US President Donald Trump</a>'s proposals on nuclear arms disarmament is "not serious," a Kremlin spokesman said on Saturday.

Trump has ordered his administration to prepare a push for new arms-control agreements with Russia and China citing the cost of the 21st-century nuclear arms race, The Washington Post reported on Thursday citing administration officials.

"It would be ideal to clean up the whole world from the nuclear weapon...but on the other hand we would have been deprived of the deterrent factor," Dmitry Peskov told reporters on the sidelines of a summit on China's Belt and Road plan. "Don't forget about the deterrent factor, about the deterrent parity," he said.

Peskov also said Russian President Vladimir Putin and Chinese President Xi Jinping held substantial talks and exchanged views on Syria, Venezuela and Libya when they met on Friday. 
&nbsp;

US President Donald Trump's proposals on nuclear arms disarmament is "not serious," a Kremlin spokesman said on Saturday. Trump has ordered his administration to prepare a push for new arms-control agreements with Russia and China citing the cost of the 21st-century nuclear arms race, The Washington Post reported on Thursday citing administration officials.

US President Donald Trump's proposals on nuclear arms disarmament is "not serious," a Kremlin spokesman said on Saturday. Trump has ordered his administration to prepare a push for new arms-control agreements with Russia and China citing the cost of the 21st-century nuclear arms race, The Washington Post reported on Thursday citing administration officials. "It would be ideal to clean up the whole world from the nuclear weapon...but on the other hand we would have been deprived of the deterrent factor," Dmitry Peskov told reporters on the sidelines of a summit on China's Belt and Road plan. "Don't forget about the deterrent factor, about the deterrent parity," he said. Peskov also said Russian President Vladimir Putin and Chinese President Xi Jinping held substantial talks and exchanged views on Syria, Venezuela and Libya when they met on Friday.

Trump proposals on nuclear arms disarmament 'not serious': Russia

<a href="https://www.wionews.com/world/chinese-president-xi-defends-belt-and-road-says-not-exclusive-club-213575">Chinese President Xi defends Belt and Road, says 'not exclusive club'</a>

Chinese President Xi Jinping sought Friday to ease growing concerns about his ambitious Belt and Road Initiative, vowing to prevent debt risks and saying his global infrastructure project "is not an exclusive club".

<a href="https://www.wionews.com/world/macrons-main-measures-in-response-to-yellow-vest-protests-213552">French President Macron outlines response including tax cuts to months of 'yellow vest' protests</a>

At the first major news conference on domestic policy of his presidency, Emmanuel Macron pledged to cut taxes on Thursday and said the French would have to work longer as he outlined his response to months of anti-government protests that have shaken his authority.

<a href="https://www.wionews.com/world/egypt-referendum-firms-up-sisi-rule-as-regional-unrest-flares-213558">Egypt referendum firms up Sisi rule as regional unrest flares&nbsp;</a>

As mass protests rock other Arab countries, a snap referendum in Egypt has gone against the grain and cemented President Abdel Fattah al-Sisi's rule for years to come.

<a href="https://www.wionews.com/world/cyclone-kenneth-hits-mozambique-after-lashing-comoros-213569">Cyclone Kenneth hits Mozambique after lashing Comoros</a>

Cyclone Kenneth battered northern Mozambique on Thursday with gusts of up to 280 km per hour (174 miles per hour) after killing three people on the island nation of Comoros overnight.

<a href="https://www.wionews.com/india-news/lok-sabha-polls-2019-pm-modi-to-file-his-nomination-from-varanasi-parliamentary-seat-today-213557">Lok Sabha polls 2019: PM Modi to file nomination from Varanasi today</a>

Prime Minister Narendra Modi will file his nomination for Varanasi Lok Sabha constituency in Varanasi on Friday.

All senior leaders of the BJP, NDA and North East Democratic Alliance are expected to be present in the city to mark the occasion. For today, the Prime Minister is expected to begin his schedule with prayers at the iconic Kashi Vishwanath Temple.

Chinese President Xi defends Belt and Road, says 'not exclusive club' Chinese President Xi Jinping sought Friday to ease growing concerns about his ambitious Belt and Road Initiative, vowing to prevent debt risks and saying his global infrastructure project "is not an exclusive club".

Chinese President Xi defends Belt and Road, says 'not exclusive club' Chinese President Xi Jinping sought Friday to ease growing concerns about his ambitious Belt and Road Initiative, vowing to prevent debt risks and saying his global infrastructure project "is not an exclusive club". French President Macron outlines response including tax cuts to months of 'yellow vest' protests At the first major news conference on domestic policy of his presidency, Emmanuel Macron pledged to cut taxes on Thursday and said the French would have to work longer as he outlined his response to months of anti-government protests that have shaken his authority. Egypt referendum firms up Sisi rule as regional unrest flares As mass protests rock other Arab countries, a snap referendum in Egypt has gone against the grain and cemented President Abdel Fattah al-Sisi's rule for years to come. Cyclone Kenneth hits Mozambique after lashing Comoros Cyclone Kenneth battered northern Mozambique on Thursday with gusts of up to 280 km per hour (174 miles per hour) after killing three people on the island nation of Comoros overnight. Lok Sabha polls 2019: PM Modi to file nomination from Varanasi today Prime Minister Narendra Modi will file his nomination for Varanasi Lok Sabha constituency in Varanasi on Friday. All senior leaders of the BJP, NDA and North East Democratic Alliance are expected to be present in the city to mark the occasion. For today, the Prime Minister is expected to begin his schedule with prayers at the iconic Kashi Vishwanath Temple.

Chinese President Xi Jinping sought Friday to ease growing concerns about his ambitious Belt and Road Initiative, vowing to prevent debt risks and saying his global infrastructure project "is not an exclusive club".

Xi made his remarks at a summit on his signature foreign policy, which aims to reinvent the ancient Silk Road to connect Asia to Europe and Africa through massive investments in maritime, road and rail projects.

The initiative offers to bring much-needed modern infrastructure to developing countries, but critics say it mainly favours Chinese companies while saddling nations with debt and causing environmental damage.

China has rejected accusations that Belt and Road is a "debt trap" and a geopolitical tool for Beijing's ambitions of becoming a global superpower.

"The Belt and Road is not an exclusive club," Xi said at the gathering of 37 world leaders.

In a nod to the concerns over loans, Xi said: "we also need to ensure the commercial and fiscal sustainability of all projects so that they will achieve the intended goals as planned."

Finance Minister Liu Kun said Thursday that China would present the forum a debt sustainability framework to "prevent debt risks" -- a move welcomed by International Monetary Fund chief Christine Lagarde.

The opacity of deals between Chinese companies and local governments has also raised alarm.

"Everything should be done in a transparent way and we should have zero tolerance for corruption," Xi said.

China will also promote "green" development, he said, amid warnings that some of the massive projects are causing environmental damage in Asia.

Debt troubles

Leaders from 37 countries have come to Beijing for the three-day forum, with officials from scores of other nations in attendance.&nbsp;

Russian President Vladimir Putin, Pakistani Prime Minister Imran Khan and Italian Prime Minister Giuseppe Conte, whose country became the first G7 member to sign up to Belt and Road, are among the headliners.

But EU powers Germany and France are sending ministers instead.&nbsp; 
The United States, which sent a senior White House official to the first BRI summit in 2017, has not dispatched any officials from Washington.

Amid tensions over trade and other diplomatic spats, Washington has dismissed BRI as a "vanity project" and rebuked Rome for signing up to the scheme.

Since Xi launched Belt and Road in 2013, China has invested $90 billion in projects while banks have provided upwards of $300 billion in loans, according to Chinese officials.

But examples of debt trouble abound.

Sri Lanka turned over a deep-sea port to China for 99 years after it was unable to repay loans. Pakistan needs an international bailout.

And Montenegro has had to make difficult choices after taking on crushing Chinese debt to pay a Chinese company to build a new highway.

Pushing back has proved a successful election issue in Asia, including in Sri Lanka, the Maldives and Malaysia, as the trademark infrastructure push is used to whip up fears about eroding sovereignty.

The new Malaysian prime minister cancelled some planned works and renegotiated a rail project cutting 30 per cent off the price tag.&nbsp; 
&nbsp;

Chinese President Xi Jinping sought Friday to ease growing concerns about his ambitious Belt and Road Initiative, vowing to prevent debt risks and saying his global infrastructure project "is not an exclusive club".

Chinese President Xi Jinping sought Friday to ease growing concerns about his ambitious Belt and Road Initiative, vowing to prevent debt risks and saying his global infrastructure project "is not an exclusive club". Xi made his remarks at a summit on his signature foreign policy, which aims to reinvent the ancient Silk Road to connect Asia to Europe and Africa through massive investments in maritime, road and rail projects. The initiative offers to bring much-needed modern infrastructure to developing countries, but critics say it mainly favours Chinese companies while saddling nations with debt and causing environmental damage. China has rejected accusations that Belt and Road is a "debt trap" and a geopolitical tool for Beijing's ambitions of becoming a global superpower. "The Belt and Road is not an exclusive club," Xi said at the gathering of 37 world leaders. In a nod to the concerns over loans, Xi said: "we also need to ensure the commercial and fiscal sustainability of all projects so that they will achieve the intended goals as planned." Finance Minister Liu Kun said Thursday that China would present the forum a debt sustainability framework to "prevent debt risks" -- a move welcomed by International Monetary Fund chief Christine Lagarde. The opacity of deals between Chinese companies and local governments has also raised alarm. "Everything should be done in a transparent way and we should have zero tolerance for corruption," Xi said. China will also promote "green" development, he said, amid warnings that some of the massive projects are causing environmental damage in Asia. Debt troubles Leaders from 37 countries have come to Beijing for the three-day forum, with officials from scores of other nations in attendance. Russian President Vladimir Putin, Pakistani Prime Minister Imran Khan and Italian Prime Minister Giuseppe Conte, whose country became the first G7 member to sign up to Belt and Road, are among the headliners. But EU powers Germany and France are sending ministers instead. The United States, which sent a senior White House official to the first BRI summit in 2017, has not dispatched any officials from Washington. Amid tensions over trade and other diplomatic spats, Washington has dismissed BRI as a "vanity project" and rebuked Rome for signing up to the scheme. Since Xi launched Belt and Road in 2013, China has invested $90 billion in projects while banks have provided upwards of $300 billion in loans, according to Chinese officials. But examples of debt trouble abound. Sri Lanka turned over a deep-sea port to China for 99 years after it was unable to repay loans. Pakistan needs an international bailout. And Montenegro has had to make difficult choices after taking on crushing Chinese debt to pay a Chinese company to build a new highway. Pushing back has proved a successful election issue in Asia, including in Sri Lanka, the Maldives and Malaysia, as the trademark infrastructure push is used to whip up fears about eroding sovereignty. The new Malaysian prime minister cancelled some planned works and renegotiated a rail project cutting 30 per cent off the price tag.

Chinese President Xi defends Belt and Road, says 'not exclusive club'

<a href="https://www.wionews.com/south-asia/pakistan-pm-imran-khan-in-iran-to-talk-security-ties-212398">Pakistan Prime Minister Imran Khan</a> reached Beijing on Thursday on&nbsp;his four-day tour to China.

Prior his departure Imran Khan said that China is Pakistan's closest friend and he looks forward to meeting China President Xi Jinping and Premier Li.

This is Khan’s second visit to China since coming to power in August 2018. His first visit had come in November last year.

Khan is&nbsp;due to deliver a keynote speech at the opening ceremony of the second Belt and Road Forum on Friday, according to&nbsp;media reports. He will also attend a ''Leader's Roundtable'' with representatives from 38 countries.

Pakistan and China are set to sign several Memoranda of Understanding (MoUs).

Khan will also take part in the Beijing International Horticultural Exhibition alongside other world leaders.

Pakistan prime minsiter recently visited Iran to discuss security and regional issues, after Islamabad urged Tehran to act against militants behind killings in Pakistan's Baluchistan province.

Pakistan Prime Minister Imran Khan reached Beijing on Thursday on his four-day tour to China. Prior his departure Imran Khan said that China is Pakistan's closest friend and he looks forward to meeting China President Xi Jinping and Premier Li.

Pakistan Prime Minister Imran Khan reached Beijing on Thursday on his four-day tour to China. Prior his departure Imran Khan said that China is Pakistan's closest friend and he looks forward to meeting China President Xi Jinping and Premier Li. This is Khan’s second visit to China since coming to power in August 2018. His first visit had come in November last year. Khan is due to deliver a keynote speech at the opening ceremony of the second Belt and Road Forum on Friday, according to media reports. He will also attend a ''Leader's Roundtable'' with representatives from 38 countries. Pakistan and China are set to sign several Memoranda of Understanding (MoUs). Khan will also take part in the Beijing International Horticultural Exhibition alongside other world leaders. Pakistan prime minsiter recently visited Iran to discuss security and regional issues, after Islamabad urged Tehran to act against militants behind killings in Pakistan's Baluchistan province.

Pakistan PM Imran Khan arrives in China on four-day visit

China aims to make the Belt and Road initiative sustainable and prevent debt risks, its finance minister said on Thursday, seeking to allay criticism that the infrastructure plan to boost trade and investment creates a heavy burden for some nations.

The policy championed by Chinese President Xi Jinping has become mired in controversy, with some partner nations bemoaning the high cost of projects, though China has repeatedly said it is not seeking to trap anyone with debt.

Western governments have tended to view it as a means to spread Chinese influence abroad, saddling poor countries with unsustainable debt.

Finance minister Liu Kun, speaking at a forum to kick off a three-day Belt and Road summit in Beijing, said China will establish an analysis framework on debt sustainability for Belt and Road projects to "prevent and resolve debt risks".

Chinese financial institutions, countries involved in Belt and Road and international agencies are encouraged to use this framework to enhance debt management, Liu said.

While most of the Belt and Road projects are continuing as planned, some have been caught up by changes in government in countries such as Malaysia and the Maldives.

Those that have been shelved for financial reasons include a power plant in Pakistan and an airport in Sierra Leone, and Beijing has in recent months had to rebuff critics by saying that not one country has been burdened with so-called "debt traps".

Yi Gang, China's central bank governor, said at the same event that local currencies will be used for investments related to the Belt and Road plan to curb exchange rate risks.

China will follow market principles and rely on commercial funds for Belt and Road financing, Yi said, adding that China will improve transparency for those projects.

"We should strengthen debt and risk management. We should objectively and fully understand debt problems of developing countries," he added.

"Investment decisions should...effectively control risks and fully consider a country's overall debt capacity and ensure debt is sustainable."

In a nod to debt concerns, a draft communique seen by Reuters said that 37 world leaders attending the summit will agree to project financing that respects global debt goals and promotes green growth.

Visiting leaders will be headlined by Russia's Vladimir Putin, as well as Prime Minister Imran Khan of Pakistan, a close China ally and among the biggest recipients of Belt and Road investment, and Prime Minister Giuseppe Conte of Italy, which recently became the first G7 country to sign on to the initiative.

The United States, which has not joined the Belt and Road, is expected to send only a lower-level delegation, and nobody from Washington. 
&nbsp;

China aims to make the Belt and Road initiative sustainable and prevent debt risks, its finance minister said on Thursday, seeking to allay criticism that the infrastructure plan to boost trade and investment creates a heavy burden for some nations.

China aims to make the Belt and Road initiative sustainable and prevent debt risks, its finance minister said on Thursday, seeking to allay criticism that the infrastructure plan to boost trade and investment creates a heavy burden for some nations. The policy championed by Chinese President Xi Jinping has become mired in controversy, with some partner nations bemoaning the high cost of projects, though China has repeatedly said it is not seeking to trap anyone with debt. Western governments have tended to view it as a means to spread Chinese influence abroad, saddling poor countries with unsustainable debt. Finance minister Liu Kun, speaking at a forum to kick off a three-day Belt and Road summit in Beijing, said China will establish an analysis framework on debt sustainability for Belt and Road projects to "prevent and resolve debt risks". Chinese financial institutions, countries involved in Belt and Road and international agencies are encouraged to use this framework to enhance debt management, Liu said. While most of the Belt and Road projects are continuing as planned, some have been caught up by changes in government in countries such as Malaysia and the Maldives. Those that have been shelved for financial reasons include a power plant in Pakistan and an airport in Sierra Leone, and Beijing has in recent months had to rebuff critics by saying that not one country has been burdened with so-called "debt traps". Yi Gang, China's central bank governor, said at the same event that local currencies will be used for investments related to the Belt and Road plan to curb exchange rate risks. China will follow market principles and rely on commercial funds for Belt and Road financing, Yi said, adding that China will improve transparency for those projects. "We should strengthen debt and risk management. We should objectively and fully understand debt problems of developing countries," he added. "Investment decisions should...effectively control risks and fully consider a country's overall debt capacity and ensure debt is sustainable." In a nod to debt concerns, a draft communique seen by Reuters said that 37 world leaders attending the summit will agree to project financing that respects global debt goals and promotes green growth. Visiting leaders will be headlined by Russia's Vladimir Putin, as well as Prime Minister Imran Khan of Pakistan, a close China ally and among the biggest recipients of Belt and Road investment, and Prime Minister Giuseppe Conte of Italy, which recently became the first G7 country to sign on to the initiative. The United States, which has not joined the Belt and Road, is expected to send only a lower-level delegation, and nobody from Washington.

China seeks to allay Belt and Road debt concerns

Here's a look at how world leaders use tools of Communication

IEW: World leaders and Political communication

How China is replacing America as Asia's military titan

China celebrated the 70th anniversary of its navy on Tuesday by showing off its growing fleet in a sea parade featuring a brand new guided-missile destroyer.

Under grey, foggy skies, Chinese President Xi Jinping stood on a warship to take the salute from 32 Chinese vessels, including submarines, and 39 planes off the eastern city of Qingdao.&nbsp;

<a href="https://www.wionews.com/photos/indian-australian-warships-arrive-in-china-for-naval-parade-212329">In pics: Indian, Australian warships arrive in China for naval parade</a>

China also took the occasion to unveil the Nanchang, a 10,000-ton class guided-missile destroyer.

Ships from 13 other countries including Russia, Thailand, Vietnam and India also took part in the parade.

Vietnam and other countries in the region frequently complain about China's activities in the disputed South China Sea, where Beijing has built artificial islands and military installations.

Xi told foreign delegations attending the naval event that China would "unswervingly stay on the path of peaceful development," according to the official Xinhua news agency.

All countries should promote "proper" solutions to maritime disputes, Xi said.

Absent from the celebrations was the United States Navy, which had said it would not participate.&nbsp;

During similar celebrations a decade ago, the US sent missile destroyer the USS Fitzgerald, which joined an international fleet review.

China is racing to modernise its People's Liberation Army, with Xi calling for the country to have a "world-class" military by mid-century.

Its sole operational aircraft carrier, the Liaoning, is a repurposed Soviet ship bought from Ukraine which went into service in 2012.&nbsp;

Another domestically-made carrier is still undergoing sea tests to add more firepower to the naval fleet.

China celebrated the 70th anniversary of its navy on Tuesday by showing off its growing fleet in a sea parade featuring a brand new guided-missile destroyer. Under grey, foggy skies, Chinese President Xi Jinping stood on a warship to take the salute from 32 Chinese vessels, including submarines, and 39 planes off the eastern city of Qingdao.

China celebrated the 70th anniversary of its navy on Tuesday by showing off its growing fleet in a sea parade featuring a brand new guided-missile destroyer. Under grey, foggy skies, Chinese President Xi Jinping stood on a warship to take the salute from 32 Chinese vessels, including submarines, and 39 planes off the eastern city of Qingdao. In pics: Indian, Australian warships arrive in China for naval parade China also took the occasion to unveil the Nanchang, a 10,000-ton class guided-missile destroyer. Ships from 13 other countries including Russia, Thailand, Vietnam and India also took part in the parade. Vietnam and other countries in the region frequently complain about China's activities in the disputed South China Sea, where Beijing has built artificial islands and military installations. Xi told foreign delegations attending the naval event that China would "unswervingly stay on the path of peaceful development," according to the official Xinhua news agency. All countries should promote "proper" solutions to maritime disputes, Xi said. Absent from the celebrations was the United States Navy, which had said it would not participate. During similar celebrations a decade ago, the US sent missile destroyer the USS Fitzgerald, which joined an international fleet review. China is racing to modernise its People's Liberation Army, with Xi calling for the country to have a "world-class" military by mid-century. Its sole operational aircraft carrier, the Liaoning, is a repurposed Soviet ship bought from Ukraine which went into service in 2012. Another domestically-made carrier is still undergoing sea tests to add more firepower to the naval fleet.

Chinese navy shows off new warship in 70th anniversary parade

Chinese President Xi Jinping, also Chairman of Central Military Commission, onboard the destroyer Xining gave an order to commence the naval parade on the sea off east China's Qingdao City at about 2:30 p.m. Tuesday. A total of 32 vessels of the People's Liberation Army Navy sailed in six groups, and 39 warplanes of the Navy flew in ten echelons.

Xi reviews Chinese vessels in naval parade

Kim Jong Un and President Vladimir Putin <a href="https://www.wionews.com/world/north-korea-confirms-kim-jong-uns-visit-to-russia-to-meet-putin-212783">will meet in Russia's Far East</a> on Thursday, the Kremlin said, as the North Korean leader looks to rebuild ties with an old ally amid a standoff with the United States.

Kremlin foreign policy aide Yuri Ushakov said the meeting -- the first between the two men -- would take place in the Pacific coast city of Vladivostok, before Putin heads to Beijing for another summit.

"The focus will be on a political and diplomatic solution to the nuclear problem on the Korean Peninsula," Ushakov told a briefing on Tuesday.

"Russia intends to help consolidate positive trends in every way," he said.&nbsp;

Anticipation for the summit had been building since the Kremlin announced last week the two men would meet by the end of April.&nbsp;

Russian and North Korean flags were already flying on lamp posts Tuesday on Vladivostok's Russky island, where the summit is expected to take place.&nbsp;

The talks follow repeated invitations from Putin since Kim last year embarked on a series of diplomatic overtures.&nbsp;

Since March 2018 the formerly reclusive North Korean leader has held four meetings with Chinese President Xi Jinping, three with the South's Moon Jae-in, two with US President Donald Trump and one with Vietnam's president.&nbsp;

Analysts say he is now looking for wider international support in his standoff with Washington.

At Kim's last summit with Trump in Hanoi in February, Pyongyang demanded immediate relief from sanctions imposed over its nuclear weapons and ballistic missile programmes.&nbsp;

But the talks broke down over what North Korea was prepared to give up in return.&nbsp;

Last week Pyongyang launched a blistering attack on US Secretary of State Mike Pompeo, demanding he be removed from the negotiations just hours after announcing it had carried out a new weapons test.

Moscow has called for the sanctions to be eased, while the US has accused it of trying to help Pyongyang evade some of the measures -- accusations Russia denies.

The summit will be the first between the two neighbours since Kim's father Kim Jong Il met Dmitry Medvedev in Russia eight years ago.

Ties between Pyongyang and Moscow, once its most important ally, go back decades.&nbsp;

The Soviet Union installed Kim's grandfather Kim Il Sung as North Korea's leader and was a crucial backer and main aid provider to Pyongyang during the Cold War.&nbsp;

The USSR started to reduce funding to the North as it began to seek reconciliation with Seoul in the 1980s, and Pyongyang was hit hard by the demise of the Soviet Union.

China has since stepped in to become the isolated North's most important ally, its largest trading partner and crucial fuel supplier.

Analysts say that by reaching out to Russia Kim could be looking to balance Beijing's influence, while Putin is keen to project Russian influence in another global flashpoint.

Kim Jong Un and President Vladimir Putin will meet in Russia's Far East on Thursday, the Kremlin said, as the North Korean leader looks to rebuild ties with an old ally amid a standoff with the United States.

Kim Jong Un and President Vladimir Putin will meet in Russia's Far East on Thursday, the Kremlin said, as the North Korean leader looks to rebuild ties with an old ally amid a standoff with the United States. Kremlin foreign policy aide Yuri Ushakov said the meeting -- the first between the two men -- would take place in the Pacific coast city of Vladivostok, before Putin heads to Beijing for another summit. "The focus will be on a political and diplomatic solution to the nuclear problem on the Korean Peninsula," Ushakov told a briefing on Tuesday. "Russia intends to help consolidate positive trends in every way," he said. Anticipation for the summit had been building since the Kremlin announced last week the two men would meet by the end of April. Russian and North Korean flags were already flying on lamp posts Tuesday on Vladivostok's Russky island, where the summit is expected to take place. The talks follow repeated invitations from Putin since Kim last year embarked on a series of diplomatic overtures. Since March 2018 the formerly reclusive North Korean leader has held four meetings with Chinese President Xi Jinping, three with the South's Moon Jae-in, two with US President Donald Trump and one with Vietnam's president. Analysts say he is now looking for wider international support in his standoff with Washington. At Kim's last summit with Trump in Hanoi in February, Pyongyang demanded immediate relief from sanctions imposed over its nuclear weapons and ballistic missile programmes. But the talks broke down over what North Korea was prepared to give up in return. Last week Pyongyang launched a blistering attack on US Secretary of State Mike Pompeo, demanding he be removed from the negotiations just hours after announcing it had carried out a new weapons test. Moscow has called for the sanctions to be eased, while the US has accused it of trying to help Pyongyang evade some of the measures -- accusations Russia denies. The summit will be the first between the two neighbours since Kim's father Kim Jong Il met Dmitry Medvedev in Russia eight years ago. Ties between Pyongyang and Moscow, once its most important ally, go back decades. The Soviet Union installed Kim's grandfather Kim Il Sung as North Korea's leader and was a crucial backer and main aid provider to Pyongyang during the Cold War. The USSR started to reduce funding to the North as it began to seek reconciliation with Seoul in the 1980s, and Pyongyang was hit hard by the demise of the Soviet Union. China has since stepped in to become the isolated North's most important ally, its largest trading partner and crucial fuel supplier. Analysts say that by reaching out to Russia Kim could be looking to balance Beijing's influence, while Putin is keen to project Russian influence in another global flashpoint.

North Korea's Kim will meet Vladimir Putin on Thursday in Russia's Far East, confirms Russia

China showed off the first of its new generation of guided missile destroyers on Tuesday as President Xi Jinping reviewed a major naval parade through mist and rain to mark 70 years since the founding of China’s navy.

China celebrates its 70th naval day, shows off new destroyer

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How China is replacing America as Asia's military titan

Chinese navy shows off new warship in 70th anniversary parade

Xi reviews Chinese vessels in naval parade

North Korea's Kim will meet Vladimir Putin on Thursday in Russia's Far East, confirms Russia

China celebrates its 70th naval day, shows off new destroyer