Joe Biden to ‘cooperate with China’ and offer ‘more stable approach’ to Trump trade war | World | News

President Trump has long accused China of unfair trading practices and the theft of intellectual property, while in China, the view exists of the US seeing the country as a threat and so, tries to curb its rise as an economic global superpower. Negotiations are ongoing but have proven very difficult between President Trump and General Secretary of the Chinese Communist Party, Xi Jinping. Mr Trump’s tariffs policy is aimed at encouraging American consumers to buy home-grown goods by making imported items from China much more expensive. President Trump has…

China slaps Australia with eye-watering 200% tax on wine exports as trade war erupts | World | News

Beijing has slapped a 200 percent tax on Australian wine as tensions rise between the two nations. Australia has drawn the wrath of Beijing by calling for an international investigation into China’s handling of the coronavirus outbreak in Wuhan. A strain in relations has also been amplified by China detaining Australian journalist Cheng Lei without charge. Canberra has also attacked China’s expansionist ambitions in the South China Sea that has seen Australia sign a mutual defence agreement with Japan, a traditional rival to Beijing. All of the contentions between both…

China news: Xi Jinping takes brutal swipe at Donald Trump and backs free trade | World | News

The president made the comment during a virtual meeting of the Asia-Pacific Economic Cooperation (Apec) forum, which has 21 member states from around the Pacific rim including the US and China. Mr Trump has heavily promoted protectionist policies as President slapping substantial new tariffs onto Chinese goods. Relations between Washington and Beijing have collapsed under his leadership with the two clashing over trade, coronavirus, human rights abuses, Hong Kong and the sovereignty of the South China Sea. Speaking to the forum Mr Jinping called for “openness” on trade and insisted there…

Navigating Asia’s trade tangle and a NSW “step-up”

Finding RCEP India might have spurned the Regional Comprehensive Economic Partnership, but its parable of the blind men and the elephant still provides the best way of understanding reaction to the region’s newest trade deal. Is it a child’s paddling pool the width of an ocean (Financial Times’ Alan Beattie), giving boosterism a bad name (The Australian’s Greg Sheridan) and thin from an Australian perspective (former trade negotiator Alan Oxley), to take a random selection of comments from obvious sceptics? Or will it promote the further integration of the member…

China, Southeast Asia Met on Trade, Ignored Maritime Dispute

Trade and the disease COVID-19 were major issues for China and 10 Southeast Asian countries when they met this month. Yet they largely ignored an issue of regional concern: the question of competing territorial claims in the South China Sea. Experts believe their failure to deal with the territorial dispute could be a sign of difficult times for the competing claimants in the weeks to come. China and several members of the Association of Southeast Asian Nations (ASEAN) disagree on who controls about 90 percent of the sea. They said…

Asia forms world’s biggest trade bloc, a China-backed group excluding U.S

By Khanh Vu, Phuong Nguyen HANOI (Reuters) – Fifteen Asia-Pacific economies formed the world’s largest free trade bloc on Sunday, a China-backed deal that excludes the United States, which had left a rival Asia-Pacific grouping under President Donald Trump. Vietnam’s Prime Minister Nguyen Xuan Phuc chairs the 4th Regional Comprehensive Economic Partnership Summit as part of the 37th ASEAN Summit in Hanoi, Vietnam November 15, 2020. REUTERS/Kham The signing of the Regional Comprehensive Economic Partnership (RCEP) at a regional summit in Hanoi, is a further blow to the group pushed…

Asia to form world’s biggest trade bloc, a China-backed group excluding U.S.

HANOI, Nov 15 (Reuters) – Fifteen Asia-Pacific economies were set to form the world’s largest free trade bloc on Sunday, a China-backed deal that excludes the United States, which had left a rival Asia-Pacific grouping under President Donald Trump. The signing of the Regional Comprehensive Economic Partnership (RCEP) at a regional summit in Hanoi, will be a further blow to the group pushed by former U.S. president Barack Obama, which his successor Trump exited in 2017. Amid questions over Washington’s engagement in Asia, RCEP may cement China’s position more firmly…

China, Cambodia to sign free trade agreement, inject impetus to economic recovery

A vendor carries fruit for sale in Phnom Penh, capital of Cambodia. Coronavirus-ravaged economies across the Asia Pacific region are expected to contract in 2020 for the first time in nearly six decades, throwing millions of people into poverty, the Asian Development Bank said. Photo: AFP  Chinese State Councilor and Foreign Minister Wang Yi arrived in Cambodia on Sunday for a two-day official visit, during which the two countries are set to sign a landmark China-Cambodia free trade agreement (FTA) among other important bilateral documents. The FTA is hailed by…

UN warns against ‘Cold War’ as US, China trade barbs

UNITED NATIONS – US President Donald Trump cast blame on China over the coronavirus pandemic in an address on Tuesday before the United Nations (UN), whose chief warned against a new ”Cold War” between the two powers. At a General Assembly held almost entirely virtually due to COVID-19, Trump delivered a speech in election campaign mode, while Chinese President Xi Jinping instead unveiled ambitious new targets to fight climate change. As the US death toll from COVID-19 reached the grim milestone of 200,000, the highest in the world, Trump attacked…