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Chinese president Xi: We should defeat various domestic, foreign risks and challenges

Comments by Chinese president Xi Jinping

  • Says to step up technology innovation, expand industrial chain
  • Says to push forward with quality manufacturing in the country
  • Says to speed up development of core technologies with own intellectual property
Yup, sure looks like China will be keeping to itself now and the language here certainly is a subtle message to the US in the trade dispute we’re currently seeing.
“You sayin’ I stole some intellectual property, man?”

NY Times reports “Trump Administration Could Blacklist Chinese Surveillance Technology Firm”

If so it’ll inflame trade tneions once again.

Says the NYT, citing unnamed ‘people familiar with the matter’:
  • Trump administration considering limits to a Chinese video surveillance giant’s ability to buy American technology
  • would effectively place the company, Hikvision, on a United States blacklist
  • would mark the first time the Trump administration punished a Chinese company for its role in the surveillance and mass detention of Uighurs, a mostly Muslim ethnic minority.
You’ll have noticed yen crosses on the slide just a wee bit in past minutes/halfhour or so. Could be related?

China’s foreign minister calls for US restraint on trade

China’s senior diplomat Wang Yi told U.S. Secretary of State Mike Pompeo on Saturday that recent U.S. words and actions had harmed the interests of China and its enterprises, and that Washington should show restraint, China’s foreign ministry said.

Speaking to Pompeo by telephone, Wang said the United States should not go “too far” in the current trade dispute between the two sides, adding that China was still willing to resolve differences through negotiations, but they should be on an equal footing.

On Iran, Wang said China hoped all parties will exercise restraint and act with caution to avoid escalating tensions.

U.S. State Department spokeswoman Morgan Ortagus said in a statement that Pompeo spoke with Wang and discussed bilateral issues and U.S. concerns about Iran, but gave no other details.

Tensions between Washington and Tehran have increased in recent days, raising concerns about a potential U.S.-Iran conflict. Earlier this week the United States pulled some diplomatic staff from its Baghdad embassy following attacks on oil tankers in the Gulf.

China struck a more aggressive tone in its trade war with the United States on Friday, suggesting a resumption of talks between the world’s two largest economies would be meaningless unless Washington changed course. (more…)

North Korea says US seizure of its vessels violates deal from last year’s summit

Geopolitical tensions involving the US are just about everywhere

NK USA

North Korea’s foreign ministry is out with a statement condemning the US seizure of its vessels, calling it an ‘illegal act of theft’, according to KCNA. The statement goes on to say that the action violates ‘the basic spirit of the joint statement’ signed last year in Singapore.

Adding that the US should return the vessels without delay and must ‘keep in mind what consequences they will face’.
Yeah, it doesn’t look like both sides are close to having another sit down session to talk things out. Expect the tensions here to grow as Kim gets more and more emboldened to toy around with his missile-testing.

Trump on Twitter – Says trade deal will be far worse for China in his 2nd term

US President Trump on trade negotiations with China, comments via social media:

A couple of tweets:
  • I think that China felt they were being beaten so badly in the recent negotiation that they may as well wait around for the next election, 2020, to see if they could get lucky & have a Democrat win – in which case they would continue to rip-off the USA for $500 Billion a year.
  • The only problem is that they know I am going to win (best economy & employment numbers in U.S. history, & much more), and the deal will become far worse for them if it has to be negotiated in my second term. Would be wise for them to act now, but love collecting BIG TARIFFS!
The tariffs, being collected from US firms importing goods from China, are set to get bigger after the latest hike on Friday. Trump already looking forward to higher again in his second term.
The trade dispute looks set to continue for the foreseeable future. Its difficult to see these comments being positive for China-proxy trades (lookin’ at you AUD). Buckle up!
US President Trump on trade negotiations with China, comments via social media:
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