Top US and Chinese officials make push for easier trade

US Commerce Secretary Gina Raimondo (right) during a meeting with China’s Minister of Commerce. Pic/AP

Commerce Secretary Gina Raimondo and her Chinese counterpart expressed a desire to improve trade conditions on Monday, as Raimondo began a visit to Beijing aimed at warming chilly relations, but neither side appeared willing to make concessions on the other's main demands.

Raimondo joined American officials including Treasury Secretary Janet Yellen in July who have visited China in the past three months. They expressed optimism about improving communication but have announced no progress on technology, security, human rights and other disputes that have plunged relations to their lowest level in decades.

For its part, Chinese leader Xi Jinping's government wants to revive foreign investor interest in China as it tries to reverse a deepening economic slump.

Beijing is ready to work together to "foster a more favorable policy environment for stronger cooperation" and "bolster bilateral trade and investment," Commerce Minister Wang Wentao told Raimondo. Wang gave no details of possible initiatives.

Raimondo said the two sides are working on establishing "new information exchanges" for "more consistent engagement."

"It is profoundly important that we have a stable economic relationship," she said. "I believe that we can make progress if we are direct, open and practical."

Aug 2022
China stopped trade talks

Foxconn founder as Taiwan prez?

Pic/AFP

Terry Gou, who founded Apple supplier Foxconn, said on Monday he will run as an independent candidate in Taiwan's presidential election.

At a news conference, Gou criticised the governning Democratic Progressive Party, saying its policies have "brought Taiwan into the risk of war" with China, which claims the self-ruled island as part of its territory. "I will definitely not allow Taiwan to become the next Ukraine," he said.

He said Taiwan also needs new approaches on the economy and other matters at home. Experts say Gou is unlikely to become a frontrunner.

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