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Chinese vice foreign minister says progress made in trade talks with U.S.

Published 10/22/2019, 05:30 AM
Updated 10/22/2019, 05:30 AM
Chinese vice foreign minister says progress made in trade talks with U.S.

By Ben Blanchard

BEIJING (Reuters) - China and the United States have achieved some progress in their trade talks, Vice Foreign Minister Le Yucheng said on Tuesday, and any problem could be resolved as long as both sides respected each other.

No country can prosper without working with other nations, Le said at the Xiangshan Forum in Beijing, which China styles as its answer to the annual Shangri-La Dialogue security forum in Singapore.

The world wants China and the United States to end their trade war, he said. That required openness rather than a "de-coupling" of countries or a new Cold War.

China has been nervous that the United States is seeking to sever, or at least severely curb, economic ties in what has been called a "de-coupling". Beijing fears that the Trump administration wants a complete separation with China.

The two countries have been working to resolve their trade dispute, with the United States announcing a "phase 1" deal with China on trade matters and suspending a scheduled tariff hike for October.

"As long as we respect each other and seek equal cooperation, there are no disagreements that cannot be resolved between China and the United States," Le said.

"What China wants is to deliver a better life for the Chinese people. We don't want to take anything from anyone else. There's no such thing as China replacing anyone or threatening anyone," he said.

China and the United States have accomplished much through cooperation over the years, Le said. "Why would we toss away the achievements of such cooperation?"

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However, Le also warned that China would never trade away its core interests or allow other countries to undermine its security.

"No one should expect China to swallow the bitter consequences of undermining its interests, whether on the land or at sea, whether it's Taiwan, Hong Kong, Xinjiang or Tibet," he said.

'SINISTER INTENTIONS'

China's foreign ministry accused U.S. lawmakers last week of "sinister intentions" to undermine Hong Kong's stability after they passed measures related to the anti-government protests that have rocked the city for months.

The Hong Kong Human Rights and Democracy Act, one of the measures passed by the U.S House of Representatives, would require the U.S. secretary of state to certify each year that Hong Kong retained its autonomy in order to receive special treatment as a major financial centre.

China would continue to safeguard its national security, Le said. The world had become safer and more peaceful because of China's development, he said.

The trade war and uptick in China-U.S. tensions have unnerved countries around the region, who fear both the impact on their own economies and being forced to take sides.

"For small countries like Singapore, we watch with deep concern as larger powers position themselves more aggressively against each other," Singapore's Defence Minister Ng Eng Hen said at the forum.

The world needed both China and the United States to ensure stability and deal with challenges such as climate change, nuclear threats and terrorism, Ng said.

"Singapore will maintain its strong friendships with both and avoid choosing sides. But it is also acutely aware that the farther the U.S. and China pull apart, the harder it would be for all countries to keep to this principled and neutral position," he said.

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In comments to French news agency AFP in Paris, the Chinese government's top diplomat State Councillor Wang Yi said the China-U.S. trade talks would not affect third parties nor come at the expense of China-Europe relations.

"As the world's largest potential market, China is open to all countries," Wang said, according to a transcript carried by China's foreign ministry on Tuesday.

Latest comments

target of Trump: destroy usa as Russia's mole and he got it.
china is the real king economic system. america will be second or third in 5-10 year after this.
market didn't react much.
I told you guys ... China is a rsing Super Power and they will become the economic engine for the world for the next decades. Their middle class of 300M is growing fastest and will become the only real consuming engine for goods and services. Any company that wants growth will still need China or they have no growth left their stock will crash. That's how it is.
This os coming frona guy named wong thay is wrong
Only the CCP and their elite allies are becoming stronger and stronger
WRONG Le Yucheng! The world and The US will be infinitely better off after a complete de-coupling from China. Every single neighbor in Asia literally hates China's guts, except for NK and Russia. There's a very good reason for this. The world needs to pick a side, and live with their choice. It's the autocratic communist dictatorship, or it's the free world. A second Trump term and a flipped house will likely bring permanent change to China's ability to lie, cheat and steal. Until that happens, I hope our negotiators will not be fooled again by their empty words spewed from their rear ends. I'm pretty sure our team has seen this tactic for what it is. Buy good American companies and good prices, and you'll be fine! China will fade away without notice, and we will better for it.
Anyone else so jaded that no matter what is said, you "know" they're lying?
"..No country can prosper without working with other nations, Le said.." --- Read all of the article with reference to Hong Kong and you can see that the Chinese just want to show some temporary humility to accomplish something on the trade side so they can abuse it later by not keeping up their side of the bargain, but they actually don't really mean it because they behave totally different with HongKong which should be free and democratic for at least another 28 years. So how come China pretends cooperation for trade but imposes its will on Hong Kong where China has no business repressing the citizens of Hong Kong right now?
So you think Trump is very truthworthy and keeps all his promises so far?
enough talk and market/media manipulation, we want to see the result!
You will be fired in any companies long time ago if you were having such a poor results. blabla bs.
Wait for tomorrow's opening: Gap and ******or Gap and Run up to nominal new highs and then fade into the close with a silly tweet from the jester prez and sell off until Wed or Thur
"..>SOME< progress in their trade talks, Vice Foreign Minister Le Yucheng said on Tuesday, and >ANY< problem could be resolved as long as both sides >RESPECT<ed each other.." --- WHOW! --- Now that China has to lick dirt it wants to be respected. But The way it handles its people and the world's environment, air and earth is with utter disrespect. When the bully cries Foul! --- Cowards in persona the Chinese. -------------- Actually, I don't believe anything China says. It's probably old news, and full of misunderstandings and inaccuracies and just to push the market into a bull trap like the last few times it made a nominal new high. ===== Probably somebody on the China side just bought hundreds of thousands of emini contracts yesterday so they can generate more US dollars. ---
progress=said hello on phone then hung up
Eddie Glass -- Yes, "..some progress.." : talked on the phone to read one paragraph and discuss its meanings, then said "Ok, will ponder how it fits into our scheme of thing. Talk to you in 2 days".
Lol! Love this comment!
Xi wanna buy soybean and pork meat while Trump wanna make his farmers happy . that is the trade war LOL
mnuchin declares trade deal 91% complete. 4 more years of talks til we see actual resolution
I told you guys ... the world needs China and US to get along. Trump seems to cool down down, cause if he goes out and poke the Lion again, then tomorrow worldwide markets crumbles. China is the only country that can offer growth to any company.
Yessssss. long live emperor Xi. :)
all lies..
sure china.. the country that says one thing and does another, or how about when the WTO rules in your favor... that's OK, but when the court says you aren't entitled to the South China Sea...oh what... wait..no no we don't agree
how is that different than US and wto. lmao.
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