Since the high-level authorities are trying to lash out a deal in order to stop the trade war between the United States and China, one of the leading government academic of China has anticipated that the unjustifiable conflict will be too long and extended.
At present, the Chinese Vice-Premier Liu He who is in the US, wherein he is intended to meet President Donald Trump on Thursday, taking a time out from discussion with the top US trade authority, Robert Lighthizer.
Liu is aiming at bringing the tit for a tat trade war to an end which has waved from July 2018; thereby the US is demanding China unlock its economy with the foreign companies, scale down its trade deficit with the US and it deals fairly with the foreign companies who are functioning in China.
In the midst of the Huawei charges, Chinese team arrives in the US
High tariffs on billions of Chinese export products have been slapped which has counteracted in some parts of Beijing meanwhile Trump has recommended to put an end to the forced technology transfer and stealing of the intellectual property.
If by March 1, these issues have not resolved and dealt with then the tariffs on Chinese products of worth US$250 billion will increase nearly from 10 percent to 25 percent, effective from the next day onwards.
The Chief Research fellow, Zhang Yansheng at the China Centre for International Economic Exchange [CCIEE] which is government-linked think tank stated that due to constitutional differences over the issues of economic, security and political system will not be able to solve the issues within the deadline mention by March 1.
To do Business in China, US companies ready to exchange the technologies
On Wednesday, while briefing the media in Beijing Zhang mentioned that -I believe that the dispute between the US and China is unavoidable and may last for a long time and it’s irrational as of now but as time passes, and after more negotiation and fights, it will come to rational and then both the countries will co-operate again.
Adding to this he said that if the tariffs are increased by 25 percent, then it will be painful for both the countries and for their companies.
Zhang who is also listed as Academic Committee of the National Development and Reform Commission [NDRC, China’s state planner] member informed that the fresh increase in tariffs would have a negative impact on the global trade.
The views of Zhang on solving the challenge on trade war are in line with various top US authorities who have devalued the opportunity of taking a fast solution.
Another 30 days-time we do have, and after this, I assume that we will be able to produce significant progress during these meetings, although I would still like to insist on the complex issues – Steven Mnuchin the US Treasury stated it on Monday.
Huawei Case should not be linked to the trade talks China claims
The talks have been very difficult due of the continuous legal battle between US prosecutors, Ren Zhengfei who is the daughter of the Huawei founder and Sabrina Meng Wanzhou who is the Chief Financial officer at the Chinese technology company Huawei.
In December Meng was detained in Canada and is fighting the extradition to the US, although the prosecutors have reported 23 criminal charges against Meng and Huawei along with the charges of fraud, money laundering, stealing of intellectual property and conspiracy.
Huawei has disclaimed for any violation and also denied the criminal charges against Meng.
Meanwhile, the Company considered the model of China’s tech company is freezing out of the bidding processes which are taking place across the world for rolling out of the 5G technology; the bidding is mostly taking place among the US associates like Australia and United Kingdom.
The case related to Huawei reveals the doubtfulness of the US over China’s economic power and also with the political system and culture- as per senior figure at China’s state planner, who made the statement in the same press.
The senior director and fellow of the Institute of Economic Research at NDRC, Sun Xuegong mentioned that in general, the US doubtfulness has extended to Chinese companies.
China wants to challenge the status quota and want to alter it. This is what the politicians and Western media believes- sun stated. Many of us have participated in the policy talks although we never thought about it and this is a big conception the western media has about.