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China Makes A Strong Statement On Trade

China Makes A Statement On Trade

The US and China are now talking but the Beijing side is now demanding that the US “remove all unreasonable restrictions” before sitting down for more meaningful talks. Chinese State Councilor and Foreign Minister Wang Yi said in New York on Tuesday that such expectations are normal. “China-US relations today have once again come to a cross roads,” Wang said, at a dinner co-hosted by the National Committee on US-China Relations and The US-China Business Council.

Many foreign companies have stated that they are forced to transfer key technology in order to operate in China and they have also suggested that access is uneven. Names like Mastercard and Visa have struggled for years to break into the Chinese market while UnionPay, a state-controlled company in China has expanded globally. Google, the search firm has been blocked altogether in China. The US has placed Chinese telecommunication giant Huawei on a blacklist the effectively prevents the firm from buying from US suppliers. The US Chamber of Commerce in Shanghai released a comment saying that it was looking for greater access to the domestic market – but will this be part of a trade deal.

More on this topic in the coming weeks.

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