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China, U.S. agree on text of phase one trade deal [Copy link] 中文

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Post time 2019-12-15 11:12:31 |Display all floors
(Xinhua) China and the United States have agreed on the text of a phase one economic and trade agreement based on the principle of equality and mutual respect.

The text includes nine chapters: the preface, intellectual property rights, technology transfer, food and agricultural products, financial services, exchange rate and transparency, trade expansion, bilateral assessment and dispute settlement, and the final terms, according to a statement issued by the Chinese side Friday night.

Both sides have reached consensus that the U.S. side will fulfill its commitments to phase out its additional tariffs on Chinese products, so as to achieve a switch from hiking to cutting additional tariffs.

The Chinese side believes that China and the United States, the world's two largest economies, must deal with bilateral economic and trade relations with the big picture in mind. Reaching the agreement will serve the fundamental interests of the people of the two countries and the world, and is expected to bring positive influences on areas including economy, trade, investment and the financial market.

The agreement is generally in line with the main direction of China's deepening reform and opening up as well as the internal needs for advancing the high-quality economic development.

Implementation of the agreement will help enhance intellectual property rights protection, improve the business environment, expand market access, better safeguard the legitimate rights and interests of all companies including foreign firms in China, and protect the legitimate rights and interests of Chinese firms in their economic and trade activities with the United States.

With the expansion of China's domestic market, Chinese enterprises will import more high-quality and competitive goods and services from countries including the United States under the WTO rules as well as market rules and business principles. The increase in imports is conducive to boosting the country's consumption upgrading and meeting Chinese people's growing needs for a better life.

The agreement will help the two countries enhance economic and trade cooperation, effectively manage, control and resolve differences, and promote the steady development of bilateral economic and trade relations.

As the global economy faces downward pressure, the agreement will boost confidence of the global market, stabilize market expectations, and create favorable environment for normal economic, trade and investment activities.

Both sides have agreed to complete their necessary procedures including legal review, translation and proofreading as soon as possible, and discuss the detailed arrangements for officially signing the agreement.

After the signing, it is hoped that both sides will comply with and earnestly implement the provisions of the phase one deal, do more to promote the development of bilateral economic and trade relations as well as global economic and financial stability, and safeguard the peace and prosperity of the world.

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Post time 2019-12-16 10:48:14 |Display all floors

US President Donald Trump proves to the world that US economy is the single capitalist that none could challenge and must obey unconditionally all terms demanded by US or face serious undesirable consequences.
Hence, the so called phase is just to buy time in favor of US coming election so that Trump will win and sleep his consecutive second term in White House.

Nothing new!




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Post time 2019-12-16 12:18:18 |Display all floors
Round One to China; Trump has capitulated; of course he will spin it as a huge gain for US, typical Trump bragging against the facts!  He needs the deal so badly for re-election, to take to his support base, he is willing to scale back his demands.  China knows that too well!

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Post time 2019-12-18 15:55:14 |Display all floors
Trump's trumpeted ' big big deal' is nothing more than a few beans and some pigs which China needs anyway!

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Post time 2019-12-19 21:39:51 |Display all floors
pnp Post time: 2019-12-16 12:18
Round One to China; Trump has capitulated; of course he will spin it as a huge gain for US, typical  ...

re: "Round One to China"

  I do say the same, Uncle Sam lost his China Trade War...

   Matter of fact uncle Sam's export prices to China fell more, because China had no trouble to find farm goods like Soy, while uncle Sam could not find buyers but was forced to fill up his warehouses...
   Many farmers have suffered, with a number going bankrupt, despite a bailout double the size of Obama's car bailout...

At the same time, N/Korea learned their lesson as well...  Now it's America begging them to come to the negotiating table.  

   Interesting how fast the tide can change... On top of it S/Korea got enough of being blackmailed to pay 5 billion$ to keep uncle Sam's solder boys on the Peninsular...


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Post time 2019-12-20 14:10:41 |Display all floors
OTTAWA (Reuters) - Canadian Prime Minister Justin Trudeau said on Thursday that the U.S. government should not finalize a trade deal with China unless the pact also secured the release of two Canadians detained by Beijing.

The two men were picked up separately in December 2018, shortly after police in Vancouver held Huawei Technologies Co Ltd [HWT.UL] Chief Financial Officer Meng Wanzhou on a U.S. arrest warrant. The two Canadians face state security charges.


It is now a clear proof that the Canadian PM and numerous of his bureaus have been colluding with US rogue agencies of American politicians in detaining Huawei's CFO Meng by faking accusations against her and Huawei . Defense legal experts ought to evaluate Justin's admission seen above whether it is indeed an illegal political cartel formed and heinously devised to detent Huawei's CFO ?



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Post time 2019-12-20 16:29:43 |Display all floors
12dream Post time: 2019-12-20 14:10
It is now a clear proof that the Canadian PM and numerous of his bureaus have been colluding with  ...

re: "Defense legal experts ought to evaluate Justin's admission"

Indeed however in this case; 'ought' and reality is far apart;  Eastern and Western point of Canada would be a good example...
   The whole world knows the answer,  re: illegal political cartel formed and heinously devised to detent Huawei's CFO...

    No Country would dare to speak up, aside the Middle Kingdom of course...
That's the reason uncle Sam is sh.t scared about the East...

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