China's trade surplus with US rises

Tanker vessel

China's trade surplus with US rises

Indeed, the latest soundbites from Beijing will probably send the White House into fits of exasperation after China's trade figures were announced.

China claims Taiwan as its own territory and says the sides, which separated during the Chinese civil war in 1949, must eventually be united, by force if necessary.

The US has almost Dollars 500 billion trade deficit.

The Chinese naval activity is the latest in what has become a back-and-forth of large displays in and around the South China Sea, with US warships conducting their own exercises with allies in the area.

Earlier, experts suggested that one of the goals of the USA unleashing a trade war against China was to prevent the strengthening of the yuan's global position as a reserve currency.

"For many years, our country has been very much taken advantage of".

In an interview with Sputnik, Liu Dongming, head of the Center for International Finance Studies of the Academy of Social Sciences of China, has predicted that the next few years will see the strengthening of the yuan's position.

While businesses share the concern about China's behavior, "the question that we wrestle with is how to make things better and not worse".

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Trump said Friday that he was not concerned that the tariffs would be a drag on the stock market.

That came after Chinese President Xi Jinping last month delivered a strongly nationalistic speech in which he vowed to protect "every inch" of China's territory. "That's the way it works", he said amid an applause.

These men include Wang Huning, the party's chief ideologue, who has written a book about his visits to the United States as a young scholar; Wang Qishan, Mr. Xi's most powerful lieutenant, who has cultivated relationships on Wall Street for decades; and Mr. Liu, the vice premier in charge of the economy, who has master's degrees from Seton Hall and Harvard.

While Trump has been impulsive and "ham-fisted", he said, "there are a lot of straws in the wind that could evolve into serious negotiation".

Washington says China's $375 billion trade surplus with the United States is unacceptable, and has demanded Beijing reduce it by $100 billion immediately. Now, they hadn't sold it in, what, 14 years or something. I said, "We want to sell beef" - that's a big industry - in China.

Wen Xuan, from the administration, said: "We have consistently opposed and condemned the sale of illegally-discharged cultural relics". And we did other things too.

"You can't stop Chinese people from gambling", said Pei Guangyi, one of the scholars. He then went on board Liaoning, which is the country's only aircraft carrier - China is building a second which is expected to enter service by 2020 - to watch naval manoeuvrings and tactical training processes. That's the design, it is not to punish; it's to grow.

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