The People's Republic of China flag and the U.S. Stars and Stripes fly along Pennsylvania Avenue near the U.S. Capitol in Washington during Chinese President Hu Jintao's state visit, January 18, 2011. Credit: Reuters/Hyungwon Kang
CNBC: Trump is signaling he's about to lash out at China — here's what Beijing is thinking
* President Donald Trump is set to make a speech Friday hitting on Chinese trade and intellectual property practices.
* The official Chinese response has largely been critical — but subdued.
* Government officials told CNBC, however, that China is in wait-and-see mode.
China is bracing for a clash with the U.S. when President Donald Trump announces potentially aggressive trade measures against Beijing. White House officials told CNBC the president will make a speech on Friday targeting Chinese intellectual property and trade practices. Here is how people in China are reacting.
China's official response
The official Chinese response has largely been critical but subdued. On Thursday in Beijing, the Chinese Commerce Ministry played up the U.S.-China trade benefits, but dismissed the notion that China has not done enough to protect intellectual property.
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WNU Editor: China still thinks (and hopes) that everything will be honky-dory .... and many U.S. businesses in China are thinking (and hoping) the same thing. But there is a change in the air, and it will continue to escalate as long as trade imbalances, North Korea, South China Sea, and other disputes continue to fester and remain unresolved.
2 comments:
Good thing Walmart a very minor operation
"dismissed the notion that China has not done enough to protect intellectual property."
What an asshole statement and he knows it. Anyone who has ever been to China knows that the amount of fake goods and copyright infringement has easily cost the US hundreds of billions if not in the trillions range. And then there's the outright theft of intellectual property - from industrial to military - that is in the trillions on top(!) of that. State sponsored theft. Not random. China is overdue for a slapping
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