SCMP: Victims of intellectual property theft will be compensated, Xi Jinping tells world leaders
* Chinese leader also says a channel will be set up for foreign firms to make complaints and Beijing will take ‘major steps’ to further liberalise economy
* Promises come right before talks with US President Donald Trump in Osaka
Foreign businesses that have fallen victim to intellectual property theft will be compensated and a channel will be set up for them to make complaints, Chinese President Xi Jinping told world leaders in Japan on Friday.
Xi’s pledge at the Group of 20 summit in Osaka came ahead of a highly anticipated meeting with US President Donald Trump on Saturday, as the bloc faces division at a gathering overshadowed by a year-long trade war between the two countries.
In his keynote speech, Xi said China would take “major steps” to further liberalise its economy and reduce market restrictions for foreign investors.
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WNU Editor: This admission that China is guilty of intellectual property theft from President Xi is big .... but he does not provide any specific details on how such a compensation package will be structured. As to liberalizing China's economy .... I have heard this song and dance before.
10 comments:
Was this speech for the attendees or a domestic audience?
Does this mean Mexico finally sent $30 billion for the wall?
Well, knowing a little bit Chinese's this has to be explained in more details. If true, it's very welcome.
Another win for Trump.
Question: Without Trump constantly agitating about the one side trade deals and IP theft, would Xi have done this?
Answer: NO!
The pressure has got to be kept up or Xi will backslide like Crowley.
Yeah but...Sign up with your local Chinese court for redress.
Exactly. This is worth several trillion. .. a bit more important than the Wall (which he at least raised and understood as an issue and at least got something done).. these haters with their simple drone mind narrative. .straight from watching cnn..like programed parrots
...and other grand promises to be made.
Old Chinese saying: do not savor the meal till the host supplies the food
Another add on to the price that will be paid by citizens of the world for made in China products, and for products, made elsewhere, but containing made in China components. Assuming of course that it ever happens. The rush now will be on in China to find Chinese alternatives if court rulings don't work.
Hater
Kudos!! China is starting to get the message but I would like to see some verification in this trade deal. So far; my score on this trade war is US 2, China 1. Let's get some agreements on the South China Sea!
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