Chindia Alert: You’ll be Living in their World Very Soon
aims to alert you to the threats and opportunities that China and India present. China and India require serious attention; case of ‘hidden dragon and crouching tiger’.
Without this attention, governments, businesses and, indeed, individuals may find themselves at a great disadvantage sooner rather than later.
The POSTs (front webpages) are mainly 'cuttings' from reliable sources, updated continuously.
The PAGEs (see Tabs, above) attempt to make the information more meaningful by putting some structure to the information we have researched and assembled since 2006.
NEW DELHI (Reuters) – German Chancellor Angela Merkel and Indian Prime Minister Narendra Modi signed wide-ranging agreements in New Delhi on Friday to deepen strategic cooperation and exchanged notes on ways to boost bilateral trade.
Merkel, accompanied by several cabinet colleagues and a business delegation, is in India on a three-day visit that began on Thursday.
“We’re encouraging our private sectors to give an impetus to our growing bilateral trade and Chancellor Merkel and I will meet some of the top business and industry leaders,” Modi told a joint news conference with the German leader.
“We’re encouraging our private sectors to give an impetus to our growing bilateral trade and Chancellor Merkel and I will meet some of the top business and industry leaders,” Modi said.
Bilateral trade between the two countries rose to $24.06 billion (18.5 billion pounds) in the 2018/19 fiscal year ending in March from $22 billion the previous year, while German companies have invested nearly $12 billion in India since 2000.
Germany is India’s largest trading partner in Europe and more than 1,700 German companies are operating in India.
The agreements struck on strategic cooperation, included agriculture, cyber security and artificial intelligence. Modi said the two countries would also bolster ties to combat “terrorism and extremism”.
Germany and India also agreed to join hands in the area of education.
“As many as 20,000 Indian nationals are studying in Germany and we would like to see more,” Merkel said.
Although Merkel and Modi didn’t mention anything about restarting talks on finalising a free trade agreement between India and the European Union, sources earlier said the two leaders could take up the trade deal.
Eric Schweitzer, president of the Association of German Chambers of Commerce and Industry (DIHK), earlier said India had enormous potential but there has been uncertainty among companies after an investment protection agreement between the two countries ended in 2016.
“Small and medium-sized German companies stand in a labyrinth of regulations and shy away from larger investment. Negotiations should restart and Merkel’s visit could help,” he said.
VDA, Germany’s car industry association that counts automakers like Volkswagen (VOWG_p.DE), Daimler, BMW and Audi as members, also wanted India to restart the FTA talks.
Daimler’s Mercedes-Benz, BMW and Audi dominate India’s luxury car market.
Kremlin says project highlights the growing closeness between the two countries
Military observers argue cooperation between the two sides helps provide counterbalance to American military might
Vladimir Putin disclosed the project at a forum in Sochi. Photo: Sputnik/AFP
Russia is helping China to build an early warning system to counter missile attacks, Vladimir Putin said on Thursday.
Speaking at an international affairs conference in the resort town of Sochi, he said Moscow was helping China increase its missile defence capability, Russian state-owned news agency Sputnik reported.
“This is a very serious endeavour that will fundamentally and radically increase the defence capability of the People’s Republic of China because only the United States and Russia have such a system at present,” the Russian leader said.
Kremlin spokesman Dmitry Peskov declined to say when the system would be operational, but told reporters on a conference call that the move highlighted Russia’s close ties with China.
“Russia has special relations with China of advanced partnership … including the most sensitive [areas] linked to military-technical cooperation and security and defence capabilities,” Peskov said.
Macau-based military observer Antony Wong Dong said Putin’s remarks indicated that military cooperation between Beijing and Moscow may have evolved from the previous “model alliance” to a “real alliance” with the US as their common target.
“Such changes will likely further fuel the strategic arms race, which is already evident from the missile tests [that we have witnessed] and the recent military parade,” said Wong in a reference to the grand parade held in Beijing on Tuesday when China celebrated the 70th anniversary of the founding of the People’s Republic.
Russian President Vladimir Putin welcomes China’s defence minister Wei Fenghe (right) to a base in Orenburg at the start of a joint exercise. Photo: Handout
Hong Kong-based military analyst Song Zhongping said the system would help Beijing and Moscow set up a joint early ballistic missile network to counter “American global hegemony”.
“If the US wants to attack China [with its ICBMs], their missiles are likely to be launched from the Arctic, and that will be covered by Russia’s early warning system, and that means Moscow will have the capability to alert Beijing,” said Song who added that the Chinese military could provide reciprocal help to Russia.
Beijing-based military expert Zhou Chenming said Putin’s remarks served as a veiled warning to US President Donald Trump who has taken the unilateral step of withdrawing from the Intermediate Range Nuclear Forces Treaty, a cold war-era pact signed between the US and Russia in 1987.
“Joint cooperation will help both Russia and China to save costs because early warning ballistic missile systems are very expensive,” Zhou said,
However, he said Moscow was unlikely to share its most advanced technologies with China.
“For example, Russia’s missile defence system just covers Moscow and St Petersburg, so China’s network will properly just cover Beijing, Tianjin, Hebei province, the Yangtze River Delta area, the Greater Bay Area in South China, as well as a number of key cities in the centre.”
Putin also told the forum that the two countries would continue to work together on space exploration.
Last month, the Ministry of Defence of the Russian Federation announced that Moscow and Beijing have developed a plan for cooperation between military departments for next year and 2021.
Last month 1,600 members of the Chinese military arrived at a Russian training base in the Orenburg oblast for a large-scale joint training exercise.
Rear Admiral Ma Weiming is seen as pioneer of electromagnetic aircraft launch system
Experts say Ma’s full membership of Central Committee shows how important sea power is to China’s strategic planning
An artist’s impression of China’s third aircraft carrier, the Type 002, which will incorporate an electromagnetic aircraft launch system developed by Rear Admiral Ma Weiming and his team. source: Photo: Handout
China’s Communist Party has elevated the senior naval engineer behind the development of a hi-tech launch system for the country’s next aircraft carriers, showing China’s ambition to increase its naval power.
Rear Admiral Ma Weiming, who is seen as the pioneer of China’s electromagnetic aircraft launch system (EMALS), was named as a full member, from alternate member, of the party’s Central Committee at the party plenary meeting which ended on Thursday.
The plenum sessions – attended by more than 300 full and alternate members of the Central Committee – provide an opportunity for the party’s most senior members to discuss and forge consensus on key policy issues.
Rear Admiral Ma Weiming (right) has been elevated to full membership of the Communist Party’s Central Committee. Photo: SCMP
Li Jie, a Beijing-based military specialist, said the move showed China’s ambition to continue expanding its naval military power.
“Ma’s promotion signals that Beijing will devote more resources to developing strategic military hardware like large warships and assault landing ships,” he said.
The EMALS is regarded as a breakthrough for the People’s Liberation Army, as it will enable China’s second home-grown aircraft carrier – known as the Type 002 – to launch larger jets with bigger payloads on longer missions.
The system could result in fuel savings of up to 40 per cent. With a higher launch energy capacity, it will also be more efficient than steam catapults, allowing for improvements in ease of maintenance, increased reliability, and more accurate end-speed control and smoother acceleration.
Why Chinese submarines could soon be quieter than US ones
Ma, who comes from Yangzhou in eastern Jiangsu province, graduated from the PLA Naval University of Engineering in Wuhan in 1987 and earned a PhD in electrical engineering from Beijing’s Tsinghua University in 1996.
A specialist in maritime propulsion, electrical engineering and related fields, he has mentored more than 400 masters and doctoral students at the naval university.
He and his team have often been recognised for their work as greater emphasis has been put on research and development amid the country’s military modernisation.
China’s first home-built carrier will use steam catapults and a ski-jump deck to launch aircraft. Photo: Handout
Ma has twice won the National Science and Technology Progress Award and in 2015 was awarded the science and technology achievement prize by the Hong Kong-based Ho Leung Ho Lee Foundation.
According to news reports, in the 1980s Ma spotted a potential flaw with an electrical component China planned to buy from overseas to use on its submarines that would have made the vessels easier to detect. Though the manufacturer denied any such problem, Ma spent five years tweaking the product so that submarines fitted with the part became harder to spot.
Three catapult launchers spotted in image of China’s new aircraft carrier
Beijing-based military expert Zhou Chenming said Ma’s promotion could be seen as a national endorsement of his work on EMALS.
“Ma was elected as a Central Committee member because the party and the country recognise the strategic importance of his work as China is expanding into a naval power with a huge maritime interest to protect,” he said.
Zhou, however, said Ma’s promotion was made two years ago, but he could not be formally made a full member until a vacancy opened up this year.
Image copyright FENG VIDEOImage caption Wu Huayan ate only rice and chillies in order to save money to help her ill brother
Well-wishers have donated almost a million yuan to a Chinese student who was hospitalised after living on 2 yuan ($0.30, £0.20) a day for five years.
The case of Wu Huayan shocked Chinese people after it hit the headlines earlier this week.
The 24-year old woman became seriously malnourished while struggling to study and support her sick brother.
Ms Wu’s story also sparked anger at authorities for failing to recognise her plight and help her much earlier.
After the story was reported, donations began pouring in for the college student in the city of Guiyang – reportedly totalling some 800,000 yuan ($114,000, £88,000).
What is Wu Huayan’s story?
Earlier, this month, the young woman went into hospital after having difficulty breathing, according to Chinese media.
She was only 135cm (4ft 5ins) tall, weighing barely more than 20kg (43 pounds; three stones).
The doctors found she was suffering from heart and kidney problems due to five years spent eating minimal amounts of food. She said she needed to save money to support her sick brother.
Wu Huayan lost her mother when she was four and her father died when she was in school.
She and her brother were then supported by their grandmother, and later by an uncle and aunt who could only support them with 300 yuan ($42, £32) each month.
Most of that money went on the medical bills of her younger brother, who had mental health problems.
This meant Ms Wu spent only 2 yuan a day on herself, surviving largely off chillies and rice.
The siblings are from Guizhou, one of the poorest provinces in China.
Media caption China’s uphill struggle fighting extreme poverty
What has the reaction been?
The case sparked an outpouring of concern – and anger at authorities.
Many people on social media said they wanted to help with donations, and many voiced concern about her college not helping her.
One user called her situation “worse than that of refugees in Afghanistan”, while another pointed to the extravagant cost of China’s 70th anniversary celebrations, saying the money could have been better spent.
Others expressed their admiration at her efforts to help her brother, while also persevering with her studies in college.
Aside from the donations on crowd funding platforms, her teachers and classmates donated 40,000 yuan ($5,700; £4,400), while local villagers collected 30,000 yuan to help her.
Officials released a statement saying Ms Wu had been receiving the minimum government subsidy – thought to be between 300 and 700 yuan a month – and was now getting an emergency relief fund of 20,000 yuan.
“We will keep following the case of this strong-minded and kind girl,” the Tongren City Civil Affairs Bureau said.
“We will actively co-operate with other relevant departments to solve the problem according to the minimum living standard and temporary assistance responsibility that the civil affairs department bears.”
Dubbed “Little Wang”, his story also went viral, leading to international donations from people impressed by his resilience, and shocked at his poverty.
Image copyright PEOPLE’S DAILY
While China’s economy has skyrocketed over the past decades, poverty has not disappeared, and inequality has grown.
One major reason cited is the huge divide between rural and urban areas.
As a point of comparison, in rural region of Guizhou where Ms Wu lives, that figure is around 16,703 yuan.
China has moved from being “moderately unequal in 1990 to being one of the world’s most unequal countries,” according to a 2018 report by the International Monetary Fund.
According to the National Bureau of Statistics in 2017, 30.46 million rural people were still living below the national poverty line of $1.90 a day.
China has previously pledged to “eliminate” poverty by 2020.
Image copyright TWITTER/@ARVINDKEJRIWALImage caption Delhi Chief MinisterArvind Kejriwal has been handing out masks to school students
Five million masks are being distributed at schools in India’s capital, Delhi, after pollution made the air so toxic officials were forced to declare a public health emergency.
A Supreme Court mandated panel imposed several restrictions in the city and two neighbouring states, as air quality deteriorated to “severe” levels.
All construction has been halted for a week and fireworks have been banned.
The city’s schools have also been closed until at least next Tuesday.
Delhi’s Chief Minister Arvind Kejriwal said Delhi had been turned into a “gas chamber”.
The masks are being handed out to students and their parents, and Mr Kejriwal has asked people to use them as much as possible.
The levels of tiny particulate matter (known as PM2.5) that enter deep into the lungs are 533 micrograms per cubic metre in the city. The WHO recommends that the PM2.5 levels should not be more than 25 micrograms per cubic metre on average in 24 hours.
As thick white smog blanketed the city, residents started tweeting pictures of their surroundings. Many are furious that the situation remains the same year after year.
The hashtags #DelhiAirQuality and #FightAgainstDelhiPollition are trending on Twitter.
One of the main reasons for air quality in the city worsening every year in November and December is that farmers in the neighbouring states of Punjab and Haryana burn crop stubble to clear their fields. It’s made worse by the fireworks during the Hindu festival of Diwali.
There are other reasons too, including construction dust, factory and vehicular emissions, but farm fires remain the biggest culprit.
Media caption A hair-raising drive through the Delhi smog
More than two million farmers burn 23 million tonnes of crop residue on some 80,000 sq km of farmland in northern India every winter.
The stubble smoke is a lethal cocktail of particulate matter, carbon dioxide, nitrogen dioxide and sulphur dioxide.
Using satellite data, Harvard University researchers estimated that nearly half of Delhi’s air pollution between 2012 and 2016 was due to stubble burning.
The burning is so widespread that it even shows up in satellite photos from Nasa.
What are PM 2.5 particles?
Particulate matter, or PM, 2.5 is a type of pollution involving fine particles less than 2.5 microns (0.0025mm) in diameter
A second type, PM 10, is of coarser particles with a diameter of up to 10 microns
Some occur naturally – e.g. from dust storms and forest fires, others from human industrial processes
They often consist of fragments that are small enough to reach the lungs or, in the smallest cases, to cross into the bloodstream as well
BEIJING, Oct. 30 (Xinhua) — China on Wednesday urged countries including the United States and Britain to stop distorting facts on Xinjiang-related issues and make real and concrete efforts to support the healthy development of the international human rights cause.
Foreign Ministry spokesperson Geng Shuang made the remarks at a press briefing when he was asked to comment on what happened during the dialogue between the Third Committee of the United Nations General Assembly and the Committee on the Elimination of Racial Discrimination.
On Oct. 29, a few Western countries including the United States and Britain delivered a common speech during the dialogue, criticizing China’s Xinjiang policy, while more than 60 others countries also made common speeches supporting China’s position on Xinjiang, praising China’s great progress in human rights protection and opposing interference in China’s domestic affairs under the name of human rights.
“The anti-China show put on by a handful of Western countries was a disgraceful failure,” Geng said.
He said the vocational and educational training institutions in Xinjiang were set up as preventive measures to combat terrorism and radicalization, which have turned the security situation around.
For three years, not a single violent or terrorist incident has taken place in Xinjiang, and the region now enjoys social stability and unity among all ethnic groups, said Geng, adding that people there are now living a happy life with a stronger sense of fulfillment and security, while their rights to life, health and development are also significantly improved.
“We urge countries like the United States and Britain to stop calling white black and standing on the opposite of facts,” Geng said.
Geng noted that in March this year, the 46th session of the Council of Foreign Ministers of the Organization of Islamic Cooperation (OIC) adopted a resolution, which spoke highly of and fully recognized the efforts China has made for Chinese Muslims.
In July, ambassadors from more than 50 countries to the UN office at Geneva co-signed a letter to the president of the UN Human Rights Council and High Commissioner for Human Rights, praising China for its respect and protection of human rights in fighting terrorism and deradicalization.
“These events fully indicated to us what is the overwhelming opinion of the international society. Tarnishing China will not get support and is completely futile,” Geng said.
As countries like the United States and Britain have disgraceful human rights records, they have no right to judge other countries and should seriously reflect on themselves, said Geng, adding that China urges those countries to stop politicizing and using double standards on human rights issues, and stop interfering in other countries’ domestic affairs under the pretext of human rights.
Chinese State Councilor and Foreign Minister Wang Yi (R) meets with former Ethiopian President Mulatu Teshome, who visits China as special envoy of Ethiopian Prime Minister Abiy Ahemd, in Beijing, capital of China, Oct. 30, 2019. (Xinhua/Yue Yuewei)
BEIJING, Oct. 30 (Xinhua) — State Councilor and Foreign Minister Wang Yi met with former Ethiopian President Mulatu Teshome and outgoing Cuban Ambassador to China Miguel Angel Ramirez Ramos on two separate occasions Wednesday.
When meeting with Teshome, who was visiting China as a special envoy of Ethiopian Prime Minister Abiy Ahmed, Wang said the two sides should enhance mutual political trust, firmly support each other on issues involving respective core interests.
To expand pragmatical cooperation, China will encourage more Chinese companies to invest in Ethiopia and advance cooperation in infrastructure construction, while stepping up coordination on regional and global issues and jointly safeguarding the interests of developing countries, said Wang.
The Ethiopian guest expected to cement exchanges with China on governance, and strengthen cooperation and coordination.
When meeting with the outgoing Cuban ambassador, Wang said as next year marks the 60th anniversary of bilateral diplomatic ties, the two sides should enhance high-level visits and exchanges at all levels and lift cooperation to new heights.
Wang also expressed China’s support for the Communist Party of Cuba and the Cuban government, saying China will continue to support Cuba in following the path of socialism, support its struggle to safeguard its integrity and national dignity, and fight against hegemonism.
Ramirez expressed appreciation of China’s support, saying the Cuban side will seize the opportunity of the upcoming 60th anniversary of bilateral diplomatic ties to advance cooperation.
Liang Yanshun (2nd L), deputy head of the Publicity Department of the Communist Party of China Central Committee, presents books to Sao Paulo State Governor Joao Doria (2nd R) during the release ceremony held at Palacio dos Bandeirantes, the seat of the state government, in Sao Paulo, Brazil, Oct. 29, 2019. The Brazilian editions of the first and second volumes of “Xi Jinping: The Governance of China” in Portuguese were released here Tuesday, prior to the 11th BRICS summit to be held next month in Brazil. (Xinhua/Gao Chunyu)
SAO PAULO, Oct. 29 (Xinhua) — The Brazilian editions of the first and second volumes of “Xi Jinping: The Governance of China” in Portuguese were released here Tuesday, prior to the 11th BRICS summit to be held next month in Brasilia.
More than 260 guests, including Liang Yanshun, deputy head of the Publicity Department of the Communist Party of China Central Committee, Chinese Consul General in Sao Paulo Chen Peijie and Sao Paulo State Governor Joao Doria, attended the release ceremony held in Palacio dos Bandeirantes, the seat of the state government.
In his address, Liang said the book reflects the evolution and main points of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, expounded on China’s path of development and its solutions to some of the common challenges facing mankind.
The publication of the book will inject new vitality into the China-Brazil efforts to strengthen exchanges on governance and chart a new course for bilateral ties, Liang added.
The book also talks about China’s approaches to keeping world peace and promoting human development, said Chen, adding that it will help Brazilian readers better understand China’s ideas and stances regarding international affairs as well as its diplomatic policies and practices.
For his part, Doria said that he felt honored that the release event was held in Sao Paulo.
Noting that China has set an example in national governance and economic development, the governor suggested Brazilians study the book, so as to draw inspiration from China’s experiences in facing various challenges.
The event was jointly held by the Chinese State Council Information Office, the Chinese Embassy in Brazil, China International Publishing Group and the Chinese Consulate General in Sao Paulo.
The deaths of three airmen in a helicopter crash and a second accident days later point to problems with training and equipment
The crashes happened within a span of 10 days, amid an increased number of intensive drills
Chinese military helicopters form the number 70 as part of the National Day parade in Beijing. Photo: AP
Engine flaws and a lack of training have been identified as the likely causes of two accidents that hit the Chinese air force in the space of little over a week – one of which claimed the lives of three airmen.
Deaths from the crashes, which happened within a span of 10 days, included a helicopter pilot who took part in the National Day grand parade at the start of the month.
A number of military sources said that as the air force stepped up its exercises – part of President Xi Jinping’s call to strengthen the “combat readiness” of the military – more accidents would happen as increased drills exposed technical problems and inadequate training.
“[If these problems are not resolved], it is foreseeable that more accidents will happen because the top brass is pushing for more drills and exercises across the military,” said one source close to the air force.
The fatal accident happened about three weeks ago in central Henan province, when a transport helicopter crashed, killing all three people on board.
Gong Dachuan, 33, was one of the airmen killed in the crash. Photo: Handout
Local television reports named pilot Gong Dachuan, 33, and 37-year-old engineer Wen Weibin, as two of this killed in the crash. The third victim was later named as Luo Wei, from Luzhou in Sichuan, by an online mourning website.
A memorial for Gong was held by the local government in Xinye County last Tuesday.
“The three people were conducting some tests on the helicopter,” said a local source who declined to disclose where the crash happened and the nature of the test.
Xinye county government in Henan province held a memorial to honour the dead pilot. Photo: Handout
Media reports said that Gong had flown in this year’s National Day parade in Beijing, while Wen had been decorated for his participation in the 2015 parade in Beijing to mark the 70th anniversary of victory over Japan in World War II.
The three dead airmen have been designated as martyrs, the reports added.
The second accident happened eight days later on the Tibetan Plateau where a J-10 fighter jet on a low-altitude flying drill crashed into the mountain.
“Fortunately, the pilot ejected safely in time, but the J-10 crashed into the mountain,” said an informed source, who requested anonymity since no official announcement about the accident has been made.
“Preliminary investigations indicated that the accident had something to with the Russian-made AL-31 engine on board the J-10,” the source said.
Military analysts said the air force needs to improve the durability of its aircraft and training for pilots.
Hong Kong-based military expert Song Zhongping suggested that problems with engines and flight control systems were also key reasons behind some of the fatal crashes.
Wen Weibin, 37, also died in the crash. Photo: Handout
Two J-15 fighter jets crashed in April 2016, resulting in one death and one serious injury. Investigations into the two crashes pointed to problems with the flight control system.
A source from the Chinese air force said that, unlike their American counterparts, PLA pilots generally lack training in avionics engineering and had little flying experience before enlistment.
“PLA pilots may be strong and courageous, and they are motivated to make sacrifices,” the air force source said. “But they don’t have as much experience as American pilots – many of [whom] have a lot of experience in flying civilian aircraft before they join the air force.”
Negotiations going ‘as planned’, foreign ministry says after cancellation of Apec summit at which presidents were set to meet to sign ‘phase-one’ agreement
With an election looming and possible impeachment inquiry, Trump in more of a hurry to reach a deal than Xi, observers say
Talks between China and the US are going well, according to the Chinese foreign ministry. Photo: AFP
Presidents Xi Jinping and Donald Trump have “maintained contact”, China’s foreign ministry said on Thursday after authorities in Chile announced the cancellation of the upcoming Apec summit at which the US and Chinese leaders were set to meet and possibly sign a trade deal.
Talks between the two nations were going well, ministry spokesman Geng Shuang told a daily press briefing.
“The negotiations are smooth and things are working out as planned,” he said.
“Regarding the meeting between the two state leaders, they have maintained contact through various means.”
Geng’s comments came after China’s commerce ministry said that top trade negotiators from the two countries would hold a telephone conversation on Friday.
Xi and Trump were due to meet on the sidelines of the Asia-Pacific Economic Cooperation summit in Santiago on November 16-17, but the event was cancelled due to the ongoing protests in the country. The leaders were also expected to sign an interim trade deal based on the ground made at the latest negotiations in Washington on October 11.
According to diplomatic observers, while Beijing wants a truce in the trade dispute it is in less of a hurry than Trump, who is facing the threat of impeachment and trying to prepare for an election campaign.
Shen Dingli, an expert in international relations based in Shanghai, said that China faced less domestic opposition to its handling of the trade talks than Washington.
“Trump is facing a lot of problems on both the diplomatic and domestic fronts,” he said. “[But] I think both sides still need an agreement. It is always better to have an agreement than not.”
US Trade Representative Robert Lighthizer (left) and Chinese Vice-Premier Liu He met in Washington early this month. Photo: AFP
Yuan Zheng, an expert on China-US relations at the Chinese Academy of Social Sciences, said that while the Apec summit had offered a convenient way for the presidents to meet, the substance of the deal was more important than where it might be signed.
“It’s true that the deal can be signed by representatives instead of the presidents but this depends very much on how keen Trump is for the presidential meeting to happen,” he said.
“He is facing an election and huge domestic pressure, so he … needs to show his strong leadership more than Xi. But of course, if the deal is set and if the details of the meeting are practical, the Chinese side would like a presidential meeting too.”
Shen Dingli, an expert in international relations, says China faces less domestic opposition to its handling of the trade talks than Washington. Photo: AP
Speaking after the talks in Washington between Chinese Vice-Premier Liu He, US Trade Representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin, Trump said the two sides had reached a “substantial phase one deal” and that after it had been put down on paper it would be signed at the Apec meeting.
Tai Hui, chief market strategist for Asia at JPMorgan Asset Management, said the cancellation of the Chile summit should not stop the US and China agreeing a truce.
“If the two sides are genuinely willing to reach an interim deal before mid-December, when the next increase in tariffs on Chinese goods is due to take place, they will find a venue to get it done,” he said.
CHINDIA ALERT: You'll be living in their world, very soon 