A new editorial published in Xinhua stressed that: China will not give up legitimate rights, it is the right to decide how to run the econo...
A new editorial published in Xinhua stressed that: China will not give up legitimate rights, it is the right to decide how to run the economy.
As the trade talks between the United States and China increasingly focus on how China treats foreign companies, Beijing has announced most of its complaints about economic structure. China's economy is going against "core interests" - a sign that China will not trade its economic model for a trade deal.
Previously, the phrase "core interests" was often used to refer to Beijing's territorial sovereignty, for example when talking about Taiwan island. However, a new editorial published in Xinhua stressed that China will not give up legitimate rights as a decision to regulate the economy.
The article also lists five things that the US is damaging to global economic growth when triggering trade wars with China. "At the negotiating table, the US Government made a lot of arrogant claims, including restraining the development of state-owned enterprises. Obviously this is beyond the scope of negotiations. trade and touch the basic foundation of China's economy ... It shows that behind the commercial war that the US launched is an attempt to violate China's economic sovereignty as well as make China self-destruct cancel your own core benefits, "the article has a paragraph.
In the Chinese economy, giant state-owned enterprises hold almost all strategic industries such as energy, telecommunications and defense. Because these companies enjoy many preferential policies, foreign companies often complain that they are treated unfairly.
The United States criticized China for greatly benefiting from its accession to the WTO in 2001 without adhering to its commitment to reducing the level of state control. For its part, Beijing has also recently tried to strengthen the market's role in the economy and open up more to foreign businesses. But many observers still believe this process is too slow.
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