Nifty99000 100%

Sensex99000 100%

Article rating: 4.8
Tags:
Article rating: 4.8
Tags:
Article rating: 4.0
Tags:
Article rating: 5.0
Tags:
Article rating: 4.0
Tags:
Article rating: No rating
Tags:
Article rating: 5.0
Tags:
Article rating: 3.7
Tags:
Article rating: 5.0
Tags:
Article rating: 5.0
Tags:
Article rating: 4.3
Tags:
Article rating: 5.0
Tags:
Article rating: 5.0
Tags:
Article rating: 5.0
Tags:
Article rating: 5.0
Tags:
Article rating: 5.0
Tags:
RSS

News

Xi, Modi May Stump Trump On Trade Talks

Author: PTI/Wednesday, June 12, 2019/Categories: Global

Xi, Modi May Stump Trump On Trade Talks

Beijing: Prime Minister Narendra Modi would discuss with President Xi Jinping the respective nations trade frictions with the US and the two "good friends" could reach a consensus on opposing "trade protectionism" during their very important meeting during the SCO summit in Bishkek this week.

This year's summit of the Shanghai Cooperation Organisation (SCO) will be held in the Kyrgyz capital of Bishkek on June 13-14 where Modi and Xi are scheduled to meet and discuss bilateral and international issues.

The meeting assumes significance as this is the first meeting between the two leaders after Modi-led BJP's massive victory in the recent elections in India.

Xi had congratulated Modi on his re-election through a letter on May 23.

"Once again we congratulate Prime Minister Modi. President Xi and Prime Minister Modi are good friends. They had very successful informal summit at Wuhan last year," Chinese Vice Foreign Minister Zhang Hanhui told a media briefing here answering a question on the Modi-Xi meeting.

He said the Wuhan summit has provided strategic guidance for the development of India-China ties, paving the way for stable growth of China-India relations in the long run.

The April 27-28 Wuhan summit between Modi and Xi was largely credited to have turned around the bilateral relations soured by the 73-day Doklam standoff in 2017, triggered by Chinese troops' attempt to build a road close to the Indian border in an area also claimed by Bhutan.

After the Wuhan summit, both the countries stepped up efforts to improve relations in different spheres including the military-to-military ties. 

When asked about the planned Modi-Xi meeting on the sidelines of the SCO summit, Zhang said, "While the details for the meeting are under discussion, I believe every bilateral meeting between President Xi and Prime Minister Modi is very important. From the Chinese side, we will make good perpetrations for the success of bilateral meeting." 

He also said the China-US trade war and the "spectre" of emerging trade frictions between the US and India could become important part of the discussions between the two leaders.

"Whether they will talk about trade fictions between China and the US and the spectre of trade frictions between the US and India, such things are not surprising. I believe this could become an important topic in his bilateral meetings with the related leaders," he said.

The two countries have been in an escalating conflict over trade for the past year. The scope of the battle has expanded in recent months as Washington has tightened trade restrictions on Chinese telecom giant Huawei.

Hopes for an imminent trade deal were shattered in May after the Trump administration more than doubled tariffs on USD 200 billion of Chinese imports and threatened additional duties.

US President Donald Trump is demanding China to reduce massive trade deficit which last year climbed to over USD 539 billion. He is also insisting on China to workout verifiable measures for the protection of intellectual property rights (IPR), technology transfer and more access to American goods to the Chinese markets.

Chinese officials hope that India, which is also facing trade frictions with the US specially over termination of its designation as a 'beneficiary developing country' under the Generalised System of Preferences (GSP), would join the fight against Trump's protectionist policies.

"Trade protectionism and unilateralism are very much on the rise. How to respond to the bullying practices of the US, its practice of trade protectionism this is an important question not only to China, but also has direct bearing on the recovery of global economy," Zhang said.

"So I would say it will be helpful if the two leaders could exchange views and we hope their communication will lead to extensive consensus on upholding justice and opposing trade protectionism," he said.

"I hope with their cooperation, the two countries will not only enhance bilateral trade but also play an important role in promoting global economy," he said. Xi will exchange views with his foreign counterparts on bilateral and international issues as well, he said.

Print Rate this article:
No rating

Number of views (308)/Comments (0)

srikanth godavarthi

PTI

Other posts by PTI
Contact author

Leave a comment

Name:
Email:
Comment:
Add comment

Name:
Email:
Subject:
Message:
x

Videos

Ask the Finapolis.

I'm not a robot
 
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
 
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest
 
 

Categories

Disclaimer

The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.

Subscribe For Free

Get the e-paper free