Published: Thu, January 10, 2019
Economy | By

China Economic Slowdown Biggest Threat To Global Economy

China Economic Slowdown Biggest Threat To Global Economy

Asked if that meant the talks had been hard, Lu said: "I can only say that extending the consultations shows that the two sides were indeed very serious in conducting the consultations".

"Amid high hopes that world's two large economies will reach an agreement in the trade talks, stocks in Europe saw large gains on Wednesday".

China and the USA wrapped up three days of trade talks and are reportedly coordinating how to characterize the results publicly as officials from both nations expressed optimism that progress had been made.

China and the United States held a talk at the vice-ministerial level on economic and trade issues in Beijing from Monday to Wednesday, said a statement from the Ministry of Commerce.

No schedule for further face-to-face negotiations was released after the talks, and USTR said the American delegation was returning to Washington to report on the meetings and "to receive guidance on the next steps". US President Donald Trump tweeted that they were "going really well!"

After that meeting, top USA officials said China had made an additional $1.2 trillion in trade commitments.

The U.S. Trade Representative's office issued its own statement a day earlier, . and said China has pledged to purchase "a substantial amount" of agricultural, energy and manufactured goods and services from the U.S. The Asian markets reached almost one-month highs on speculation that the world's two largest economies were hammering out a deal, Schmitz said. Without a breakthrough in talks, USA corporations are likely to experience a deepening decline in their Chinese sales, with Bank of America Merrill Lynch analysts even seeing an "informal boycott" in place. Liu made a brief appearance at the talks in Beijing on Monday, boosting optimism that China was serious about making progress on a deal.

The negotiations were extended from the two days initially scheduled, according to the Chinese. Trump has complained repeatedly about the US trade deficit with China, which a year ago likely exceeded the 2017 gap of $336 billion.

Washington wants Beijing to change its plans to use government support to make Chinese companies world leaders in robotics and advanced technologies.

The US smartphone maker has felt the pinch of the bruising trade spat, and warned that 2018 revenues would miss its forecast - in large part due to a slump in iPhone sales in China.

Neither Chinese nor U.S. officials have given any details about the discussions.

The USTR statement didn't say whether progress had been achieved on its main concerns. -China Business Council. "That is very positive".

At stake are scheduled U.S. tariff increase on $200 billion in Chinese imports.

Tesla broke ground this week in Shanghai on its first factory outside the U.S. Musk said production of its Model 3 would start late this year.

Trump and Xi have given their officials until March 1 to reach an accord on "structural changes" to China's economy on issues such as the forced transfer of American technology, intellectual-property rights, and non-tariff barriers.

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