GERD: Talks on talks    Breaking down barriers    Foreign currency takes a hit    Syria's present gains    Like Lebanon, like Iraq    Rebound or second wave?    The last piece of gold    Mohamed Mandour, guru of modern pottery    Don't miss UBUNTU gallery's summer group exhibition    Trump says ‘great' bond with China's counterpart changed after COVID-19    Lebanese demand change after government quits over Beirut explosion    Global coronavirus cases surpass 20M as Russia approves vaccine    Who owned the chemicals that blew up Beirut? No one will say    France extends ban on mass gatherings to Oct. 30: PM    VIDEO: Al-Rehab residents vote in ُEgypt's Senate elections in highly organized manner    President Abdel Fatah al-Sisi votes in Senate Elections 2020    Gold prices in Egypt decline EGP 23 per gram on Tuesday    Coronavirus found on imported frozen seafood in China    Sturridge sets sights on Premier League return    Key global currencies rates in Egyptian banks on 11 August    WB-financed infrastructure projects to go into operation in 2 Egyptian governorates soon    Scottish Premiership at risk of shutdown after player breaks quarantine    Valencia report two COVID-19 positives    Egyptians start vote in Senate elections amid tight preventative measures against coronavirus    Isolation hospitals in Egypt to reopen for second wave of coronavirus    U.S. sends 250 ventilators to support Egypt's Covid-19 efforts    Egypt's parliamentary committee approves French grant to improve food wholesale trade markets    Netflix Egypt released its teaser images of Arabic original series, Ma Waraa Al Tabiaa    Sisi calls on Lebanon to unite, avoid disputes and regional conflicts    Egypt puts in place scheme ahead of Senate elections – ministry    Egyptian expats to vote for Senate elections by mail starting Sunday    African Champions League final will be played on Oct. 16-17, CAF says    Egypt invites Tesla's founder to visit Giza Pyramids after controversial tweets    No room to delay Egyptian Premier League games – EFA's board member    Egypt Cup games to resume after Premier League finishes: EFA    The Facebook Preacher's Search for Fame, and Egypt's Economy    Egypt's efforts in Libya to activate free will of Libyan people: Al-Sisi    Egypt calls on UNSC to address oil spill risks off Yemen coast    Egypt economically strong in face of COVID-19, reforms ongoing: International Cooperation Minister    Arafa Holding reports $144,000 COVID-19-related losses in April    Hyksos campaigns were internal takeover, not foreign invaders: study    COVID-19 affects Egypt sporting clubs    COVID-19 will soon turn to seasonal like swine flu: Presidential Health Advisor    ‘Egypt's Support' coalition convenes to discuss its Senate election list    Robbery attempt leads to discovery of Ptolemaic monuments in Qena    Flouting international guidance, Ethiopia unilaterally starts filling its Nile dam    Google ‘translate' ancient Egyptian hieroglyphs    Zaha speaks out after online racial abuse    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





China may be signaling it's going hard-line but it still wants trade deal
Published in Amwal Al Ghad on 17 - 07 - 2019

China may have just signaled it's going more hard-line on trade, but it could actually be a good thing, former top White House trade negotiator Clete Willems, told CNBC on Wednesday.
Beijing added a new member to its negotiating team last week: Commerce minister Zhong Shan, who's seen by many officials in Washington as a hard-liner. It could be a sign that Chinese leader Xi Jinping is standing firm on trade, analysts say.
The Chinese minister was present at last month's G-20 summit. He also participated in a phone conversation with U.S. trade representatives last week.
By adding Zhong to the negotiating team, it shows that Xi is trying to win over the hard-liners, said Willems, who left his role as deputy director of the National Economic Council (NEC) in March.
"China has now elevated its commerce minister Zhong Shan and made him a part of the core negotiating team along with (Vice Premier) Liu He. A lot of people are nervous — he's seen as a hard-liner," Willems told CNBC's "Squawk Box."
But he's not overly concerned. "I actually think it's a good thing because what it shows is that President Xi is trying to get buy-in from both the hard-line within China and the reformers, which is going to be necessary ingredients for a deal," Willems said.
"President Xi is only going to be able to get a deal if the hard-liners are bought in," he added.
Flexibility needed
Willems has served as the lead trade negotiator for the U.S. at summits like the G-7 and G-20, and also participated in trade talks in Washington and Beijing. He was a right-hand man to NEC Director Larry Kudlow on trade with China.
According to Willems, the Chinese team did try to "show flexibility" during the talks, but things turned around after they returned to Beijing.
"What ended up happening is that when Liu He brought the deal back to President Xi and to the entire political class in China, there was a bit of a rebellion from hard-liners who didn't think the deal was good from China's standpoint," Willems said.

"So there's going to need to be flexibility, but I think China has shown they're willing to put these things on the table," added Willems, who's now a partner at international law firm Akin Gump.
U.S. President Donald Trump said Tuesday that there's still a long way to go to reach a deal with China. He also threatened to slap tariffs on another $325 billion of Chinese goods.
But Willems told CNBC that a deal will ultimately be reached.
"My inclination is that we will get a deal, I think that a lot of really good work was done. I think it's in both sides' interest to harvest that work," he said. "I think China's economy — whether or not they want to admit it — is in a little bit of a difficult situation, and it's in their interest to get a deal."
The prolonged trade battle seems to be taking a toll on the Chinese economy. Data on Monday showed its economic growth slowed to 6.2% in the second quarter — the weakest rate in at least 27 years.
Source: CNBC


Clic here to read the story from its source.