President Xi Jinping: China Will Boost Imports

Muriel Colon
November 7, 2018

China will stimulate the potential for increased imports, continue to broaden market access, foster a world-class business environment, explore new horizons of opening up, and promote worldwide cooperation at multilateral and bilateral levels, Xi said.

It would stimulate the potential for increased imports by lowering tariffs, increase people's income and spending power, and facilitate customs clearance.

It follows months of recriminations spanning trade, US accusations of Chinese political interference, the disputed South China Sea and self-ruled Taiwan. He said the USA will "suffer more" if it continues its efforts to launch a Cold War against China in an attempt to neutralize the growth of the country's economy.

"They should not just point fingers at others to gloss over their own problems". "They shouldn't always whitewash themselves and blame others, or act like a flashlight that only exposes others but not themselves". Trump has threatened to impose further tariffs on $267 billion of Chinese imports into the United States if the two countries can not reach a deal on trade.

President Xi address business and state leaders from more than 172 countries. After going through 5,000 years of trials and tribulations, China is still here!

But critics say Xi is yet to put his money where his mouth is and they are exhausted of empty promises.

On the issue of intellectual property rights, President Xi said that he will devise new regulations to defend and protect intellectual properties.

However, the comments were short on specifics.

While acknowledging China's leading role as a trading partner in the Kenyan economy, the President said his administration will give priority to trade and investment opportunities that lend support to the government's Big Four Agenda especially on manufacturing.

It is important to note that the United States has been ramping up allegations of intellectual property theft against various Chinese companies, most of which are state-owned.

Despite being a major exporter of pharmaceutical products, China accounts for only 0.2% of India's total pharmaceutical exports.

Government ministers from several other countries were also coming.

"Trade is to communicate. nobody can stop free trade", he told a business forum held on the sidelines of the China International Import Expo in Shanghai.

He said we need to implement 2030 sustainable development goals and reduce imbalances in the development. "China will stay calm and sober-minded, embrace greater openness and work for mutual benefit".

It may be noted here that the expo has been met with some foreign scepticism, with Washington snubbing the gathering by not sending high-level representation, instead calling on China to change "unfair" trade practices.

But the lure of China remains strong and the United States contingent includes even tech giants such as Facebook, which is blocked in China, and Google, which pulled out years ago over censorship and cyber-attacks.

Both are seen as eyeing new ways into China.

Xi announced Monday China's imported goods and services were estimated to exceed 30 trillion USA dollars and 10 trillion US dollars, respectively, in the next 15 years.

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