China has been described as a 'problem' by US officials
On Wednesday China has been described as a “problem” by a top US official and said that Beijing has not responded to America’s queries on trade and intellectual property.
White House Chief Economic Advisor Larry Kudlow told Fox Business News, “China is a problem. They have not responded to our asks. It’s not just the trade deficit per say. It’s the theft of IP (intellectual property), it’s the force transfer of technology.”
Kudlow told that the Chinese started a new rule in China about cyber security according to which the police are allowed to hack into American and other foreign companies.
“That’s outrageous,” according to him.
In reply to a question, Kudlow told that China should rethink its strategy if their plan is to wait till the mid-term elections in the hopes that the Republican party would lose the House and they would have more leverage.
As per Kudlow, “If that is their thinking, they better rethink their thinking because, look, the House may change hands or not. I think it’s going to be very close. The president is not going to change his view, point number one. China has got to come back into the world of lawful trading practices. They are not, and everybody around the world know that.”
Kudlow told that “The whole world knows that China is wrong.”
President Donald Trump is not going to change his view whatever may be the result of the elections, according to him.
Kudlow also told that this is an era where the US is defending the economic rights for its workers, manufacturers and its overall economy.
“China will miscalculate if they think there’s going to be some change in November regardless of who wins,” as told by him.
He told that the talks with the Chinese have been unsatisfactory so far and further added that “The president will probably meet with President Xi Jinping at the G20 in Argentina. We will see whether that person-to-person diplomacy yields any benefits. I think it’s always better to talk than not to talk.”
“I want to see a trade deal. I have become very cynical because we’ve given our ask and China does respond. I worry that they’re moving in the wrong direction with a more closed economy and a less liberal economy. And the great reforms of Deng Xiaoping have basically been abandoned. That’s a trouble spot,” according to Kudlow.Previous Post Next Post
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