Published: Sat, November 17, 2018
Finance | By Cynthia Curry

Xi Jinping: US-China trade war will produce no winners

Xi Jinping: US-China trade war will produce no winners

Speaking moments later, Pence told delegates the US offers countries in the region "a better option" for economic and diplomatic relations than Beijing's heavy-handed approach.

Pence is representing Trump at the summits after the president opted not to attend - becoming the first USA head of state to skip the marquee Asian conferences since 2013.

The Trump administration has levelled tariffs on US$250 billion in goods from China, over complaints of deep state subsidies for businesses and intellectual property theft.

Xi also tackled USA attacks on China's communist system, saying there were more than 200 countries on the planet and "trying to erase their differences will not work, such differences are not a hindrance to exchanges, still less a cause for confrontation".

"We believe that there exist no issues that countries can not resolve through consultation", said the Chinese leader, as long as negotiations take place in a spirit of "equality" and "mutual understanding".

"We are witnessing a rising tide of trade protectionism along with financial volatility in some emerging economies", Morrison said.

Trump told reporters Friday that the Chinese response to USA trade demands was largely complete but was missing four or five big issues.

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As well as the $US12 million road President Xi also opened unveiled the Butuka Academy in the capital's Moresby South District.

"China has taken advantage of the United States for many, many years and those days are over", he told the meeting of world leaders. China has been intensely wooing Papua New Guinea and other Pacific island nations with aid and loans for infrastructure.

Pence announced the USA would be involved in ally Australia's plan to develop a naval base in Papua New Guinea, where the summit is being held.

Speaking just before Pence, Chinese President Xi Jinping called trade protectionism a short-sighted policy doomed to fail.

Pence sought to reassure countries that are concerned that the U.S. The project could take decades to complete, cost trillions and was harshly criticized by Pence and Australian Prime Minister Scott Morrison, who Trudeau will meet Sunday.

Trudeau said the island leaders want to frame themselves as key players in the Pacific region - both environmentally and economically.

"They should be observed by everyone and implemented without any double standards", Xi argued. He said the USA was working to improve relations with Beijing, and pointed to Trump's upcoming meeting with Xi as an opportunity for progress.

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