China to hold its ground as US-China trade talks resume
China is ready for a serious dialogue with the United States, but it will stand its ground on the negotiations, Chinese media said.
Chinese tabloid newspaper The Global Times said in an editorial on Thursday that ‘China must persist and not fear’ the United States (US) if it desires good results. According to the paper, Beijing has already sent a clear signal to Washington that ‘China can never be daunted’ in a recent telephone conversation.
‘As trade between China and the US is highly likely to continue, the two countries may eventually reach an agreement. But China will not be impatient or afraid of setbacks,’ the newspaper, which is published by the country’s ruling Communist Party People’s Daily said. 'Negotiation outcomes are not often obtained through talks, but through fights,' the paper added.
Separately, state-backed newspaper China Daily said in an editorial that although a single meeting between the US and China is unlikely for them to iron out all the trade issues, both parties are ready for a ‘serious dialogue’ as a trade war creates a ‘lose-lose’ situation.
Earlier this week, the US and China said they are rekindling trade talks and the teams from two sides are preparing for the meeting at the Group of 20 summit in Osaka, which will take place end June. The announcement was cheered on by financial markets.
Trade talks between both sides came to a standstill last month after the US accused China of backing off from previously-agreed commitments.
Washington has already imposed 25% of tariffs on US$250 billion of Chinese goods and has threatened to slap on tariffs on additional US$325 billion worth of goods.
China has retaliated with tariff hikes on US$60 billion of US goods.
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
Please see important Research Disclaimer.
Start trading forex today
Trade the largest and most volatile financial market in the world.
- Spreads start at just 0.6 points on EUR/USD
- Analyse market movements with our essential selection of charts
- Speculate from a range of platforms, including on mobile
Live prices on most popular markets
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.