If this trade war continues over a longer horizon, it could even result in shift of production bases and restructuring of global supply chains. Chinese firms are already moving production to their plants in other countries. India figures in the list of such probables.
The United States has maintained that Beijing has apparently reneged on its earlier commitments in trade negotiations, even as it swooped down with double tariffs on nearly USD 200 billion worth of Chinese goods on May 10.
In China’s top-down political system, where Xi has amassed formidable power, it’s unlikely that anyone else would have had the authority — or, for that matter, the nerve — to fundamentally alter the emerging pact at this late date.
This comes a day after Beijing announced a rise in tariffs on American goods worth $60 billion. Earlier on Friday, the US had hiked levies on $200 billion of Chinese goods inviting a threat of retaliation from China.
The initiative, a key thrust of President Xi Jinping's administration, has hit opposition in some countries over fears its opaque could lead to unsustainable debt and that it aims more to promote Chinese influence than development.
Before Trump’s threat Sunday, the plan had been for Liu to lead a 100-strong Chinese delegation to Washington for talks that were supposed to begin Wednesday. The effect of Trump’s threat was to delay these talks by a day.
Last month, China had placed a technical hold on a fresh proposal to impose a ban on the head of Pakistan-based JeM which claimed responsibility for the deadly Pulwama terror attack. It was for the fourth time, China blocked Azhar's listing as a global terrorist by the UN.
Xi was the latest Communist Party leader to retell the May 4 story to fit his agenda. Generations of students have absorbed textbooks that present the 1919 protests as a prelude to the founding of the Communist Party in 1921 and its unstoppable victory.
PM Modi and Chinese President Xi Jinping on Saturday began their last round of one-on-one talks on the second day of a two-day informal summit. They met at the East Lake and took a brisk walk while interacting with each other. They also enjoyed a boat ride over the lake.
PM Modi was among the many dignitaries present at the Twelfth G20 Summit held at Hamburg, northern Germany. US President Donald Trump, French President Emmanuel Macron, Canadian PM Justin Trudeau and Australian PM Malcolm Turnbull were also present.
Chinese troops staged a celebration of the 70th anniversary of Japan's surrender during World War II in Beijing; Vladimir Putin worksout in an open-air gym; Hundreds of angry migrants demonstrated outside Budapest's Eastern Railway Terminus.
Replying to the no-confidence motion, Prime Minister Narendra Modi said that when it came to Doklam, the Congress was all over the place when asked about meeting Chinese officials. And on surgical strikes, he said, the party's comments were childish.