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Media Report
May 12 , 2017
  • USA Today reports: "Declaring the U.S. relationship with China is hitting a new high, Commerce Secretary Wilbur Ross announced Thursday an agreement between the two countries on 10 trade issues. Ross said the deal is the start of new communication and coordination with the Chinese. 'This is more than has been done in the whole history of U.S.-China relations on trade,' he said. While Ross called it a 'herculean' accomplishment to find agreement between the countries in the initial 10 areas, he promised more deals would be coming. 'There are probably 500 items that you could potentially discuss, maybe more than 500,' he said. The agreement was striking especially given Trump's previous hard-line stance toward China. During last year's presidential campaign, President Trump bashed China as a currency manipulator. But he's since reversed that position, suggesting it was part of a strategic plan to convince China to work with the U.S. to confront North Korea's missile buildup. Yet Ross told reporters the North Korean situation was not mentioned during the trade negotiations. 'It was not a quid pro quo,' he said."
  • The Washington Post reports: "When President Trump withdrew from the Trans-Pacific Partnership trade deal in January, critics said he was leaving a vacuum at the heart of the Asia Pacific, ceding the United States' role as regional economic leader. On Sunday, China plans to show how it is filling that vacuum. At a major set-piece event in Beijing, President Xi Jinping will project himself as the leader of a new economic order and extol an ambitious global trade and infrastructure development plan known as the Belt and Road Initiative. Some 28 leaders from Asia, Europe, Africa and Latin America — including Russian President Vladimir Putin, Burmese State Counselor Aung San Su Kyi and Philippines President Rodrigo Duterte — will attend the two-day summit. They will be hoping to land a share of hundreds of billions of dollars in promised Chinese lending and investment dedicated to the building of ports and railways, power plants and pipelines across the globe...'This is another chance for Xi Jinping to strut his stuff on the global stage and burnish his leadership credentials,' said Tom Miller, author of 'China's Asian Dream: Empire Building Along the New Silk Road.' But, he added, it also relates to Donald Trump. 'Withdrawing from the TPP left a void at the heart of economic leadership in Asia, and Xi Jinping is trying to jump into that void.' "
  • Quartz comments: "World leaders are gathering in Beijing this weekend for a big summit touting China's infrastructure spending spree to connect Europe, the Middle East, Asia, and Africa. The project, known as the Belt and Road Initiative—or 'One Belt, One Road' (OBOR) in straight translation—was introduced by president Xi Jinping in 2013 as a land-and-sea version of the fabled Silk Road trading route of the 16th to 18th centuries. China says the project is open to everyone, but it has also identified 65 countries along the Belt and Road that, since the early stages of the proposal, it's insisted will participate in the initiative (whether they've confirmed it themselves or not)...But a closer look at the attendee list shows that only 20 OBOR countries will send their heads of state (nine, including Fiji, are from outside the Belt and Road). In other words, 44 OBOR nations are not sending their top leaders to the OBOR summit. None of the Middle Eastern nations will; neither will most European countries. As for the 20, they have an average GDP per capita of about $14,700, compared to $25,000 for the 44 countries that won't, according to UN data...The Belt and Road initiative is Xi's signature foreign-policy effort, and China's state-controlled news outlets have billed the summit as one of the year's most important international events. Judging by the no-shows, not everyone feels the same."
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