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Media Report
March 05 , 2018
  • The Wall Street Journal reports: "Premier Li Keqiang's nearly-two-hour speech laying out China's economic priorities for 2018 is unlikely to ease trade tensions between Beijing and Washington. Opening the National People's Congress on Monday, Mr. Li again emphasized industrial policies the West has criticized as benefiting Chinese companies at the expense of foreign competitors. He listed broad goals for advances in technologies, from big data to aircraft engines to clean cars, articulated in the "Made in China 2025" plan to boost manufacturing. Senior U.S. officials including Trade Representative Robert Lighthizer have called the plan a threat to fair competition, saying it encourages state subsidies for domestic companies and drives them to force technology transfer from foreign partners."
  • CNN reports: "China plans to boost its military spending by 8.1% in 2018 as it looks to further advance an ambitious modernization drive for its armed forces. A budget document made available to the media before the opening of China's 13th National People's Congress (NPC) in Beijing on Monday, reveals China will spend the equivalent of US$175 billion across all branches of the People's Liberation Army... The Pentagon has requested a budget of $686 billion in 2019, up $80 billion from 2017. China's budget announcement comes as President Xi Jinping, the commander in chief of the country's armed forces, focuses on increasing both the sophistication and reach of the country's military."
  • The Washington Post reports: "China's premier warned about rising global protectionism and vowed a "bolder" approach to reform in a key address to parliament Monday, but experts said his government's actions belie such rhetoric. China's Communist Party has barely missed an opportunity to claim the moral high ground over trade and globalization since President Trump set the United States on a more inward-looking and protectionist path. Last week, Trump announced sweeping tariffs on steel and aluminum imports, provoking sharp criticism from Canada and the European Union, and sparking fears of a trade war."
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