Daily Trends Now
Daily Trends Now

China and United States clash on trade at heated APEC summit

China and United States clash on trade at heated APEC summit

In an apparent response to China talking about its investment in PNG, Mr Pence said the United States was a leading investor in the country and that "American investment in Papua New Guinea is unmatched".

Speaking immediately after the Chinese leader, Mr Pence delivered a sharp critique of China's practices, saying that Beijing has taken advantage of the U.S. for many years as it engaged in quotas, forced technology transfer and intellectual property theft.

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.

FBI Director Christopher Wray said: "I would tell you that China in many ways represents the broadest, most complicated, most long-term counterintelligence threat we face".

Chinese President Xi Jinping spoke of the need for global cooperation and worldwide trade, telling the Asia-Pacific Economic Cooperation summit there was no issue that countries couldn't work out "through consultation".

Amid speculation that China was wooing Papua New Guinea and planning to build its own military base, Prime Minister Scott Morrison on November 1 said Australia was boosting its commitment to the region and would partner with PNG in redeveloping Lombrum.

"Together, we can open a new horizon for the common development and prosperity of the Asia-Pacific and the world at large", Xi said.

Mr Pence did not elaborate on USA plans for the Manus Island base or whether USA ships would be permanently stationed there.

Pence said the USA will partner with Papua New Guinea and Australia on a joint maritime initiative at Lombrum Naval Base on Manus Island.

"History has shown that confrontation, whether in the form of a Cold War, hot war, or trade war will produce no winners", Xi said.

But even those island nations are being pulled into a geopolitical tug of war between China and the United States.

In the absence of Trump, who did not travel to PNG to defend "America First", that job fell to Vice-President Mike Pence.

However, Mr Xi appeared to warn against any further escalation of tensions between the two countries. Malaysia's 93-year-old Prime Minister Mahathir Mohamad said it will become irrelevant if developing nations continue to be left behind by globalization and free trade. "It is not an exclusive club that is closed to non-members nor is it a trap as some people have labeled it", he said. We don't coerce, corrupt, or compromise your independence.

"We do not a offer constricting belt or a one-way road", Pence told a summit of APEC chief executives, a precursor to the official leaders' meeting.

New Zealand is joining forces with the United States, Australia, and Japan in an ambitious project to bring electricity to 70 per cent of Papua New Guinea by 2030.

China has been showering billions of dollars in infrastructure loans on island nations in the Pacific, a region that is vital to global shipping and provides a stepping stone to project military and economic power. The Chinese leader said that globalization with a rules-based worldwide order would protect global growth, while isolation and protectionism would cause more problems.


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