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Xi Jinping has warned that Donald Trump’s growing trade war will not lead Chinese leader Vietnam, Malaysia and Cambodia to strengthen relations with the export-directed Southeast Asian economy.
Visit, ElevenThis year, the first foreign trip, the US president has increased tariffs on Chinese products by 5 percent, deepening the fear of decopling among the two largest economies in the world and deepening the sales card in the global market.
Before this visit, Shi called for more cooperation in promoting a “equal and well-organized multi-polar world” with Vietnam and other developing economies.
“Trade War and Tariff War will not produce any winners, and protection will not lead anywhere,” Shi Vietnamese media wrote that countries should “protect the multilateral trade system, stable global industrial and supply chain and an open and cooperative international environment”.
Many Southeast Asian countries-which have low-cost exports to the United States, have high trade surplus in the United States-more than 49 percent by Levi. Global Supply Chains have gone to this region in recent years, especially in Vietnam to bring variety from China and avoid us TariffThe
Trump has announced a 90-day recovery since then, but trade uncertainties concerned the Southeast Asian governments and raised questions about Washington’s promise in the region, where China is already the largest investor and trade partner in many countries.
Shi’s visit is sending the message that “We are trying to maintain the current international economic discipline, who are protecting the obstacles, and the Chinese market will be open”, said Dylan Loh, an assistant professor at Naniang Technological University in Singapore.
Highlighting the uncertainty, the US announced Friday that the smartphone and some other customer technology products, as well as the semiconductor and chipmeting equipment imported from China, will be excluded from steep “mutual” tariffs, opposite Trump before Trump on Sunday, the discount was temporary, with a discount, with a discount, with a discount, with a discount. Separate duty To be established for the sector.
The Chinese leader’s visit begins on Monday in Vietnam, one of the world’s fastest growing economies and an emerging manufacturing power house. On Tuesday, he traveled to Malaysia, the Chairman of the Southeast Asian Nations of this year and the Cambodia Association.
Shi will try to favors the Southeast Asian leaders under pressure to crack the transplants of Chinese products through their countries to bypass.
Written Last week, Trump’s trade adviser Peter Navaro said: “We would like to hear from countries including Cambodia, Mexico and Vietnam that you would like to avoid US tariffs by transpating through your countries.”
US Treasury Secretary Scott Besent met with Vietnam Deputy Prime Minister Ho Duke Folk last week and agreed to launch formal trade talks.
Independent analysts of Chinese politics, Yanmei Jai, said that when Washington launched trade negotiations with various countries, “a big inquiry” is more isolated from China in exchange for access to the US market.
“The game is trying to get ‘the third’ countries”, Jai says.
Spanish Prime Minister Pedro Sanchez met at Beijing on Friday and EU leaders are planning to travel to China at a summit in late July. She told Shi Sanchez that she was eager to deepen relations with European countries during the strict trade war and repeated her that the world was “through the unseen change in a century”.
Economists have warned that US tariffs opened this month will have a harmful impact on Southeast Asian countries. Vietnam, which faces the rate of 46 percent, will be among the most affected, accounting as about one third of its exports to the United States.
Singapore’s bank OCBC has reduced its 2020 GDP growth forecast for Vietnam after the announcement of the tariff.
Loh said that southeast Asian countries would try to “hedge and growing thin lines” among rival superpowers. Although Vietnam has been one of the largest beneficiaries of production shifts away from China, its larger neighbor is also The largest source of new investment projectsThe
Singapore’s Foreign Minister says Interview with FT’s last week The global trade system that can prove “very hostile for small countries”, which at risk of “pressing”.
Beijing has spent several years to build strong economic and trade relations in Southeast Asia, even though its regional disputes in the South China Sea have worsened, infrastructure has invested billions of dollars.
James Char, a Chinese expert at the S Rajaranam School of International Studies in Singapore, says the uncertainty caused by Trump’s trade policy has created a risk opportunity for Beijing to “claim to be a reliable partner for countries in the region.”
However, many developing economies in Southeast Asia have grown with China, but there is widespread concern about Beijing’s impact in the region, he added.
“Deeply, in most countries in Southeast Asian, there is a great power of China to be stored about the possibility of a great power to be in Hegam,” Char said.
