China promises new global trading strategy as US deal nears fruition

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China appears to be putting distance between its strategies and those of the US, while also looking to end the trade war. President Xi Jinping has said that China will be open to more imports, and “put the common good of humanity first rather than place one’s own interests above the common interests of all”. (One wonders if the Uyghurs see it that way.) According to Bloomberg, in a thinly veiled reference, he added: “We need to tear down walls, not erect walls. We need to stand firm against protectionism and unilateralism. We need to continually bring down trade barriers, optimise global supply chains and jointly foster market development. Integration of the economy is the order of the day.”

The speech came as China and the US look to develop ‘phase one’ of a new trade agreement.