China Refuses to Be 'Marginalized' in US-North Korea Nuclear Talks

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Using one of the most oft-repeated metaphors for India and China, the Chinese Foreign Minister had said that it was time for the Chinese dragon and Indian elephant to dance together rather than fight each other.

Data on Thursday showed Chinese exports were up 44.5 percent in February from a year earlier.

Import growth on the other hand slowed down, from a 36.8% pace year-on-year to 6.3%.

A new blueprint for cooperation between the two sides will be fostered this year.

Thus, it was better to average out the data for the first two months in order to eliminate such distortions, which in this case revealed that imports had slowed versus a year ago.

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China's global trade surplus widened to $33.7 billion from January's $20.3 billion.

Beijing has accused Trump of threatening the global trade regulation system by taking action under US law instead of through the World Trade Organization. "The U.S.is acting swiftly on Intellectual Property theft".

Europe and China warned President Donald Trump on Thursday they would respond in the event of a trade war with the United States, with one Brussels official saying retaliation could also target goods from areas governed by his Republican Party.

It has already reduced steel exports to the U.S.to a trickle, and while aluminium shipments account for around 10 percent of its total global exports of the metal, the number is still small compared with China's total exports, according to ING economist Iris Pang.

The tariffs are created to counter cheap imports, especially from China, which Trump says are undermining USA industries and jobs.

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The domestic indices were trading in range on Friday taking cues from their Asian counterparts. On the currency front, the rupee closed flat at 65.17 against the United States dollar.

Over time, however, any additional punitive USA measures and retaliations by China or its other major trading partners would reduce global trade flows, disrupt worldwide supply chains and drag on global growth.

In response, China is already looking into restrictions on U.S. exports.

Net exports contributed 9.1 percent of China's GDP growth past year.

Wang said China "fully commends and supports" the steps taken by the two countries and calls on the United States and North Korea "to engage in dialogue sooner rather than later" and move to set up a peace-establishing mechanism.

"I don't think any country would want to make irresponsible comments about such matters", He said in a rare meeting with Chinese and foreign journalists on the sidelines of the annual session of China's ceremonial legislature, of which he is a member.

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