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Media Report
November 10 , 2017
  • CNBC comments: "Xi's speech at the Asia-Pacific Economic Cooperation summit in Da Nang, Vietnam, followed an address from President Donald Trump. Trump similarly called for economic openness, but struck a harsh tone against countries he deemed guilty of "chronic trade abuses." Xi praised many of the results of an increasingly connected world. "Over the last few decades, economic globalization has contributed significantly to global growth. Indeed, it has become an irreversible historical trend," Xi said, according to a provided translation. "In pursuing economic globalization, we should make it more open, more inclusive, more balanced, more equitable and more beneficial to all," the Chinese leader told the gathering of political and business leaders. Xi is attending the APEC meeting fresh out of last month's 19th Chinese Communist Party Congress during which he consolidated power at the top of the political totem pole. In the last year, he has also sought to market the world's second-largest economy as the flag bearer of free trade — despite the fact that many elements of China's economy are not open."
  • Bloomberg reports: "American and other securities firms scored what looks like a big win Friday when China announced new rules allowing them to own 51 percent stakes in joint ventures. It's just the sort of market-opening move President Donald Trump was seeking on his first trip as president to Beijing. Except Trump didn't know it was coming. He didn't even ask for it in specific terms on the trip, say people familiar with the situation -- even though it's been at the top of the wish list for U.S. financial firms for years. The State Department didn't know either. It is the single most-important thing that happened while Trump was in China, business experts agree, and he would have been well within his rights to trumpet it on Twitter. China has resisted letting overseas firms have controlling stakes inside the country, but experts say it's a critical step to allowing investment to flourish inside that nation's tightly controlled economy. And yet it didn't even merit a mention in the 1,392-word statement the White House released about what happened while Trump was in China."
  • Los Angeles Times comments: "For years, Zheng Shenghui sold grinning caricatures of President Obama and Chinese President Xi Jinping from his small booth in Beijing's Happy Valley Amusement Park. These days, his drawings aren't so cheerful. After Obama left office in January, an angry, grimacing President Trump replaced him. "I drew a frown because he's upset," said Zheng, 35. "Trump wants it be the 1970s again, when America was No. 1. But things change. He needs to understand the world keeps turning." Trump spent two nights in Beijing this week on the third leg of a five-country Asia tour before departing for Vietnam on Friday. Chinese state media called it a "state visit-plus," underscoring the lavishness of his welcome. He met with Xi, received a military honor, toured the Forbidden City and enjoyed an opulent state dinner. For his part, Trump, who during his campaign vilified China as an "economic enemy," was a relatively polite guest. "Who can blame a country for being able to take advantage of another country for the benefit of its citizens?" he told a crowd of Chinese and American business executives, as Xi looked on. He called his relationship with Xi "a great one." But there have been many reasons for ordinary Chinese to look beyond the frowning caricatures of the American president. Many in the country's elite see Trump's "America First" isolationism as an opportunity for China to rise on the global stage. And for ordinary Chinese, too, Trump can be an appealing figure. While opinions are dizzyingly diverse — in a country of 1.4 billion people, it is difficult to generalize — Trump seems to elicit a surprising level of goodwill when his name comes up."
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