ABC News reports: "Tangled in an escalating trade dispute with the United States, China's top diplomat insisted Friday that his country 'will not be blackmailed' or bow to pressure. 'Protectionism will only hurt oneself, and unilateral moves will bring damage to all,' Foreign Minister Wang Yi told the U.N. General Assembly gathering of world leaders. He spoke in a week when Washington and Beijing both raised tariffs on each other's products, and U.S. President Donald Trump alleged that China is meddling in the upcoming U.S. midterm elections because it opposes his trade policies. China denies the claim, and Wang did not address the issue in his speech. 'China will not be blackmailed or yield to pressure,' Wang said, describing his country's moves as defending not just its own interests but the system of global trade. Noting that China spent more than a decade negotiating its membership in that system, he said his country has fulfilled its promises and is committed to resolving disputes within the framework of the World Trade Organization."

CNBC reports: "China's annual foreign direct investment outflows declined in 2017 for the first time on record, according to a government report released Friday. The drop came as leaders of the world's two largest economies increased scrutiny on cross-border deals, following a surge of Chinese investments in the U.S. — which included the high-profile purchase of New York's landmark Waldorf Astoria hotel by Chinese insurer Anbang in 2015. Beijing would like to stem capital flight, while the Trump administration is citing national security reasons for slowing or preventing Chinese acquisitions of U.S. companies."