China will not be 'blackmailed' on trade

Chinese Foreign Minister Wang Yi says his country will not be blackmailed or yield to pressure, amid an ongoing trade dispute with the United States.

China's top diplomat has insisted his country "will not be blackmailed" or bow to pressure, amid the Asian nation's escalating trade dispute with the United States.

"Protectionism will only hurt oneself, and unilateral moves will bring damage to all," Chinese Foreign Minister Wang Yi told the UN general assembly gathering of world leaders on Friday.

He spoke in a week when Washington and Beijing both raised tariffs on each other's products, and US President Donald Trump alleged China is meddling in the upcoming US 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, and described 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 Organisation.

"State-to-state relations must be based on credibility, not on wilful revocation of commitments," he said.

Trump has criticised China for not opening its markets and called such an approach unacceptable, despite often touting his good personal relations with Chinese President Xi Jinping.

Russia, which also has vigorously denied accusations of meddling in US elections, is due to speak later on Friday.


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Source: AAP



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