China's Xi Jinping seeks to reassure US on trade, security

Chinese President Xi Jinping has sought to reassure US officials that Beijing remains committed to financial reforms and an open economy.

Chinese President Xi Jinping, left, shakes hands with former Secretary of State and National Security Advisor Henry Kissinger

Chinese President Xi Jinping, left, shakes hands with former Secretary of State and National Security Advisor Henry Kissinger Source: AP

 

Chinese President Xi Jinping, facing a skeptical audience on the first day of his week-long visit to the United States, sought to reassure business and government officials over a long list of irritants between the countries, from economic reform to cyber attacks, to human rights and commercial theft.

Delivering a keynote address to some 650 business executives and other guests in Seattle, Xi touched on a litany of issues that have strained U.S.-China ties.

China will not manipulate its currency to boost exports and will never engage in commercial theft, he said, adding it will not discriminate against foreign businesses, will speed its market opening and will make efforts to improve human rights.

"If China and the US cooperate well, they can become a bedrock of global stability...," Xi said. "Should they enter into conflict or confrontation, it would lead to disaster for both countries and the world at large."

Despite his reassuring comments, however, Xi faces questions about actual government policies. He will likely be pressed for specifics as he meets this week with tech and other top business leaders before attending a black-tie state dinner at the White House hosted by President Barack Obama.

Xi completes his US visit with an address at the United Nations.

The United States will urge Xi to avoid "quick fixes" for its economy, such as devaluing its currency, to boost exports, White House chief economist Jason Furman told Reuters on Tuesday.

China's recent loosening of controls on the yuan currency "caused turmoil" in global financial markets and US officials plan to raise the issue of China's volatile stock market, Furman said.

Earlier, a crowd of about 100 people - both for and against Xi's presence - gathered peacefully outside the Westin hotel, where Xi delivered the speech to some 650 business executives and other guests.

Protesters included about two dozen representing Falun Gong, a religious group that says it is repressed in China. At the same time, well-wishers waved Chinese and US flags and large red signs that read "Hello President Xi" in Chinese characters.

The Chinese leader's visit to Seattle, which he called "America's gateway to Asia" in prepared remarks upon his arrival, comes at a delicate time in US-China relations. 


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Source: Reuters


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