China Expects to be Treated Like an Equal Ahead of G20 Sit-down

With less than two days before a high-stakes meeting between President Donald Trump and Chinese President Xi Jinping, one of the key issues that will be discussed is getting a balanced deal.

China believes any new agreement will need to be evenhanded, while U.S. Trade Representative Robert Lighthizer told his Chinese counterparts that balance won’t happen, according to a person familiar with the matter.

The reason why the U.S. will not prioritize balance is because of China’s past trade transgressions. Among other things, China has been accused of stealing U.S. technology.

In a phone call Monday, Lighthizer dismissed China’s notion that any trade deal be “balanced,” citing the various violations of intellectual property that led to the current state of play, according to two people with knowledge of the call.

Lighthizer told Chinese Vice Premier Liu He no trade could be “balanced,” as Beijing was requesting, because of the country’s many prior intellectual property violations that led to the current state of play.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza