Published On: Fri, Mar 30th, 2018

US being warned by China to not open Pandora box and unleashing trade ills across globe

China has waned United States about not opening the Pandora’s Box in regard to Sino-US trade dispute. This disturbance in trade can cause protectionist practices to insinuate around the globe.

US being warned by China to not open Pandora box and unleashing trade ills across globe

Earlier on Thursday, a Chinese official newspaper issued a statement by Chinese government that if the Trade conflict between USA and China escalates then China will reply so in even manner. China can easily target a wide variety of US business that can range from agriculture to aircrafts, autos, semi conductors and even services.

China’s anger is justifiable by the act that last week President Trump charged Chinese importers with a tariff of about 60 billion dollars.  China as a warning has replied that it can also answer in some manner by placing duties of about 3 billion dollars on US imports as well.

A commerce ministry of China’ spokesperson said to reporters that,

“the malicious practices from USA are like opening of Pandora Box which is bound to spread the virus of Trade Protectionism across the globe”.

China has made its remarks firm and serious regarding this incident even if Beijing only says that t is for negotiation and dialogue. The talk reports about this trade conflict are still in mix and reporters are still unclear to its full extent.

Also See:Amazon attacked by Trump on basis of not paying enough tax

Trump administration has accused the Chinese firms for theft of intellectual property along with forcing US firms to share their commercial secrets. All of these allegations have been denied by China.

On the other hand Chinese State Council has presented the statement on Monday that they will review handing of Chinese intellectual property to foreign investors. He review will be based on points either this handing over is a stake for national security or if core technological innovations are also handed over.

Further the council stated that from their own, government approval will be necessary for transfer of intellectual property regarding semi conductors, software and agriculture.

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