Washington is trying to apply the Japanese formula in trade negotiations with Beijing. But it won’t work. China isn’t Japan.
Getty
China won’t accept an unfair and unequal trade deal, which will undermine its sovereignty.
That’s according to an OP-ED piece posted in Globaltimes on Sunday. “The US also reveals that the biggest divergence between China and the US now is that the US will impose punitive tariffs on Chinese products any time it feels that China does not fully implement the agreement while China should not retaliate,” says the OPED. “China believes this is an intrusion on China’s sovereignty and has rejected the proposition.”
Financial markets may not like this development, when they open for trade on Monday. Especially, after being on the edge, following Friday’s weak US employment report.
The OP-ED comes after the two countries seem to have worked out all the essential differences and ready to sign an agreement.
