Editor in Chief: Moh. Reza Huwaida Wednesday, December 12th, 2018

China’s Premier Reassures Region on Growth, South China Sea

China’s Premier Reassures Region on Growth, South China Sea

SINGAPORE — China’s premier sought Tuesday to reassure its neighbors that Beijing will push ahead with reforms needed to support growth across the region and also keep the peace in contested waters in the South China Sea.
Premier Li Keqiang said his government will favor reforms in the world’s No. 2 economy over temporary boosts from economic stimulus as China copes with a gradual slowing of growth and a trade war with the United States.
China can energize its slowing economy by adjusting policies, such as streamlining procedures like business registrations, taxes and fees, Li said in a lecture on the sidelines of the annual summit of the Association of Southeast Asian Nations that brings together leaders from the U.S. and across the region.
“Despite the downward pressure, we will not resort to massive stimulus. We will make adjustments as appropriate. We want to energize the market, in particular, market entities, and we have the conditions to do that,” Li said in the wide-ranging speech that touched on China’s role in regional development.
Li said the government also will “crack down harshly” on businesses that infringe on patents and other intellectual property rights and engage in “other cheating activities.”
“China will not stop in its opening up. The door will only open wider and China will continue to deepen reform. Reform and opening up have brought China to where it is today,” Li added.
China and the U.S. are locked in a trade dispute over Washington’s complaints that China uses predatory tactics to acquire technologies that could undermine U.S. industrial leadership. The two countries have raised import duties on billions of dollars of each other’s goods, including soybeans, electric cars and whiskey. (AP)