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China says it does not want a trade war with the US

China says it does not want a trade war with the US

A reason behind China's reluctance to unveil the growth rate of its military budget this year is that it is trying to avoid the further spread of the "China threat theory", foreign affairs experts said. The annual meeting of the national legislature, which begins on Monday, will close March 20, said Zhang Yesui, spokesman for the National People's Congress.

The U.S. goods trade deficit with China reached a record $375 billion previous year, by far the largest the U.S. had with any country.

"The countries have reached consensus to tackle trade imbalances", said the source, who asked not to be named as he was not authorized to speak on the matter.

China will adhere to the path of "peaceful" development, Zhang said.

The defence budget of the U.S. which is the highest in the world amounted to $602.8 billion. While that's about one-quarter of USA outlays, the Stockholm International Peace Research Institute estimates that China's actual spending is about 55 percent more than the officially stated figures.

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More news: S.Korean president's special envoys to visit DPRK on March 5

"Revising the constitution is certainly a big event in the country´s political life and it is also a major legislative activity that will have wide-ranging implications". "Part of it has been to make up for past investment deficiencies, mostly on renewing equipment [and] improving material benefits for soldiers".

Zhang also denied that the multi-billion dollar Belt and Road Initiative (BRI) is China's geo-strategic tool, saying such a characterisation is a misinterpretation.

"This year marks the fifth anniversary of the Belt and Road Initiative proposed by Chinese President Xi Jinping".

India opposed the China-Pakistan Economic Corridor connecting China's Xinjiang with Gwadar as it passes through the Pakistan-occupied Kashmir.

Chinese politician Wang Yang, anticipated to succeed Yu Zhengsheng, the current chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), is expected to play an important role in embarking on economic propaganda targeting Taiwan, according to a Chinese-language Liberty Times report.

"We will focus our advice and efforts on the main issues in securing a decisive victory in building a moderately prosperous society in all respects and embarking on a journey to fully build a modern socialist China", Yu said.


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