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Xi's Swipes at Trump Show China Standing Its Ground in Trade War

  • China’s president hits back at ‘law of the jungle’ policies
  • Investors left underwhelmed as Beijing reveals little new
Bloomberg business news
Euben Paracuelles, chief Asian strategist at Nomura, discusses Chinese President Xi Jinping’s speech in Shanghai.(Source: Bloomberg)
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If Chinese President Xi Jinping is getting ready to make big concessions to the U.S., his much anticipated speech at a Shanghai trade fair didn’t show it.

Xi hit back against President Donald Trump’s “America First” policies Monday with some of his most pointed language yet, denouncing “law of the jungle” and “beggar-thy-neighbor” trade practices. At the same time, he didn’t outline any new proposals that would suggest he was prepared to meet Trump’s demands, such as halting forced technology transfers or rolling back support for state-owned enterprises. Stocks declined across Asia.