Sunday, 23 September, 2018

Theresa May warns China to play by worldwide rules

Reuters Reuters
Andrew Cummings | 31 January, 2018, 09:34

In an article for the Financial Times, she acknowledged that London and Beijing did not see "eye-to-eye" on a number of issues - and she promised to raise concerns from United Kingdom industry about the over-production of steel and the protection of intellectual property against piracy.

British Prime Minister Theresa May will hold talks with Premier Li Keqiang and President Xi Jinping on a wide range of issues, including her country's global trade links ahead of its departure from the European Union.

The visit comes amid doubts at home over the potential for deals with countries like China to replace economic growth lost due to Brexit, with leaked Government papers suggesting that the hit to GDP from European Union withdrawal will only be partially offset by any new trade elsewhere in the world.

British Prime Minister Theresa May on Wednesday defied critics calling for her to resign, saying she was not a quitter and that she has a long-term job to do: delivering Brexit and domestic reform. However, Theresa May said that the discussions will be an open occurrence and will be a frank affair on all the issues. The Mays will watch some traditional opera and President Xi Jinping and his wife, Madame Peng Liyuan, will host the couple for a tea ceremony during their trip.

Colossal trade opportunities prevail in China that would assist British businesses take benefit of. The prime minister chaired a meeting of her fractious Cabinet Tuesday morning before traveling to Heathrow for her flight to Wuhan - China's main university town.

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He said the PM should be able to "provide the people of Hong Kong with some assurance that our developing relationship with China, vital though it is, will not come at the cost of our obligations to them".

The visit comes at a testing time for the two countries.

She left no doubt that she wants to strike a formal free trade agreement with China after Brexit, but said there were steps which could be taken now to remove barriers to commerce.

Number 10 promised that Hong Kong human rights would be specifically discussed and that rights and freedoms there should be respected. China is reportedly fuming that May has refused to endorse the Belt and Road initiative, and several experts tell The Guardian that Brexit has "severely eroded both its negotiating position and its value to Beijing".

The business delegation list includes Pascal Soriot, chief executive officer of AstraZeneca; Mark E. Tucker, Chairman, HSBC Holdings plc; Ralf Speth, CEO, Jaguar Land Rover; Bill Winters, Group Chief Executive, Standard Chartered Bank; Gerry Grimstone, Chairman, Standard Life Aberdeen plc; and Nikhil Rathi, CEO, London Stock Exchange Group.

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