Asian shares drift lower as investors look towards today's resumption of China-US trade talks
US and China have slapped tariffs on hundreds of billions of dollars of goods since last year, hitting a slew of businesses ranging from manufacturers to farmers in both countries, with knock-on effects for other economies.
While US President Donald Trump has voiced hope that he could soon hold a signing ceremony with his Chinese counterpart Xi Jinping, negotiations have dragged on, suggesting substantial differences remain. And Trump suggested last week some of those tariffs should stay in place after a deal is reached to ensure China follows through.But Beijing has taken steps to address some US complaints. Earlier this month China's rubber-stamp parliament rushed through a law that seeks to protect foreign firms from the forced transfer of technology.
"Protection of intellectual property is not anti-Chinese. Stopping people from forcing transfer of technology is not anti-Chinese. In fact, the reformers would say it's pro-Chinese. It will help their economy, not hurt their economy," he added. When Li presented the government's 2019 policy plans earlier this month, he made no mention of its controversial Made in China 2025 industrial policy, which had called for Chinese firms to take control of many strategic industries.Still analysts say Beijing's push for self-reliance and indigenous innovation will continue in practice.
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