Xi Jinping, Donald Trump oversee signing of US$253 billion in trade deals

[onebyone]

Long list of agreements ranges from shale gas to car parts and includes China Petroleum and Chemical’s US$43 billion Alaskan natural gas exploration contract

Chinese President Xi Jinping and his US counterpart Donald Trump witnessed the signing of deals worth US$253 billion on Thursday, making the US head of state’s visit to China one of the most fruitful for Chinese and US businesses in terms of the value of agreements struck.

It also showed Beijing’s efforts to narrow its trade surplus with the United States and soothe Trump’s complaints about the two nations’ unbalanced trading relationship.

“The US really has to change its policy because we have gotten so far behind in trade with China and frankly with other countries,” Trump said in opening remarks broadcast live by state-run media. “We’ll make it fair.”

Among a long list of agreements ranging from shale gas to car parts, China Petroleum and Chemical Corp, the state energy group, signed a US$43 billion deal to jointly explore for natural gas with the US in Alaska. China’s sovereign wealth fund, China Investment Corp, will offer financial support. Bank of China, a Chinese state-owned bank, will help with finance, too.

Trump visit to China gets going with US$9bn in trade deals as Beijing hints there is more to come

Another state energy giant, China National Petroleum Corp, signed an initial agreement with Cheniere Energy over a “long-term supply contract” of liquefied natural gas.

Chinese phone makers Xiaomi, OPPO and Vivo will sign deals to buy products from US telecom mobile chip maker Qualcomm. US tech firm Broadcom made a US$105 billion takeover bid for Qualcomm earlier this month.

China’s Silk Road Fund, a unit under the People’s Bank of China to promote the Belt and Road international trade initiative, will set up a joint fund with the US.

China Investment Corp is to set up a joint fund with Goldman Sachs.

Other deals include Chinese purchases of planes from Boeing and imports of Tesla cars into China.

Trump gets red-carpet welcome in Beijing but tough tests ahead on trade and North Korea

China’s customs administration released figures on Tuesday showing a trade surplus of US$26.6 billion with the US in October alone.

http://www.scmp.com/news/china/dipl...-sign-trade-deals-worth-us280-billion-sources

 

[ashok321]

US$253 billion in trade deals

Above is almost a government of India yearly budget.

 

[Brainsucker]

Many people said that Trump is not a good president.... Well okay. But at least, he's a great businessman and good negotiator.

 

[shadows888]

What can we say. He's a deal maker.

 

[TaiShang]

China Petroleum and Chemical’s US$43 billion Alaskan natural gas exploration contract

Unpresidented.

Trump means business.

Drill, baby, drill

China’s Silk Road Fund, a unit under the People’s Bank of China to promote the Belt and Road international trade initiative, will set up a joint fund with the US.

So, US participates in China-led initiative? Washington Consensus is dead as stone.

India is left in the cold, perhaps.

Japan, I believe, has, unofficially, already joined.

 

[Clutch]

Over $250 Billion dollar deal means America is off of China's back with regards to OBOR and CPEC. There goes India's arm twist all they could offer is $250 billion dried stale chapathis .

 

[TaiShang]

Over $250 Billion dollar deal means America is off of China's back with regards to OBOR and CPEC. There goes India's arm twist all they could offer is $250 billion dried stale chapathis .

In fact, at least technically, the US is now part of the Belt and Road.

The BRI and its many parts, including the CPEC, had never been under threat, in fact.

The most important indirect impact should be seen in the South China Sea, which is, strategically, more important for China.

Nonetheless, India must be feeling quite left-behind now.

 

[AnnoyingOrange]

Over $250 Billion dollar deal means America is off of China's back with regards to OBOR and CPEC. There goes India's arm twist all they could offer is $250 billion dried stale chapathis .

Wait and watch... let hi land in US ... and watch him sing a different tune... He is a businessman... he does what suits business...

 

[Clutch]

Wait and watch... let hi land in US ... and watch him sing a different tune... He is a businessman... he does what suits business...

Money talks bullsh * t walks in this world.

 

[TaiShang]

Wait and watch... let hi land in US ... and watch him sing a different tune... He is a businessman... he does what suits business...

Might as well be the case. Especially the part I liked most, China Petroleum drilling in Alaska, will likely face lots of opposition.

Then the Boeing order will be trimmed.

Nevertheless, in US politics, reality means little. Image is everything. As long as it moves Trump's sails, we are fine

 

[Zsari]

Might as well be the case. Especially the part I liked most, China Petroleum drilling in Alaska, will likely face lots of opposition.

Then the Boeing order will be trimmed.

Nevertheless, in US politics, reality means little. Image is everything. As long as it moves Trump's sails, we are fine

Nothing like pitting the US business interest against its own political interest. For China, regardless whether these deal goes through or not, its a win either way.

 

[Sugarcane]

China’s Silk Road Fund, a unit under the People’s Bank of China to promote the Belt and Road international trade initiative, will set up a joint fund with the US

LOL @ Supa Pawa

 

[dy1022]

LOL @ Supa Pawa

Add 2012 would be much better !

 

[Menthol]

Trump may be is a good President and left USA with a great legacy.