China's Trade Promises: Summary of NYT Article on Trade War

This document provides a summary of a New York Times article from March 24, 2019, detailing China's commitment to opening up its markets to international trade and competition in an effort to resolve the ongoing trade war with the United States. High-ranking Chinese economic policymakers have pledged to increase imports and attract more foreign investment, highlighting a new foreign investment law approved by the Chinese legislature. The article notes China's concern over its economic standing and the impact of the trade war on its private sector, referencing previous efforts to attract support from Wall Street. The summary also mentions concerns raised by Chinese officials and former American officials regarding the broader relationship between the United States and China, even if a trade deal is reached, and the potential for future criticism of the deal by Democratic candidates.

Running Head: SUMMARY CHINA NEWS ARTICLE 0
CHINA NEWS ARTICLE
System
4/26/2019

SUMMARY OF CHINA NEWS ARTICLE 1
On, March 24, 2019. in Beijing the top economic policy makers of China promised this
weekend that Beijing is now ready to open up to more new markets which are based on
international trade and competition and all of this is being done in order to end the million dollar
trade war with United States.
Some of the senior American officials are about to come to Beijing in the coming months
in order to wrap up the deal in Washington. The officials of China are nowadays more concerned
about losing the position of worlds no 2 economy instead of Trump administration.
In accumulation of a recent trade war that currently hit the exporter of the country, the
economy of China has been affected highly because of the private sector and the business
leaders, and has become more concerned and careful in the recent time about the new upcoming
investments.
China has always told this for years that they are ready to invite foreign competitors into
the market with slow progress and equal footing
Han Zhan one of those seven men who run the country as a member of a communist
party believes that China needs to increase its import on the while on the other hand Yi, Gang
the governor of central bank believes that China needs more of foreign investment.
Mr. Han, Mr. Yi and some of the other officials praised the new origin investment law
which was approved by the legislature of China on 15th march 2019; it is described to be as a
thought out decision as it will make the country more attractive Place to invest.
China had earlier made a similar offer in November 2017 when the President Trump
visited Beijing; Beijing made this struggle to attract supports from the Wall Street during the

SUMMARY OF CHINA NEWS ARTICLE 2
time of trade war, As China came up with a lot of new products and did not wanted U.S.A to be
more dependent on China.
China believes that it has to ramp more car exporters to its home market as they feel that
that it has gone slow since the last summer which has also impacted a lot of factories who are
operating on half capacity nowadays. China’s FAW group president Xi Goodhue; a huge
automaker, said at the forum that supplies and the automakers indirectly or directly employed
around 12 % of workforce of the country.
On Friday afternoon at a different meeting which was organized by the center for
globalization and China, a group of Beijing researchers, Chinese officials and former senior
Americans expressed their anxiety and fear about if the broad relationship between United States
and China can be quickly fixed if the trade deal was reached soon.
There is a very good chance that the democratic candidate which will be held in 2020,
while talking about foreign policy, will disparage trump for being too appeasing towards China,”
said by Former Treasury Secretary Lawrence H. Summers apart from this he also said that
"Change has taken place in china already”

SUMMARY OF CHINA NEWS ARTICLE 3
REFERENCES
The New York Times. (2019) China Pledges Openness in Hopes of Reaching a Trade Deal
retrieved from: https://www.nytimes.com/2019/03/24/business/China-trade-xi.html