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China fears over Trump trade talk

Monday, November 14, 2016 - 01:47

China's leader has called U.S. President-elect Donald Trump to congratulate him on his win and affirm his commitment to the two countries cooperating on trade. Laura Frykberg reports.

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Throughout his campaign, Donald Trump talked tough on free trade. Blaming it for domestic unemployment, and China's economic rise. Now he's won, Beijing has tried for direct diplomacy. Xi Jingping is said to have phoned the president-elect, and said the two countries must continue to work together. (SOUNDBITE) (Mandarin) CHINA'S STATE TELEVISION NEWS ANCHOR WEN JING SAYING: "China-U.S. cooperation has crucial opportunities and enormous potential. The two sides must strengthen coordination, promote economic development and global growth, expand all areas of exchange and cooperation, ensure people obtain more tangible benefits, and push for better development going forward." Among Trump's campaign calls, was to charge China to import to the U.S. That's an extra cost China won't want. Last month exports and imports fell more than expected. And analysts warn there's more trade friction ahead. (SOUNDBITE) (English) CMC MARKETS ANALYST, MICHAEL HEWSON, SAYING: "I think the checks and balances of the U.S. constitution will mitigate some of the downside of the risk of Mr Trump's policies, but it is in foreign policy I have particular concerns, and his rhetoric over trade policy, now he talks about renegotiating NAFTA, that may actually be a good thing, but the noise around it creates a little bit of risk aversion." Despite disappointing retail sales growth, China did have some positives. Property investment rose 13.4 percent last month from a year earlier And increased infrastructure spending boosted fixed-asset investment. Areas analysts say could even accelerate before the end of year.

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China fears over Trump trade talk

Monday, November 14, 2016 - 01:47