China says it wants ‘calm’ resolution to US trade war

– China is willing to resolve its trade dispute with the United States through “calm” negotiations and resolutely opposes the escalation of the conflict, Vice Premier Liu He, who has been leading the talks with Washington, said Monday.The increasingly bitter trade war between the world’s two largest economies sharply escalated on Friday, with both sides leveling more tariffs on each other’s exports.

“We believe that the escalation of the trade war is not beneficial for China, the United States, nor to the interests of the people of the world,” added Liu, who is President Xi Jinping’s top economic adviser.“We welcome enterprises from all over the world, including the United States, to invest and operate in China,” he added.

Global stock markets reeled on Monday after the latest measures, while China’s yuan currency fell to a fresh 11-year low. Investors streamed into the safe harbors of sovereign bonds and gold.The official China Daily said in an editorial that Washington would “never be allowed to control China’s fate.”

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