Xi's diplomacy seen as boon to China, says Foreign Minister Wang

Chinese foreign minister Wang Yi issued a word of caution noting that breakthroughs on the North Korean nuclear issue had collapsed in the past

Chinese foreign minister Wang Yi issued a word of caution noting that breakthroughs on the North Korean nuclear issue had collapsed in the past

Visiting China in January, French President Emmanuel Macron said Belt and Road could not be "one-way".Speaking at a news conference on the sidelines of the annual meeting of parliament, Chinese Foreign Minister Wang Yi said the Belt and Road was a "sunshine initiative" that was open and for all to benefit from.

On Thursday, China posted data showing that its monthly surplus with the USA narrowed slightly in February to just below $21 billion from $21.9 billion in January, even as its wider surplus with the world widened on a 44.5% surge in Chinese exports.

Wang also defended Beijing's involvement in Africa, saying China was responding to the needs of its "African brothers and sisters", whose friendship with China was "unbreakable".

"Both foreign and domestic demand look healthy, though imports are not as robust as during the same period past year", said Julian Evans-Pritchard, of Capital Economics, in a report.

"The US is acting swiftly on Intellectual Property theft. We can not allow this to happen as it has for many years!" the president also tweeted on Wednesday.

Beijing has accused Mr Trump of threatening the global trade regulation system by taking action under U.S. law instead of through the World Trade Organisation.

On March 7, Trump once again pressed China on Twitter to "develop a plan for the year of a One Billion Dollar reduction in their massive Trade Deficit with the United States". "We must act soon!"

In the first month of the year, the USA trade gap rose five percent over an upward-revised December to $56.6 billion, its highest level since October of 2008, overshooting analyst expectations for only a two percent increase, according to the Commerce Department.

The tweet came at a time of rising global trade tensions, with the relationship between the world's two largest economies at the center.

While Beijing has launched warning shots - like trade investigations into USA goods such as sorghum, and hinted it could even take on soybeans, its largest U.S. import - officials have worked to find a peaceful resolution.

However, the vice president of China's Academy of Military Sciences, Lt. Gen. Peter Navarro, a stark critic of Beijing's trade practices and author of "Death by China", is viewed as a potential contender to succeed Mr. Cohn.

In Beijing, officials continue to search for a way out.

Wang pointed to what he said were several already very successful Belt and Road-linked projects, including building power plants in Pakistan and China's operation of Greece's largest port at Piraeus.

China's latest trade data released on Thursday showed its February exports up 44.5 per cent from a year earlier, beating market expectations, while imports grew 6.3 per cent.

The U.S. trade deficit rose in January to the highest level since October 2008, defying President Donald Trump's efforts to bring more balance to America's trade with the rest of the world.

But combined January-February trade data also showed a dramatic acceleration in export growth.

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