Published: Sat, June 08, 2019
Global News | By Blake Casey

Putin says US unilateralism hurts global trade, sows chaos

Putin says US unilateralism hurts global trade, sows chaos

Chinese leader Xi Jinping and Russia's President Vladimir Putin lashed out at American global economic dominance when they took to the stage together at Russia's premiere business forum on Friday.

Xi arrived in Moscow on Wednesday for a three-day visit with Putin and described the Russian president as his "best friend" during a meeting at the Kremlin.

"States which previously promoted free trade with honest and open competition have started speaking the language of trade wars and sanctions, of open economic raiding using arm-twisting and scare tactics, of eliminating competitors using so-called non-market methods", said Putin.

With China locked in a trade war with Washington and Russian Federation under Western sanctions, Xi and Putin complained of "inequalities" in the global economic system and vowed to pursue closer relations between their countries.

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China is racing to be a global leader in advanced wireless network. Xi said the US and China had "strong trade and investment connections".

The Chinese company has been accused by the United States, as well as a number of other countries, of allegedly stealing commercial information. "President Trump is my friend and I am convinced he is also not interested in this", Xi said in Chinese, interpreted into Russian and then translated into English by Reuters. In May, when the trade war between Washington and Beijing escalated, the Trump administration blacklisted Huawei, citing national security concerns.

Trump, who has touted his personal relationships with both Putin and Xi, has slapped punitive tariffs on China, which retaliated by imposing levies on USA imports. China retaliated with tariff hikes of its own.

Trump is due to meet with Xi at the G20 summit in Japan later this month.

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