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 by Staff Writers Beijing (AFP) April 26, 2019
Chinese President Xi Jinping vowed Friday to abolish subsidies to firms that impede fair competition -- addressing a major bone of contention in US trade talks. Xi repeated past promises to lower tariffs, increase imports and open up more sectors of China's economy to foreign businesses. The pledge comes as top US negotiators prepare to travel to Beijing next week for a new round of talks aimed at resolving a months-long trade war that has hit businesses with tariffs on hundreds of billions of dollars worth of products. One of the key US demands is an end to Chinese government subsidies to the country's companies. "We will overhaul and abolish unjustified regulations, subsidies and practices that impede fair competition and distort the market," Xi said at a summit on his Belt and Road global infrastructure project. "We will treat all companies, enterprises and business entities equally and foster an enabling business environment based on market operation and governed by law," he said. Xi reiterated that China would not engage in competitive devaluation of its yuan currency -- another cause of US anger.
Thai Navy to remove bitcoin-rich couple's sea home Bangkok (AFP) April 20, 2019 The Thai Navy will begin removing a "seastead" home built by an American bitcoin investor and his partner off the coast of Thailand, an official said Saturday, as the couple remain in hiding from charges accusing them of violating the country's sovereignty. Chad Elwartowski and his Thai girlfriend Supranee Thepdet, known as "Bitcoin Girl Thailand", are facing charges of threatening the kingdom's independence after authorities found their ocean-based home about 12 nautical miles from Phuket's shore. ... read more
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