PRESIDENT Xi JINPING Meets IMF President and New Economic Forum delegates


Chinese President Xi Jinping met with International Monetary Fund President Kristalina Georgieva and representatives from an international economic forum at the Great Hall of the People in Beijing on Friday.

During a meeting with representatives from the New Economy Forum , Xi said that China wants to work out an initial trade pact with the United States and has been trying to avoid a trade war, but is not afraid to retaliate when necessary.

Global financial markets retreated this week on fresh fears that the trade talks could flounder, with U.S. President Donald Trump expected to sign into law two bills backing protesters in the Chinese-ruled city of Hong Kong. 

Completion of a phase one deal could slide into next year, trade experts and people close to the White House have told Reuters, with Beijing asking for more extensive tariff rollbacks and Washington countering with increased demands of its own.