The prospects of a trade war between China and the western economies ratcheted up on Sunday as Beijing accused the US of pushing relations towards a “new cold war”. “China has no intention to change, still less replace the United States,” China’s foreign minister, Wang Yi, said on Sunday in the latest escalation in tensions between the world’s two largest economies. “It’s time for the United States to give up its wishful thinking of changing China and stopping 1.4 billion people in their historic march toward modernisation.” He said US political attacks on China over the coronavirus and global trade matters “are taking China-US relations hostage and pushing our two countries to the brink of a new cold war”. Relations between the UK and the US have also soured as a string of Conservative politicians pressed on Sunday for tighter controls to protect struggling UK companies from Chinese takeovers, and the UK announced an emergency review of the deal to allow the Chinese telecoms firm Huawei to help run the forthcoming 5G mobile network. Britain’s National Cyber Security Centre is expected to conclude that recently announced US sanctions against Huawei will make it impossible to use the Chinese company’s technology… Read full this story
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