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Quote of the week

“There is a view in the U.S. that so long as the U.S. keeps increasing tariffs, China will back down. They don’t know the history and culture of China. This unyielding nation suffered foreign bullying for many times in history, but never succumbed to it even in the most difficult conditions. China doesn’t want a trade war, but would rise up to it should it break out. The U.S. should not underestimate China’s resolve and will. I want to emphasize that China’s laws and regulations do not contain any requirement for technology transfer and that companies’ purchases of technologies and patents are pure market behavior. China’s economic development, and science and technological progress are owed to reform and opening up and the endeavors of the Chinese people.” (Zhong Shan, China’s Minister of Commerce, quoted in the South China Morning Post, October 10, 2018.)



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