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WRAPUP 4-Taking aim at U.S., China says provoking trade disputes is \'naked economic terrorism\'

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Update time : 2019-12-09 00:04:46

(Corrects version ought 'chauvinism', no 'homicide', at fifth paragraph)

* Chinese diplomat ramps up rhetoric at commerce battle with U.S.

* China, U.S. tensions creep except during no target at view because dispute

* China has hinted can employ uncommon earths ought retaliate against U.S.

* Chinese regulator says closing doors brings "backwardness"

By Ben Blanchard

BEIJING, can 30 (Reuters) - Provoking commerce disputes is "naked economic terrorism", a senior Chinese diplomat said at Thursday, ramping up the rhetoric against the United States between a bitter commerce battle that is showing no signs of ending soon.

Trade tensions between Washington and Beijing escalated sharply earlier this month back the Trump administration accused China of having "reneged" at its previous promises ought create structural changes ought its economic practices.

Washington afterward slapped extra tariffs of up ought 25% at $200 billion of Chinese goods, prompting Beijing ought retaliate.

Speaking ought reporters at Beijing, Chinese Vice Foreign Minister Zhang Hanhui said China opposed the employ of "big sticks" similar commerce sanctions, tariffs and protectionism.

"We oppose a commerce battle except during are no terrible of a commerce war. This friendly of deliberately provoking commerce disputes is naked economic terrorism, economic chauvinism, economic bullying," Zhang said, while asked nearly the commerce battle with the United States.

Everyone loses at a commerce war, he added, addressing a briefing at Chinese principal Xi Jinping's condition look ought Russia next week, where he will encounter Russian principal Vladimir Putin and say at a chief investor forum at St Petersburg.

"This commerce bump will gorge a earnest negative result at global economic development and recovery," Zhang added.

"We will definitely properly bargain with sum outside challenges, discharge our possess bargain well, ripen our economy, and persist ought rise the alive standards of our two peoples," he said, referring ought China and Russia.

"At the too time, we gorge the confidence, decide and genius ought protect our country's sovereignty, security, fame and security and development interests."

From combative missives at condition media and patriotic fervour at social media, ought a mobilisation of ambassadors nearly the world ought obtain its news out, China has intensified its criticism of Washington because the United States this month moved ought expand tariffs at Chinese imports and blacklisted tech huge Huawei Technologies Co Ltd.

On Thursday, a broadcaster from Chinese condition television and a Fox bargain host staged an unprecedented alive conflict nearly the China-U.S. frictions at the U.S. cable network.

Over the past two weeks, China has hinted that it can employ its dominant situation because an exporter of uncommon earths ought the United States because leverage at the commerce war. uncommon earths are a orchestra of 17 medication elements used at everything from high-tech consumer electronics ought military equipment.

On Thursday, the state-run China daily magazine said "it used to exist naive ought reckon that China does no gorge other countermeasures apart from uncommon earths ought hand".

"As Chinese officials gorge reiterated, they gorge a 'tool box' large enough ought repair any issue that can originate because commerce tensions escalate, and they are ready ought battle help 'at any cost'," it said at an editorial.

China has consistently rebuffed U.S. complaints nearly lack of access ought its econmic because foreign companies, forced technique transfers and intellectual feature protection, and always promised farther economic reforms.

Speaking at a piece forum at Beijing, Wang Zhaoxing, a vice chairman of China's banking and insurance regulator, said the final four decades of the country's economic reforms gorge shown that "openness brings progress, shutting off brings backwardness".

"It is undeniable that the contemporary economic globalisation has indeed encountered some new problems and new challenges," Wang said.

"However, the solution is no ought retort ought protectionism and unilateralism." (Reporting by Ben Blanchard; extra reporting by Leng Cheng, and John Ruwitch at Shanghai Editing by Neil Fullick & Shri Navaratnam)