25 C
New Delhi
Sunday 31 May 2020

‘China stole US intellectual property to emerge as military power’

This statement from US President Donald Trump comes in the wake of China increasing its military spending by 7% to $ 152 billion to deal with an increasing American presence in the disputed South China Sea region

Washington, DC: US President Donald Trump has expressed concern over China’s growing military strength and said that this ‘leftist’ country is a threat to the world. He blamed also his predecessors for not stopping China from stealing America’s intellectual property, through which India’s northern neighbour strengthened its defence capabilities.

China has increased military spending by 7% to $ 152 billion. This is in keeping with its aim to deal with increasing US pressure in the disputed South China Sea.

‘China using our money’

“Obviously, China is a threat to the world in a sense because they are building a military faster than anybody and frankly they are using US money,” Trump told journalists on Friday. Australian Prime Minister Scott Morrison was present with Trump during the media interaction.

Trump said that the American presidents before him allowed China to raise $ 500 billion or more every year.

‘They stole our intellectual property’

President Trump said, “They have allowed China to steal our intellectual property and property rights and I’m not doing that.”

According to the US president, the two countries were very close to executing a trade deal. Referring to the abrupt termination of the trade deal with China earlier this year, he alleged, “We work very closely, had intellectual property, all of the tough things work negotiated and then at the last moment, they said we cannot agree to this.”

“I said that’s all right we are charging you 25% tariffs and then it’s going up and it will continue to go up. Frankly, we are making so many hundreds of the numbers that we are taking into our treasury… Look at the great reports that came out two days ago on retailing, on consumers, on numbers that nobody believes,” Trump added.

Trump digresses to commerce

However, as Trump spoke on, he dealt less with the issue of China as a military power and went on and on about the US-China trade relations. “We are taking hundreds of millions potentially over a short period of time, hundreds of billions of dollars worth of money is coming in from China that never came in before so China wants to make a deal, I think we want to make a deal,” he said.

“We will see what happens, but I view China in many different ways, but right now I am thinking about trade. But you know trade equals military because if we allow China to take $ 500 billion out of the hide of the United States that money goes into military and other things,” said the US president.

Donald Trump said, “They’re having a bad year. The worst year in 57 years! Their tariffs aren’t coming into us. We’re taking in billions and billions of dollars of tariffs. They are devaluing their currency, which means the tariffs are not costing us probably anything, but certainly not very much. They’re also adding a lot of money into their economy. They’re pouring money into their economy but were taking in many billions of dollars,” Trump said.

“At some point in the not-too-distant future, it’ll be over $ 100 billion. We’ve never taken in 100 cents from China. It was always the other way around. With that, they lost over 3 million jobs there. The supply chain is crashing, and they have a lot of problems. And want to make a deal. So, we’ll see what happens,” Donald Trump said.

Australian PM bats for good relations with China

On the other hand, Australian Prime Minister Scott Morrison, who is on a US tour, presented a different view on China. Morrison said Australia was keen on seeing America and China settle their trade dispute that has had an adverse impact on global growth.

Morrison added that Trump was attempting to safeguard important principles. He said the US president was setting new benchmarks that would ultimately “put global trade on a stronger footing”.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

For fearless journalism

%d bloggers like this: