Tariff Hikes: China and Opening Ceremony

tariff hikes: These include the announcement of further measures in deepening and broadening China's reform and opening-up process, including widening market access for foreign investors and strengthening intellectual property IP protection, with China's huge domestic markets pledging to procure even more foreign goods, according to Global Times China. This is of course in stark contrast to US administration's frequent threats of tariff hikes to deter foreign goods. President Xi Jinping's speech at the opening ceremony echoed both the yearnings among many countries along the route of the Belt and Road Initiative BRI for two-way traffic in BRI dealings as well as the continuation of free trade. The vast China market is a most coveted one for countries with economies steeped in export of commodities and manufactured products. Similarly, the tightening of IP protection would spur further foreign direct investment FDI into China by the more advanced BRI countries, thereby realizing an open participation by all Belt and Road nations in each other's economies. So Xi's announcement of further opening-up of the Chinese economy for foreign goods and services is a most welcome move and is likely to uplift the economic performance of these countries. (news.financializer.com). As reported in the news.