Daily Management Review

Boeing & Airbus Hope To See An End For Sino-China Trade War Soon


11/06/2018




Boeing & Airbus Hope To See An End For Sino-China Trade War Soon
Boeing and Airbus, the largest aircraft makers in the world have indicated that they seek an end to the escalating trade war between the US and China soon while they participated in the largest trade show of China.
 
The comments were made by Boeing and Airbus on the opening day of the biennial Airshow China.
 
In recent years, there has been a huge surge in the Chinese aviation industry with number of flyers spiralling and this has made the country a hot bed for deals for foreign aviation firms. However, the aim of China to develop its own aviation industry and large aviation companies has complicated the issue for foreign plane makers.
 
The aim of China to acquire technology as soon as it can has effectively strained its relationship with the US.  The Trump administration has been very critical of the alleged stealing of intellectual property of US companies by Chinese firms in the name of joint ventures as well as the widening trade deficit between the two countries. Beijing has denied the allegations made by the US. As a result the two countries have entangled themselves entangled in a trade war that is escalating with both the countries having imposed import tariffs on each others’ goods worth billions of dollars.
 
Despite the fact that Boeing, one of the largest exporter to China in terms of value, has so far managed to avoid the tariffs imposed by China, here are many who are still waiting to see the impact of Chinese tariffs on US companies such as Boeing.
 
The European plane maker did not expect a large sales downfall from the tensions, said George Xu, the top China executive at Boeing's biggest rival Airbus , at a news conference.
 
"I am Chinese and we don't like this kind of trade war," he said. "Nobody will be the winner in this kind of trade war."
 
According to industry sources, negotiations between Airbus and China apparently seems to have come to a standstill even as the European plane maker had been hoping to conclude a deal for 184 aircraft during a trip to China by French President Emmanuel Macron in January.
 
China was a rapidly growing aviation market and that he believed Washington and Beijing understood that, said Boeing's senior vice-president of Northeast Asia sales, Rick Anderson.
 
"We continue to engage with leaders of United States and China, and continue to urge productive conversation to resolve the trade discrepancies," he said.
 
"We are optimistic for a quick solution."
 
There appears to be some thawing in the relationship between the US and China following a phone call between US President Donald Trump and CXhinese President Xi Jinping last week.
 
The two countries have also announced that they will hold a delayed top-level security dialogue on Friday.
 
(Source:www.channelnewsasia.com)






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