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China Says Its 'Moderate' Defense Spending Rises Are No Threat

08 March 2018

Speaking at the event, hosted at the president's Mar-a-Lago estate, Trump waxed lyrical about ending the current two-term cutoff and allowing president's to hold the position for life following news his Chinese counterpart, Xi Jinping, had secured the elusive power for himself.

"China doesn't want a trade war with the United States", Zhang Yesui, spokesman for the National People's Congress, told a news conference on the eve of the rubber-stamp parliament's annual session.

"Well according to the constitution of the CPC there is no such provision that there shall be no more than two successive terms for the General Secretary or Chairman of the Central Military Commission (CMC) in the Constitution of the China", Zhang said. In the United States, a president can serve for a maximum of two four-year terms.

US Representative Ro Khanna, a Democrat, said on Twitter that "whether this was a joke or not, talking about being president for life like Xi Jinping is the most un-American sentiment expressed by an American president".

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The Chinese leader further said that measures will be taken to ensure that that the poor populations, including elderly people, people with disabilities and those diagnosed with serious diseases will receive the required medical assistance, Xinhua reported.

Li, the premier, made no mention of the constitutional change or the controversy surrounding it but promised progress on an array of politically challenging goals including the restructuring or bankruptcy of "zombie enterprises", or money-losing but politically favored companies that are kept afloat by loans from government banks.

"So many people have been leaving the White House".

Professor Steve Tsang of the School of Oriental and African Studies in London called it "unnecessary and unwise". Xi is nearing the end of his first term as president. "You know? Great intelligence agency there".

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European markets closed mostly lower: London's FTSE 0.1 per cent, Paris closed flat and Frankfurt was 0.3 per cent lower. On Tuesday, Powell gave an upbeat view on the USA economy and said data had strengthened his confidence on inflation.

A work report delivered by Premier Li Keqiang was also heard at the meeting.

The finance ministry a year ago said the defense budget would top 1 trillion yuan ($145 billion) for the first time, after the exact figure was initially kept out of public documents released at the start of the annual legislative sessions. "Over the past five years, thanks to the joint efforts from all parties, this initiative is being turned into actions from a concept, and it is being translated into reality from a vision", he said.

Mr Li set new targets, with gross domestic product growth set at around 6.5 per cent - after last year's 6.9 per cent - as the country aims for high-quality growth over the high-speed growth of yesteryear.

The cuts had no impact on economic growth in 2017. This included boosting employment and increasing the people's income, providing "fair, high-quality" education, improving public healthcare and addressing the people's housing needs by rejuvenating rundown urban areas and providing ample and affordable housing.

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China Says Its 'Moderate' Defense Spending Rises Are No Threat