China, U.S. share common interests on South China Sea issue: Xi

The agreement to clamp down on the theft of trade secrets doesn’t address the theft of national security information, such as the tens of millions of us federal personnel records that American lawmakers and some U.S. officials have said was engineered by Beijing.

Advertisement

“We should cooperate because cooperation will benefit both and confrontation will lead to losses on both sides”, Xi said through an interpreter at the press conference.

Still, Obama said the possibility of sanctions against individuals or entities remains on the table.

The sound development of both China and the United States is conducive to each other and the whole world, he noted, saying the two countries’ common interests go far beyond their differences.

“This announcement bolsters prospects for a universal, meaningful agreement in Paris this year“, said the spokesman for the secretary-general.

White House officials said the investment treaty was a “top economic priority” for the two nations.

The two men struck a serious, businesslike tone when they appeared later before reporters, showing little sign of close personal rapport.

Xi was introduced by legendary U.S. diplomat Henry Kissinger, who made the first secretive effort in 1971 to restore long-broken relations with China and who praised Xi as the man able to take the relationship to a new level.

President Obama and Chinese President Xi Jinping jointly announced Friday a broad agreement on cybersecurity terms between their nations, including unexpected considerations focused on protecting intellectual property. The system will set an annual limit of greenhouse gas emissions by companies and allow them to trade their pollution permits with one another.

But disagreements on other issues still loomed.

“My state visit to the United States is unforgettable”, Xi said at the state dinner, adding that he deeply felt the American people, just like the Chinese people, have profound friendship to each other and have high expectation for China-U.S. cooperation.

“It’s not a big problem at all“, the leader in opinion polls for the Republican presidential nomination told a radio talk show host.

As the two leaders spoke, dozens of pro- and anti-Xi protesters gathered near the White House grounds, waving flags, beating drums and shouting slogans.

“That’s curious to me, because I didn’t expect that, and I wonder what in Xi Jinping’s mind “militarisation” means”, said Bonnie Glaser, a China expert with the Centre for Strategic and worldwide Studies.

“China is not going to be the recipient of USA climate financing, which is how some of our friends on the Hill are painting it”, said Schmidt.

At a joint press conference following the talks, Obama warned the Chinese leader on the issue. Obama has faced calls from some Republican presidential candidates to scale back the grandeur of Xi’s visit, which included an Oval Office meeting, the joint news conference and a black-tie dinner.

For his part, Xi said that “islands in the South China Sea since ancient times are China’s territory”.

Advertisement

Both presidents shook hands along the rope line, as children waved USA and Chinese flags. On Friday, however, the menu appeared largely American, including poached Maine lobster and Colorado lamb. It was evident that he tried to use the deal as leverage for wooing and winning over the US business community.

Barack Obama Xi Jinping Michelle Obama Peng Liyuan