China says Xi-Trump phone call ‘extremely positive’

China's economy is being damaged by its trade war with the US and a domestic debt cleanup

"Dollar moderation, the stabilising trade relationship between United States and China and more stimulus from Beijing will be the key ingredients to revive market confidence in Asia".

The U.S. president said Wednesday that he'd like to sit down and make a "fair deal" with China on trade that would eliminate the need for the massive tariffs he's put on the nation.

Xi was quoted by CCTV as saying after the call with Trump that the two leaders had hoped to expand trade cooperation.

It was "hard to know what Trump wants most from China" because of a fragmented administration that had yet to strike a balance among the priorities of various vested interest groups, he said.

Trump said on Twitter that trade discussions with China were "moving along nicely", and that he planned to meet Xi on the sidelines of a G20 summit, in Argentina, after the two had a "very good" phone discussion.

"Dollar moderation, the stabilising trade relationship between United States and China and more stimulus from Beijing will be the key ingredients to revive market confidence in Asia".

The US is preparing to announce by early December tariffs on all remaining Chinese imports if talks between Trump and Xi fail to ease the trade war, three people familiar with the matter said.

"What they've done to our country is take out anywhere from $300 billion to $500 billion a year".

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Xi told Chinese state media on Thursday that he was willing to meet Trump at the summit and hoped to promote a steady relationship.

Tu Xinquan, a trade expert at Beijing's University of International Business and Economics, said he was sceptical that the Trump administration was truly ready to deal, and that other factors, such as the mid-term congressional elections, could be driving statements from the administration.

"The best situation (from a Trump-Xi meeting) would be no further actions, temporarily".

Kudlow believes China is getting isolated in the ongoing trade war, as the United States, Japan, and the European Union officials met in September in NY on the sidelines of the U.N. General Assembly and reached a deal to tackle China's unfair trade practices.

The markets were already buoyant after Beijing said it would introduce measures to kickstart the stuttering economy following a string of weak data, including growth at its slowest pace in nine years during the third quarter.

"Frankly, the principal culprit is China", he said. Ten percent tariffs on US$200 billion in imports that took effect in September are due to increase to 25% on Jan 1.

The commodity has lost around 15 percent from four-year highs at the start of last month as Russian Federation and OPEC said they would bolster output and dealers grew concerned about the impact on demand from a trade war between China and the US.

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