SEC Denies A Second Application To List Bitcoin Product

(THIS ARTICLE IS COURTESY OF REUTERS NEWS AGENCY)

SEC denies a second application to list bitcoin product

By Trevor Hunnicutt | NEW YORK

The U.S. Securities and Exchange Commission on Tuesday denied for the second time this month a request to bring to market a first-of-its-kind product tracking bitcoin, the digital currency.

The SEC announced in a filing its decision denying Intercontinental Exchange Inc’s NYSE Arca exchange the ability to list and trade the SolidX Bitcoin Trust, an exchange-traded product (ETP) that would trade like a stock and track the digital asset’s price. Previously, the regulatory agency said it had concerns with a similar proposal by investors Cameron Winklevoss and Tyler Winklevoss.

“The Commission believes that the significant markets for bitcoin are unregulated,” the SEC said in its filing, echoing language from its decision earlier this month on the application by CBOE Holdings Inc’s Bats exchange to list The Bitcoin ETF proposed by the Winklevoss brothers. On Friday, Bats asked the SEC to review its decision not to allow that fund to trade.

“We are reviewing the SEC’s order and evaluating our next steps,” said Daniel H. Gallancy, chief executive officer of SolidX Partners Inc, a U.S. technology company that provides blockchain services. NYSE did not immediately respond to a request for comment.

Bitcoin had scaled to a record of more than $1,300 this month, higher than the price of an ounce of gold, as investors speculated that an ETF holding the digital currency could woo more people into buying the asset.

But after denial of the Winklevoss-proposed ETF, the digital currency’s price plunged as much as 18 percent. It has rebounded partially since then and was at $1,041 on Tuesday, roughly unchanged from the previous day.

Bitcoin is a virtual currency that can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government.

Yet bitcoin presents a new set of risks to investors given its limited adoption, a number of massive cybersecurity breaches affecting bitcoin owners and the lack of consistent treatment of the assets by governments.

There is one remaining bitcoin ETP proposal awaiting a verdict from the SEC. Grayscale Investments LLC’s Bitcoin Investment Trust, backed by early bitcoin advocate Barry Silbert and his Digital Currency Group, filed an application last year.

(Reporting by Trevor Hunnicutt; Additional reporting by Gertrude Chavez-Dreyfuss; Editing by David Gregorio and Cynthia Osterman)

Cyclone Debbie Category 3 Cyclone To Land In Northeastern Australia

(THIS ARTICLE IS COURTESY OF CNN)

(CNN) Thousands of residents in Queensland, in northeastern Australia, have been ordered to leave their homes as severe Tropical Cyclone Debbie approaches, bringing with it powerful winds and heavy rain.

The storm continued to intensify as it approached landfall, becoming a Category 3 cyclone, according to the Joint Typhoon Warning Center. It’s expected to make landfall near the town of Ayr late Tuesday morning, according to the Australian Bureau of Meteorology.
Cyclone Debbie is forecast to pack gusts of up to 150 mph (240 kph), as well as flash flooding and storm surges as high as four meters.
Queensland Premier Annastacia Palaszczuk said that 3,500 residents had already been evacuated.
An additional 2,000 people have been ordered to evacuate in the Bowen area, as the cyclone has tracked farther south than originally predicted, she added.

Officials predict cyclone will be ‘nasty’

Some residents are refusing to leave their home, Palaszczuk said, with police going door to door in a final attempt to get people to safety.
“This is going to be a nasty cyclone,” Palaszczuk told reporters on Monday morning.
“There is no time for complacency … the window of opportunity to leave is drastically closing,” she said. “I am just pleading to everyone, please, listen to authorities. This is about your safety, it is about the safety of your family and the safety of your children.”
Cyclone Debbie is the largest storm to hit Queensland since the Category 5 cyclone Yasi in 2011, which ripped homes from their foundations and destroyed farmland. Debbie could end up being as severe as Yasi, Palaszczuk warned.

Storm surge

U.S. needs to stop Russian electoral interference, NSA’s top civilian leader says

(THIS ARTICLE IS COURTESY OF THE WASHINGTON POST)

U.S. needs to stop Russian electoral interference, NSA’s top civilian leader says

March 25 at 6:48 PM
The U.S. government has not figured out how to deter the Russians from meddling in democratic processes, and stopping their interference in elections, both here and in Europe, is a pressing problem, the top civilian leader of the National Security Agency said.The NSA was among the intelligence agencies that concluded that Russian President Vladi­mir Putin ordered a cyber-enabled influence campaign in 2016 aimed at undermining confidence in the election, harming Democratic nominee Hillary Clinton and helping elect GOP nominee Donald Trump.“This is a challenge to the foundations of our democracy,” said NSA Deputy Director Richard Ledgett, 58, who is retiring at the end of April, in an interview at Fort Meade, Md., the agency’s headquarters. “It’s the sanctity of our process, of evaluating and looking at candidates, and having accurate information about the candidates. So the idea that another nation-state is [interfering with that] is a pretty big deal and something we need to figure out. How do we counter that? How do we identify that it’s happening — in real-time as opposed to after the fact? And what do we do as a nation to make it stop?”The lack of answers, he said, “as an American citizen . . . gives me a lot of heartburn.”

Ledgett, known as a straight-shooting, unflappable intelligence professional, began his NSA career in 1988 teaching cryptanalysis — how to crack codes — and rose to become the agency’s top civilian leader . The NSA, with 35,000 civilian and military employees, gathers intelligence on foreign targets overseas through wiretaps and increasingly by cyberhacking. Its other mission is to secure the government computers that handle classified information and other data critical to military and intelligence activities.

Asked whether the NSA had any inkling that the Kremlin was going to orchestrate the release of hacked Democratic National Committee emails last July, he demurred. “I actually don’t want to talk about that.”

At the same time, he said, what Moscow did was “no strategic surprise.” Rather, “what may have been a tactical surprise was that they would do it the way they did.”

Campaigns of propaganda and disinformation, dating back to the Soviet Union, have long been a staple of the Kremlin’s foreign policy. Now, however, it is making effective use of its hacking prowess to weaponize information and combine it with its influence operations, or what intelligence officials call “active measures.”

“In general, if you’re responding to nation-state actions like that, you have to find out what are the levers that will move the nation-state actors and are you able and willing to pull those levers?” said Ledgett when asked how the United States should respond.

The Obama administration slapped economic sanctions on two Russian spy agencies involved in hacking the DNC, three companies believed to have provided support for government cyber operations, and four Russian cyber officials. The administration also ordered 35 Russian operatives to leave the United States and shut down Russian-owned facilities on Maryland’s Eastern Shore and on Long Island believed to have been used for intelligence purposes.

Yet, intelligence officials including NSA Director Michael S. Rogers and FBI Director James B. Comey said on Monday that they believe Moscow will strike again — in 2020, if not in 2018.

So should the government mull other options, such as hacking Russian officials’ emails or financial records and releasing them in a bid to embarrass or show corruption? “I think every element of national power is something we should consider,” he said. “That would probably fall under something like a covert action. But if that’s the right answer, that’s the right answer.”

Ledgett is probably most well-known for leading the agency task force that handled the fallout from the leaks of classified information by former NSA contractor Edward Snowden in 2013. The disclosures prompted a national and global debate about the proper scope of government surveillance and led Congress to pass some reforms, including the outlawing of bulk collection of Americans’ phone metadata.

But the disclosures also caused great upheaval in NSA’s collection efforts, hurt morale, and damaged relations with allies and with tech firms that enable court-ordered surveillance, Ledgett said. “It was a terrible time for the agency,” he said.

He oversaw the probe of the internal breach; relations with Congress, the White House, foreign governments and the press; and the effort to prevent a recurrence. “There was a bit of a narrative on the outside about this evil agency that hoovered up all the communications in the world and rooted through them for things that were interesting, and that wasn’t actually true.”

The operational hit was significant, he said. More than 1,000 foreign targets — whether a person or a group or an organization — altered or attempted to alter their means of communications as a result of the disclosures, he said. They “tried with varying degrees of success to remove themselves from our ability to see what they were doing,” he said.

The agency, which has some 200 stations worldwide, reworked capabilities including virtually all of its hacking tools. “In some cases, we had to do things very differently” to gather the same foreign intelligence as before.

Raj De, a former NSA general counsel, said Ledgett was relied on heavily by both Rogers and Rogers’s predecessor, Keith B. Alexander. “He has really been a source of steadiness for the agency,” said De, now head of the Cybersecurity & Data Privacy practice at Mayer Brown, a global law firm. “What is particularly notable about Rick is his willingness to engage with all types of people, to keep an open mind.”

In December 2013, Alexander, when he was the NSA director, said that Snowden should be given no amnesty. But Ledgett told CBS’s “60 Minutes” then that “my personal view is yes, it’s worth having a conversation about.”

In his interview earlier this week, however, he said what he meant was that by engaging Snowden in conversation, the agency might have been able to learn what material had not been released and where it was.

Today, he said, there is no longer any need to talk to Snowden. “He’s past his usefulness to us.” Snowden, who is living in Moscow under a grant of asylum, has been charged with violating the Espionage Act, and Ledgett said he should not be pardoned. “I’ve always been of the idea that ‘Hey, I think he needs to face the music for what he did.’ ”

Julie Tate contributed to this report.

Erdogan Says Turkey May Hold Referendum On EU Accession Bid

(THIS ARTICLE IS COURTESY OF REUTERS NEWS AGENCY) 

Erdogan says Turkey may hold referendum on EU accession bid

President Tayyip Erdogan said on Saturday that Turkey may hold a second referendum on whether to continue with European Union accession talks following a planned vote on April 16 that could give him sweeping new powers.

“Right now we are holding a referendum on April 16 and after that we could choose to do a second one on the (EU) accession talks and we would abide by whatever our people would say there,” Erdogan told a forum in the southern city of Antalya.

Turkey began EU accession talks in 2005 but they have moved very slowly due to disagreements over Cyprus, human rights and other issues. Relations between Ankara and Brussels have become particularly strained in recent months.

(Reporting by Humeyra Pamuk; Editing by Gareth Jones)

Schiff: ‘More Than Circumstantial Evidence’ Trump Associates Colluded With Russia

(THIS ARTICLE IS COURTESY OF NBC NEWS)

MAR 22 2017, 10:20 PM ET

Schiff: ‘More Than Circumstantial Evidence’ Trump Associates Colluded With Russia

WASHINGTON — The top Democrat on the House Intelligence Committee claimed Wednesday evening that he has seen “more than circumstantial evidence” that associates of President Donald Trump colluded with Russia while the Kremlin attempted to interfere with the 2016 presidential election.

Rep. Adam Schiff, D-Calif., the Ranking Member on the committee, was asked by Chuck Todd on “Meet The Press Daily” whether or not he only has a circumstantial case.

“Actually no, Chuck,” he said. “I can tell you that the case is more than that and I can’t go into the particulars, but there is more than circumstantial evidence now.”

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House Intel Cmte. Creates Confusion As Chairman Releases Trump Details 1:59

Questioned whether or not he has seen direct evidence of collusion, Schiff responded, “I don’t want to get into specifics but I will say that there is evidence that is not circumstantial and is very much worthy of an investigation.”

That is a shift from Sunday’s “Meet the Press” interview, when Schiff only went as far as to say that there was circumstantial evidence of collusion and “direct evidence” of deception.

.@RepAdamSchiff on Trump/Russia connection: “There is more than circumstantial evidence now…and is very much worthy of investigation.”

The Trump campaign and the White House have repeatedly denied that Trump’s associates were at all connected to any activities related to Russia’s attempts to influence the last election.

Schiff’s comments came after Republican committee chair Devin Nunes said that he had seen reports from the U.S. intelligence community showing communication from members of the transition team — and possibly the president himself — were “incidentally collected” as part of a broader surveillance effort.

Nunes said it appeared most of the information was collected after the election and during the transition, it appears it was collected legally, and none of it was related to Russia or the investigation into Russia. He said he did not know who ordered the alleged surveillance.

The disclosure drew condemnation from some Democrats. Schiff bristled at the fact that Nunes did not share the information with him before updating reporters and the White House.

“The chairman will need to decide whether he is the chairman of an independent investigation into conduct, which includes allegations of potential coordination between the Trump campaign and the Russians, or he’s going to act as a surrogate of the White House. Because he cannot do both,” Schiff said.

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Full Interview: Schiff on His Confidence in House Intel Committee 8:40

Nunes said at a press conference that “the intelligence community incidentally collected information about American citizens involved in the Trump transition.”

“From what I know right now it looks like incidental collection, we don’t know exactly how that was picked up, but we’re are trying to get to the bottom of it,” Nunes said.

Trump said he felt somewhat vindicated by Nunes’ disclosure: “I somewhat do. I very much appreciated the fact that they found what they found,” the president said.

Nunes said he has not seen any evidence that former President Barack Obama had Trump’s “wires tapped” before the election — a claim Trump made on Twitter. The director of the FBI said Monday he has no evidence backing up the tweeted claim.

Senate Intelligence Committee Vice Chairman Mark Warner, D-Virginia, said he was “absolutely mystified by Chairman Nunes’ actions,” and the decision to brief Trump on the information “seems pretty inappropriate to me.”

Republican Sen. John McCain, R-Arizona, told MSNBC’s Greta Van Susteren that the back-and-forth among the top members of the committee was “bizarre” and he said partisan fighting had cost Congress its credibility to investigate Russian interference the election.

“No longer does the Congress have credibility to handle this alone, and I don’t say that lightly,” McCain, the chairman of the Senate Armed Services Committee, said.

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McCain: Select Committee On Russia Now A ‘Requirement’10:36

On Monday, FBI Director James Comey confirmed that an investigation into the Trump campaign’s ties to Russia had been ongoing since July. Comey said the probe was included in the agency’s investigation into what the U.S. intelligence community concluded was an attempt by Russia to interfere with the 2016 election with the purpose of helping Trump win.

The House and Senate Intelligence Committees are conducting their own investigations.

Two weeks ago on “Meet The Press,” James Clapper, the former Director of National Intelligence under President Obama, said that to his knowledge, there was no evidence of collusion between Moscow and Trump associates. Clapper oversaw the work of U.S. intelligence agencies through January 20th.

On Wednesday, Schiff told Todd of Clapper’s statements, “All I can tell you is reviewing the evidence that I have, I don’t think you can conclude that at all — far from it.”

Hate: Is It Ignorance Being Fulfilled?

 

This afternoon in London England there was another ‘terrorist incident’, this time just outside the entrance to their Parliament Building. The last I heard before I started this commentary there are four dead and about 20 wounded. One of the dead is the attacker, another is a Police Officer.  The other two dead people were killed by being driven over by the attacker. What a typical  example of ones hate being forced upon others lives. Folks, when a person chooses to murder someone, do you think they are doing this because they are ‘happy’ with the one they decide to kill? I tend to think, no, how about you? Killing other people, outside of contract obligations such as when you are in your Nation’s Military, or in the case of self-defence, murder is usually done through or because of hate. So, today the actions of one man ended the lives of three others and harmed and scarred many others. One man’s actions caused a lot of chain reactions not just in heroic goodness of some, but in the actions of the Press there in London informing we the people of the events, step by step. Yes they did a rather good job of informing me of the steps that (England’s) has in place that security protocol is designed to function within. In this case a person filled with hate could best figure out where to form a multi-tiered attack. Think of the pure hate concept of bringing an ambulance to a bomb or mass shooting location, filled with C-4 just so you can kill as many First Responders as you possibly can. Folks, this is not the way of a rational mind, nor of a God! It is not a mind filled with any form of morality, it is a mind filled with Evil, hate. When we humans decide to degrade other human beings to a ‘less than’ human status it becomes easier and easier to degrade, hurt or even kill them.

 

Friends this type of hate that we witnessed this afternoon in London is not just a hiccup in human history that we are living in, this is the reality for humans for ever more. Europe is being forced to deal with this hatred toward their own people and toward their own cultures. Here in the U.S. we have suffered several examples of hatred also toward our people and our chosen ways of life. Yet Europe and her people are a tender underbelly to a region full of hatred, for you and your way of life. I believe that the U.S. and all of the ‘America’s’ are just starting to see the damage caused by hatred. The olden days (our version of the good old days), they’re gone, they are not going to return, but why not? The answer is hatred folks. Hatred has a great helpmate which also causes so much heartache and that is ignorance. No one on this planet will ever have a totally unmonitored lifestyle again, nor will we ever be free of people hating you/us. Welcome to the new world everyone, the one filled with unending security measures brought on because of threats that are real or imagined. You see, fear caused by hatred can easily be  duplicated in the one who fears as a way to grow into another hate filled, ignorant, Satan serving beast. A person who is hate filled creates and early grave for themselves and those around them, and a footstool in Hell.

AG Jeff Sessions Lays Out Priorities To Optimistic Police Groups

(THIS ARTICLE IS COURTESY OF NBC NEWS)

MAR 15 2017, 6:17 AM ET

AG Jeff Sessions Lays Out Priorities to Optimistic Police Groups

In five weeks as attorney general, Jeff Sessions has taken fire for his testimony about past meetings with Russia’s ambassador and been criticized for the abrupt removal of dozens of politically appointed U.S. attorneys around the country.

But Sessions is getting a much warmer welcome among the nation’s law enforcement community, which has largely embraced his plan to prosecute more drug and gun cases, crack down on immigration offenses and ease up on suing local police departments accused of violating minorities’ civil rights.

Sessions will further explain his plans to realign the Justice Department’s priorities on Wednesday, when he addresses a gathering of federal, state and local law enforcement officers in Richmond, Virginia. He can expect an enthusiastic response.

“Happily for us, on vast majority of issues, we’re on the same page,” said James Pasco, a senior adviser at the Fraternal Order of Police.

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FEB. 28: Sessions: ‘We Don’t Need To Be Legalizing Marijuana’ 1:15

The Justice Department wouldn’t comment on what Sessions will say in Richmond. But a spokesman said his remarks will expand on a number of his recent actions, including a memo ordering a crackdown on violent crime and a speech that warned that a recent uptick in crime was “the beginning of a trend” that requires a “return to the ideas” that cut lawbreaking to historic lows since the 1990s.

Related: AG Sessions Says DOJ to ‘Pull Back’ on Police Department Civil Rights Suits

In that Feb. 28 speech to state attorneys general, Sessions blamed Mexican drug cartels for a record spike in heroin overdoses and suggested that he would reverse Obama administration policies that sought to reduce the prosecutions of low-level, nonviolent drug offenders on charges that carried mandatory minimum prison sentences.

Sessions said in the speech that from 2010 to 2015, the number of gun and drug prosecutions had dropped. “This trend will end,” he said.

Sessions, a Republican former U.S. senator and federal prosecutor from Alabama, also signaled a new approach toward police departments accused of discriminatory policing. He said that rather than “spending scarce federal resources to sue them in court,” federal money would be better used going after criminals.

Related: Trump Orders Crackdown on Drug Trafficking and Anti-Cop Violence

Michael Ramos, president of the National District Attorneys Association, said it was refreshing to hear Sessions promise to “get back to tough-on-crime.”

The Obama administration, Ramos said, went too far in seeking ways to reduce mandatory minimum sentences and get people out of prison. That lenience, he said, could be driving crime rates.

“We’ve gotten to a point where the pendulum is starting to swing back,” Ramos said.

Lawrence Leiser, vice president for policy at the National Association of Assistant United States Attorneys, said his organization opposed easing up on mandatory minimum sentencing and welcomed a return to earlier approaches.

He said he viewed Sessions’ take on law enforcement as “inspiring.”

Image: Attorney General Jeff Sessions speaks at a news conference in Washington
Attorney General Jeff Sessions speaks at a news conference at the Justice Department in Washington on March 2, 2017. Yuri Gripas / Reuters

“Assistant U.S. attorneys are encouraged by the attorney general’s approach to combating drug trafficking and violent crime by using all of the lawful tools that are currently available to prosecutors,” Leiser said.

Related: Trump Administration Tells Remaining U.S. Attorneys to Resign

That said, law enforcement officials cautioned that the Trump administration is only a couple months old, and Sessions had yet to articulate how the new priorities would be put in place.

Ronal Serpas, a former police superintendent in New Orleans and chairman of the group Law Enforcement Leaders to Reduce Crime and Incarceration, said he embraced Sessions’ focus on violent crime. But his group has also warned the administration against using jail and prison as the tools to attack crime more broadly.

Many nonviolent, first time offenders, particularly those suffering from mental illness or drug addiction, would be better served by alternatives, the group said in a set of recommendations for the new administration.

The group also urged Sessions to rethink his opposition to sentencing reform.

And it warned against rumored cuts to the Justice Department’s Office of Community Oriented Policing Services.

“I’d like to see the attorney general focus narrowly on the issue of violent gun and drug crime and not get distracted by the big sweeping arrests we had in the 1990s,” Serpas said. “I argued for those things back then. But I saw that those massive arrest strategies don’t work. There’s tremendous collateral damage.”

Thomas Manger, president of the Major Cities Chiefs Association, said he was encouraged by the mere fact that Sessions was speaking directly to local law enforcement agencies so early in his tenure.

That’s important to many police officials who saw the Obama administration as being too critical of police during a time of eroding trust between cops and the public, he said. Much of those problems have been driven by increased scrutiny of shootings by police and an uptick in attacks on officers.

“We’re just trying to get off on the right foot and help influence things in a direction where the big cities around this country are providing the best service we can,” Manger said.

China Will Be The Straw That Will Stir The World’s Economic Drink?

(THIS ARTICLE IS COURTESY OF THE SHANGHAI DAILY NEWS)

HOME » BUSINESS » FINANCE

Forum hears pledge of more effort to revitalize China’s real economy

CHINA will remain committed to ensuring innovation drives development and will increase efforts to revitalize the real economy, Vice Premier Zhang Gaoli said yesterday.

“The real economy is the foundation of economic growth and we will optimize it,” Zhang said at the opening ceremony of the China Development Forum 2017 in Beijing.

China will improve its capabilities in scientific innovation and boost the development of strategic emerging sectors and modern manufacturing while transforming traditional industries with new technology and business models, he said.

The government will continue to promote entrepreneurship and the “Internet Plus” plan to meet the diverse needs of the market and Chinese companies will be encouraged to use craftsmanship to establish competitive brands that can stand the test of time.

China will further reduce costs for enterprises by streamlining administration and pushing forward tax reforms, and prevention and control of financial risks will be elevated to a higher position on the government’s agenda, Zhang said, adding that China will manage risks in bad loans, bond default, property bubbles and Internet finance to avoid systemic financial risks.

To stimulate growth and improve market vitality, China should increase supply-side structural reform, Zhang said.

Highlighting the basic tone of “seeking progress while maintaining stability,” he underscored the need for efforts to maintain growth, ensure employment and counteract risks from home and abroad.

China will forge ahead with its supply-side reform, cutting steel production capacity by around 50 million tons and coal capacity by over 150 million tons this year, he said.

The country will prioritize de-stocking unsold houses in third and fourth-tier cities as it fights speculation in the housing market, he added.

Zhang restated China’s commitment to better air, water and soil quality.

The government will speed up the reform of state-owned enterprises, make concrete mixed-ownership reforms in sectors such as power, petroleum, railways, civil aviation and telecommunications and open the market to more private investment, Zhang said.

On the close ties between China and the world economy, he stressed the need to advance globalization and fight protectionism.

“China is willing to join efforts with the international community to steer the world economy toward strong, sustainable, balanced and inclusive growth,” he said.

The country will continue to implement its opening-up strategy and advance the Belt and Road Initiative, he added.

China will host the Belt and Road Forum for International Cooperation in May. Taking part in this “new chapter in win-win cooperation” will be more than 20 heads of state and government, more than 50 leaders of international organizations, more than 100 ministerial-level officials, and more than 1,200 delegates.

For China And The U.S. ‘Cooperation Is The Only Way Forward’

(THIS ARTICLE IS COURTESY OF THE SHANGHAI DAILY NEWS)

HOME » NATION

Cooperation the only way forward

COOPERATION is the only correct choice for China and the United States, President Xi Jinping told visiting US Secretary of State Rex Tillerson in Beijing yesterday.

There are important development opportunities resulting from China-US relations, said Xi during the meeting in the Great Hall of People in Beijing.

Xi said he had maintained sound communications with his US counterpart Donald Trump through phone calls and messages, and they had agreed that the two countries could be good cooperative partners.

Xi said that to advance China-US ties in a healthy and steady manner, both sides could enhance exchanges at various levels; expand cooperation in bilateral, regional and global fields; and properly address and manage sensitive issues.

Xi suggested the two countries increase strategic trust and mutual understanding, review bilateral ties from long-term and strategic perspectives and expand fields of cooperation for their mutual benefit.

The two countries should also enhance coordination on regional hotspot issues, respect each other’s core interests and major concerns and encourage friendly exchanges between their two Peoples.

Tillerson told Xi, who extended an invitation for President Trump to visit China, that the US president valued communications with his Chinese counterpart and looked forward to meeting Xi and visiting China.

The US side is ready to develop relations with China based on the principle of no conflict, no confrontation, mutual respect and win-win cooperation, said Tillerson.

China and the US are discussing arrangements for a meeting between the two presidents and exchanges at other levels, Chinese Foreign Minister Wang Yi said during his talks with Tillerson on Saturday.

“We attach great importance to your visit,” Wang told the US visitor at the Diaoyutai State Guesthouse in Beijing.

It was Tillerson’s first visit to China since he assumed office last month and he is also the first Cabinet-level official in the new US administration to visit.

China-US ties are developing steadily in a positive direction, Wang said.

He called for more cooperation in foreign affairs, the economy and trade, the military, law enforcement, people-to-people exchanges and local communication.

The essence of China-US trade relations is mutual benefit, said Wang, and he encouraged both countries to expand trade and investment cooperation.

Wang also restated China’s position on Taiwan and South China Sea issues, emphasizing that China and the US should respect each other’s core interests and major concerns, discreetly deal with sensitive issues to protect bilateral ties from unnecessary influences.

Tillerson said the US adheres to the “One China” policy and added that closer cooperation and coordination between the two countries was necessary in the face of a changing international situation. The US would like to have more high-level exchanges with China, and more dialogue in diplomatic security, macroeconomic policy coordination, law enforcement, cyberspace and people-to-people exchanges, he said.

Tillerson’s visit aims to make “political preparations” for the meeting between two presidents, and both sides would make the best use of this chance to seek common ground, said Jia Xiudong, a researcher with the China Institute of International Studies.

Tillerson arrived in Beijing on Saturday from Seoul. His first official Asian tour began on Wednesday and also took him to Japan.

US, China to Increase Cooperation on North Korea

(THIS ARTICLE IS COURTESY OF THE SAUDI NEWS PAPER ASHARQ AL-AWSAT)

World

US, China to Increase Cooperation on North Korea

Korea

Beijing – The United States and China vowed to work together against threats of the North Korea’s nuclear program, while US Secretary of State Rex Tillerson warned that the situation has reached a “dangerous” level.

Tillerson and his Chinese counterpart’s language seemed more reconciliatory in light US President Donald Trump’s accusations that China was not exerting enough efforts to control its troublesome neighbor. Beijing had meanwhile accused the White House of causing tensions.

“I think we share a common view and a sense that tensions on the peninsula are quite high right now and things have reached a rather dangerous level. And we have committed ourselves to doing everything we can to prevent any kind of conflict from breaking out,” Tillerson added during a press conference in Beijing with Foreign Minister Wang Yi.

Tillerson’s visit to China is the last leg of his Asian trip, where he made stops in Japan and South Korea.

He avoided using strong language during the joint press conference with Wang, who seemed to have reproached his counterpart for statements he had made earlier this week.

Wang urged the US to remain “cool-headed” and defended his government’s position, saying all international parties should seek diplomatic solutions while implementing UN sanctions against the regime in North Korea.

“We hope that all parties, including our friends from the United States, could size up the situation in a cool-headed and comprehensive fashion and arrive at a wise decision,” he added.

Neither parties announced any tangible future steps to solve the issue and Tillerson did not publically respond to Beijing’s calls for negotiations with North Korea.

Trump had increased the pressure on China, accusing it of not exploiting all means possible to control North Korea, whom he said considered Beijing to be its closest ally and economic benefactor.

“North Korea is behaving very badly. They have been ‘playing’ the United States for years. China has done little to help!” he tweeted.

The developments come after North Korea conducted two nuclear tests last year and launched missiles last month. The US considered the test-launch an attack on its bases in Japan.

The developments alarmed South Korea, spurring it to deploy the US’s Terminal High Altitude Area Defense System (THAAD). The Chinese leadership had accused the US of aggravating the situation through military trainings with its ally Seoul and the deployment of THAAD.

China is hesitant to increase its pressure on North Korea, whose reactions can be unpredictable.

Washington and Seoul insist that the THAAD system is for defense purposes only, but Beijing fears it could undermine its capabilities to denuclearize North Korea.

Beijing had always called for diplomatic talks to denuclearize North Korea, which is barred by the UN from proceeding with its program.

Wang also said that the Korean peninsula nuclear issue is of interest to everyone, reiterating his country’s commitment to the goal of denuclearization

“We are for the settlement of this issue through dialogue and negotiations and the maintenance of peace and stability on the peninsula and the overall region,” he added on Saturday.

Wang reiterated that China, as a close neighbor of the peninsula and a major power, has devoted a lot of energy and efforts to seek a settlement to the issue. The tremendous important efforts China has made are visible to all, he said.

Tillerson, who was CEO of ExxonMobil before being appointed secretary of state, said that a military option is possible if Pyongyang intensified its work.

“We do believe that if North Korea stands down on this nuclear program, that is their quickest means to begin to develop their economy and to become a vibrant economy for the North Korean people,” the US officials said.

He added: “All options are on the table, but we cannot predict the future.”

Maybe one of the reasons for the calm American-Chinese rhetoric is the expected talks between US President Trump and Chinese President Xi during the latter’s upcoming visit to US next month, the first such summit between the two leaders.

Trump is expected to host Xi at his Mar-a-Lago resort in Palm Beach on April 6 and 7 for an informal “no necktie” encounter. Experts hope this meeting will reduce tensions between the two officials.

China shares US fears of Pyongyang’s nuclear ambition, but it makes sure not to provoke its neighbor.

In February, Beijing issued a strong position when it announced it will stop coal imports from North Korea until the end of this year.

North Korea expert at Beijing University Wong Dong said: “It is a mistake to think that China can control Pyongyang and it is not reasonable for Washington to accuse Beijing of doing nothing. The situation is complicated and sensitive and there is no magical solution.”

The Obama administration ruled out any diplomatic involvement with Pyongyang until the latter shows commitment to denuclearization.

The communist state insists on owning nuclear weapons to defend itself and executed its first test in 2006 despite international objection. It had done four other tests, two last year.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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