Obama urges China to tackle overproduction of industrial goodsSeptember 20, 2016 - 10:39 AMT PanARMENIAN.Net - U.S. President Barack Obama has urged China to accelerate measures to tackle overproduction of industrial goods, BBC News reports. China has been accused of unfair practices by firms overseas for dumping products at low prices in their home markets. In April, China promised to reduce its steel output, following a crisis meeting attended by 30 nations. The President met Premier Li Keqiang on the sidelines of the United Nations General Assembly in New York. In a statement from The White House, President Obama also urged China to establish a level playing field, so that all firms can compete fairly in the country. Earlier this year, the European Union Chamber of Commerce in China accused China of not doing enough to address the issue of overcapacity. European Chamber President Joerg Wuttke said: "Although the Party's annual Central Economic Work Conference has listed addressing overcapacity as a priority every year from 2007 to 2015, fundamental changes have not yet taken place. "Tackling overcapacity is now more urgent than ever: the cost of maintaining the status quo is far too high." Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |