UN chief urges world to stamp out religious persecution

Washington, Apr 11: China is considered a developing country, make the United States too a developing one, US President Donald Trump said on Friday, alleging that Beijing has taken advantage of his country.

"China has been unbelievably taken advantage of us and other countries. You know, for instance, they are considered a developing nation. I said well then make us a developing nation too,” Trump told reporters at his daily White House news conference on coronavirus.

The president was responding to a question on China.

“They get big advantages because they are a developing nation. India, a developing nation. The United States is a big developed nation. Well, we have plenty of development to do,” he said.

Reiterating that United States was taken advantage of by the World Trade Organization, Trump said the Chinese economy started booming after it joined WTO with the help of the US.

“If you look at the history of China, it was only since they went into the WTO that they became a rocket ship with their economy. They were flatlined for years and years,” he said.

“Frankly, for many, many decades. And it was only when they came into the WTO that they became a rocket ship because they took advantage of all -- I'm not even blaming them. I'm saying how stupid were the people that stood here and allowed it to happen,” he said.

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The Trump Administration will now allow that to happen, he said.

“If they don't treat us fairly, will leave. But now we're starting to win cases,” he said.

Alleging that China has taken advantage of the United States for 30 years, he said, China has taken advantage of the US through WTO and using rules that are unfair to the United States.

"They should have never been allowed it, this should have never been allowed to happen", he added.

“When China joined and was allowed to join under those circumstances the WTO, that was a very bad day for the United States because they have rules and regulations that were far different and far easier than our rules and regulations,” he said.

“Plus. They took advantage of them down to the last. China took advantage of them like few people would even think to take advantage of them and again they are considered right a developing nation,” he added.

The United States, he rued, is not considered a developing nation.

“The were given advantages (for being a developing nation). For many years China has ripped off the United States. Then I came along and right now, as you know, China is paying 25 percent," said Trump, adding that the US is now gaining "billions and billions and billions of dollars in tariffs from China”.

The US is not paying, he asserted.

“Not every country is China but China would devalue their currency and they would also pour out money and they essentially were paying most of those tariffs not us,” he said.

Jan 22: Microsoft Corp’s chief executive officer said he worries that mistrust between the US and China will increase technology costs and hurt economic growth at a critical time.

Using the $470 billion semiconductor industry as an example of a sector that is already globally interconnected, Satya Nadella said the two countries will have to find ways to work together, rather than creating different supply chains for each country.

“All you are doing is increasing transaction costs for everybody if you completely separate,” Nadella said in an interview with Bloomberg News Editor-in-Chief John Micklethwait at Bloomberg’s The Year Ahead conference in Davos. That’s a concern as the executive said the world is on the cusp of a revolution around technology and artificial intelligence.

“If we take steps back in trust or increase transaction costs around technology, all we are doing is sacrificing global economic growth,” he said.

The agreement signed last week between the US and China was “not sufficient,” said Nadella, but represented “progress” on the issue of intellectual property protections for US technology companies working with China.

Nadella said he worries about the development of two separate internets, noting that to some degree they already exist “and they will get amplified in the future” with massive technology companies already in place in China.

The viewpoint clashes with Microsoft co-founder Bill Gates, who has been sceptical about the idea that ongoing US-China trade tensions could ever lead to a bifurcated system of two internets.

China and the US are the two leading AI superpowers, however the cooling political relations between them have slowed the international collaboration.

Nadella also warned that countries that fail to attract immigrants will lose out as the global tech industry continues to grow. The CEO has previously voiced concern about India’s Citizenship Amendment Act, calling it “sad.”

“However, Nadella said he remained hopeful.

“The fact that there is a 70-year history of nation-building, I think it’s a very strong foundation. I grew up in that country. I’m proud of that heritage. I’m influenced by that experience.”

Tokyo, Mar 4: Takeda Pharmaceutical Co said on Wednesday it was developing a drug to treat COVID-19, the flu-like illness that has struck more than 90,000 people worldwide and killed over 3,000.

The Japanese drugmaker is working on a plasma-derived therapy to treat high-risk individuals infected with the new coronavirus and will share its plans with members of the U.S. Congress on Wednesday, it said in a statement.

Takeda is also studying whether its currently marketed and pipeline products may be effective treatments for infected patients.

"We will do all that we can to address the novel coronavirus threat...(and) are hopeful that we can expand the treatment options," Rajeev Venkayya, president of Takeda's vaccine business, said in the statement.

Takeda said it was in talks with various health and regulatory agencies and healthcare partners in the United States, Asia and Europe to move forward its research into the drug.

Its research requires access to the blood of people who have recovered from the respiratory disease or who have been vaccinated, once a vaccine is developed, Takeda said.