Page 25 - ARUBA TODAY

BUSINESS Monday 26 March 2018
A25

China appeals for cooperation as it warns of 'trade war'

By JOE McDONALD passengers in the same
BEIJING (AP) — A top Chi- boat" and "make econom-
nese official warned Sun- ic globalization more open,
day that a "trade war" inclusive, balanced and
would harm all sides but beneficial for all."
gave no indication of Bei- However, he also empha-
jing's possible next move sized that China's income
in a spiraling dispute with per person still is low, sug-
President Donald Trump gesting Beijing is unlikely
over steel and technology. to offer significant conces-
Speaking to global business sions to Washington.
leaders at a development Han repeated promises
forum, Vice Premier Han that China's planned mar-
Zheng appealed for coop- ket-opening would create
eration to make economic new opportunities for for-
globalization "beneficial for eign companies. Business
all." groups have welcomed re-
"A trade war serves the in- form pledges but complain
terests of none," Han said Beijing is moving too slowly,
at the China Development making it unclear whether
Forum. "It will only lead to additional promises will
serious consequences and mollify Washington, the
negative impact." Chinese Vice Premier Han Zheng delivers his opening speech in the China Development Forum European Union and other
Han didn't mention Trump held at the Diaoyutai State Guesthouse in Beijing, Sunday, March 25, 2018. trading partners.
by name or refer directly to (AP Photo/Emily Wang) In a phone call Saturday
the dispute with Washing- with U.S. Treasury Secretary
ton, but the country's newly said might be hit by higher brewing over Trump's ap- markets have sunk on fears Steven Mnuchin, Vice Pre-
appointed economy czar tariffs. proval Thursday of a pos- Chinese retaliation might mier Liu He said Beijing is
warned Saturday that Bei- The Commerce Ministry sible tariff hike on $30 bil- prompt other governments "ready and capable of de-
jing will defend its interests. said those charges were lion of Chinese goods in to raise import barriers, de- fending its national interest
The government issued a linked to Trump's approval response to what Washing- pressing global trade. and hopes both sides will
$3 billion list on Friday of earlier of higher tariffs on ton says is Beijing's improper Han appealed to other remain rational," according
U.S. goods including pork steel and aluminum im- acquisition of foreign tech- governments to "cooper- to China's official Xinhua
and stainless steel pipes it ports. But a bigger battle is nology. Global financial ate with each other like News Agency.q

Facebook ads apologize for Cambridge Analytica scandal

NEW YORK (AP) — Face- firm affiliated with President were first published. app that had access to Analytica got the data
book's CEO apologized for Donald Trump's 2016 elec- Among the newspapers large amounts of data. "We from a researcher who
the Cambridge Analytica tion campaign, got data with the ads were The New expect there are others. paid 270,000 Facebook us-
scandal with ads in multiple inappropriately. The firm is York Times and The Wash- And when we find them, ers to complete a psycho-
U.S. and British newspapers alleged to have created ington Post in the U.S. and we will ban them and tell logical profile quiz back in
Sunday, saying the social psychological profiles to The Sunday Times and The everyone affected," the 2014. But the quiz gathered
media platform doesn't de- influence how people vote Sunday Telegraph in the ads stated. information on their friends
serve to hold personal infor- or even think about politics United Kingdom. Zuckerberg closed the ads as well, bringing the total
mation if it can't protect it. and society. The ads said Facebook is by saying: "I promise to do number of people affect-
The ads signed by Mark Facebook's stock value has limiting the data apps re- better for you." Cambridge ed to about 50 million.q
Zuckerberg said a quiz app dropped more than $70 bil- ceive when users sign in.
built by a Cambridge Uni- lion since the revelations It's also investigating every
versity researcher leaked
Facebook data of millions
of people four years ago.
"This was a breach of trust,
and I'm sorry we didn't do
more at the time. We're
now taking steps to make
sure this doesn't happen
again," the ads said.
Facebook's privacy prac-
tices have come under
fire after Cambridge Ana-
lytica, a political consulting
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