China media praises tone, outcome of Trump-Xi summit

China’s President Xi Jinping makes a speech during a business leaders event with US President Donald Trump at the Great Hall of the People in Beijing on Nov. 9, 2017. (AFP/Jim Watson)
Updated 10 November 2017
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China media praises tone, outcome of Trump-Xi summit

BEIJING: Chinese state media on Friday praised the tone and outcome of US President Donald Trump’s visit to Beijing, saying he and Chinese President Xi Jinping were setting a new blueprint for handling relations and managing their differences.
Trump pressed China to do more to rein in North Korea on Thursday and said bilateral trade had been unfair to the United States, but praised Xi’s pledge that China would be more open to foreign firms. The two also oversaw the signing of about $250 billion in commercial deals.
“Although the differences that had been pestering bilateral ties have not instantly disappeared, the most important takeaway from their talks in Beijing has been the constructive approach to these issues the two leaders demonstrated,” the official China Daily said in an editorial.
“Both expressed their willingness to work with, instead of against, the other in dealing with the differences between their two countries, in particular over trade and the Democratic People’s Republic of Korea’s nuclear program,” it added, using North Korea’s formal name.
China lavished attention on Trump and his wife Melania during their visit, with Xi personally chaperoning them on a tour of the Forbidden City, part of what the Chinese government referred to as a “state visit plus.”
Trump came to China pledging to ask Xi to play a bigger role in reining on North Korea, whose repeated nuclear and missile tests have angered both Washington and Beijing.
Xi, at least in public, went no further than reiterating China’s determination to achieve denuclearization through talks.
“China has tried its utmost, even at the sacrifice of Sino-North Korean relations,” influential tabloid the Global Times wrote in its editorial.
“Trump has gradually learned that Beijing is indeed making selfless contributions to promoting the denuclearization of the peninsula. He can’t demand more.”
China has repeatedly said it is committed to enforcing United Nations sanctions against North Korea, which does some 90 percent of its trade with China, but that more efforts need to be made to get everyone back to the negotiating table.
Su Xiaohui of the Foreign Ministry think-tank, the China Institute of International Studies, wrote in a front page commentary of the overseas edition of the ruling Communist Party’s People’s Daily that Sino-US cooperation was the only correct choice for both countries. “A new blueprint for China-US relations is gradually unfolding,” Su wrote.


Biotech billionaire takes over at Los Angeles Times, new editor named

Dr. Patrick Soon-Shiong. (AP)
Updated 19 June 2018
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Biotech billionaire takes over at Los Angeles Times, new editor named

  • Soon-Shiong, a surgeon whose biotech investments have boosted his net worth to some $7.5 billion
  • The new owner’s first move was to name as executive editor Pearlstine, 75, who has worked at The Wall Street Journal, Time Inc. magazines and Bloomberg News in a 50-year career

LOS ANGELES: Biotech billionaire Patrick Soon-Shiong took over Monday as the new owner of the Los Angeles Times and immediately named respected journalist Norman Pearlstine as top editor.
The changeover aims to reinvigorate what had been one of the leading US dailies until it fell on hard economic times in the digital era and saw a rise in newsroom unrest.
“From today, our important work protecting and building on a rich history of independent journalism begins — with a sense of urgency and purpose,” said a note to readers by Soon-Shiong, who agreed to pay $500 million and assume $90 million in pension liabilities to acquire the daily from the newspaper group Tronc.
The new owner’s first move was to name as executive editor Pearlstine, 75, who has worked at The Wall Street Journal, Time Inc. magazines and Bloomberg News in a 50-year career.
“Not only does he have amazing experience with the full knowledge of how a newsroom runs — but he’s amazingly modern and forward-looking,” Soon-Shiong told the newspaper.
“There’s no agenda, other than to make this the best journalistic institution.”
Soon-Shiong, a surgeon whose biotech investments have boosted his net worth to some $7.5 billion, reached the deal earlier this year to take over the Times and The San Diego Union-Tribune, operating under the California News Group.
He becomes the latest billionaire aiming to revive the fortunes of ailing US metropolitan newspapers, following Amazon owner Jeff Bezos’s takeover of The Washington Post and investor John Henry’s deal for The Boston Globe.
He reached the deal after months of newsroom unrest at the storied Los Angeles daily that saw three editors in the past six months and a vote to unionize the journalists.
The LA Times, like many newspapers, has been downsizing its staff as readers turn away from print to online news platforms.
The Los Angeles daily was family-owned for more than a century before being sold to the Chicago-based Tribune Co. in 2000.
Tribune Co., which split off its broadcast division and renamed its publishing arm Tronc (for Tribune Online Content), will continue to own the Chicago Tribune, Orlando Sentinel, South Florida Sun-Sentinel, Baltimore Sun and New York Daily News.
Soon-Shiong, born in South Africa to Chinese parents, has been an investor in Tronc and also owns a stake in the Los Angeles Lakers basketball team.
He has been a faculty member at the UCLA medical school and has invested in and donated to medical research.