TikTok has been downloaded over 175 million times in the United States and over 1 billion times globally, according to the executive order, which claims that the app automatically captures "vast swaths of information" from its users, posing risks to U.S. national security.
The two sides wrapped up their negotiations on the bilateral FTA on July 20.
"If China were to mimic Trump's gambit -- alleging, without providing evidence, that some U.S. multinationals are potential national-security threats -- it could force them to sell their operations to 'very Chinese' buyers. Although the Chinese government has not yet done so, the risk has become higher now," said Wei, who served as chief economist of Asian Development Bank during 2014-2016.
These actions will by far create trade unpredictability and render the domino effect through the introduction of such policy by other members as retaliations, he added.
Nearly 70 percent of the surveyed U.S. companies were optimistic about the commercial prospects of the Chinese market, and 87 percent of the companies reported no plans to shift production out of China, according to the survey.
"These gestures show the true friendship that we always support each other in every difficult situation," Sorasak said.
Sorasak said the recent rising tendency in protectionism and unilateralism poses a severe hindrance to the global effort undertaken at the World Trade Organization (WTO) and beyond.
The country's securities authorities have provided the audit work papers of several U.S.-listed Chinese companies to the U.S. securities authorities, as mentioned in the U.S. report, it said.
The Philippines advocates peaceful settlement of relevant disputes through legal means, Lorenzana said.
A medic performs COVID-19 testing at a Chinese-built lab in Baghdad, Iraq on July 29, 2020. (Xinhua)
Iraq has been suffering fragile health systems due to years of conflicts and violence. Before the Chinese-built lab went into operation, the Central Public Health Laboratory in Baghdad was the only place to conduct PCR testing, facing mounting pressure to test samples across the war-torn country.