World News: 06:46 GMT Friday 2nd August 2019. [Yahoo Business News Feed via SPi World News]
Chinese Foreign Minister Wang Yi has urged Japan and South Korea to show goodwill and resolve their trade spat through negotiations and dialogue. Japan's Cabinet on Friday approved the removal of South Korea from a 'whitelist' of countries with preferential trade status. South Korea's president has vowed stern countermeasures against Japan's decision to downgrade its trade status, which he described as a deliberate attempt to contain South Korea's economic growth and a 'selfish' act that would damage global supply chains.
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