China notified of U.S. envoy Branstad's resignation in early Oct.

China made a formal announcement Friday that U.S. Ambassador Terry Branstad will step down next month, as tensions between the world’s two major powers have been escalating over several economic and security issues.Washington notified Beijing on Monday that Branstad, a former Iowa governor, will leave in early October, Chinese Foreign Ministry spokesman Wang Wenbin told reporters. But he did not elaborate on why Branstad will resign or who will take over his positon.China hopes Branstad, known to have close ties with Chinese President Xi Jinping, will “continue to play an active role in the he…

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