According to Reuters, after the visit of the US Treasury Secretary to China, Jay Chamberlain, the US Deputy Secretary of the Treasury for International Affairs, hyped up relations with China at a congressional hearing on the 26th local time, claiming that the Biden administration will not hesitate to take targeted actions against China to ensure the national security interests of the US and its allies and protect human rights. He also added that the US and China must cooperate to address global challenges. Earlier this month, during a meeting with US Treasury Secretary Yellen, China clearly stated that politicizing and securitizing economic cooperation is not conducive to the development of the two countries and even the global economy.
Jay, Deputy Secretary of the US Treasury for International Affairs? On the 26th, Xiangbo delivered a speech on China related issues at a hearing of the Senate Foreign Relations Committee. Video screenshot from the official website of the US Senate Foreign Relations Committee
According to the official website of the US Treasury Department, Jay Chamberlain delivered a speech at the hearing of the US Senate Foreign Relations Committee that day regarding the US Treasury’s efforts to address “economic coercion” and enhance US competitiveness. He claimed that due to US Treasury Secretary Yellen and his recent visit to China, he will focus his opening remarks on US engagement with China and how the Treasury can use its economic tools to promote the interests of the US nation and foreign policy.
According to Reuters, Jay? Xiangbo said that economic decoupling would be “catastrophic” for both the United States and China, and it is almost impossible to achieve it.
Firstly, the United States will not hesitate to take targeted actions to ensure the national security interests of us and our allies and partners, and we will protect human rights, When necessary, we will use a complete set of tools to achieve our national security goals. Our core mission is to protect the American people from national security risks, while also clearly conveying our position and intentions to China to reduce the risk of misunderstandings
At the same time, he once again played up the so-called “economic coercion” behavior and retaliated, claiming that China’s recent punitive actions against US companies and export controls on key semiconductor items have troubled the US Treasury Department.
At the regular press conference held by the Ministry of Foreign Affairs of China on July 5, spokesman Wang Wenbin, as a responsible major country, China has always been a true advocate and defender of multilateralism, always committed to maintaining the security and stability of the global industrial chain Supply chain security, and always implemented fair, reasonable and non discriminatory export control measures. We have always opposed the generalization of national security by individual countries, the abuse of export controls, and the implementation of bottomless, naked suppression and containment of bullying against specific countries. It is entirely legitimate and reasonable for China to implement export controls on some gallium and germanium related items, drawing on international practices.
Reuters also mentioned that the Biden administration is considering imposing new restrictions on foreign private investment targeting China and other relevant countries. On Tuesday (25th), the US Senate overwhelmingly voted in favor of legislation that requires US companies to inform federal agencies of proposed investments in technologies such as Chinese semiconductors and artificial intelligence.
On the 18th of this month, Foreign Ministry spokesperson Mao Ning stated at a press conference that China has always opposed the politicization and weaponization of economic and technological issues by the United States. We believe that artificially setting obstacles to normal technical cooperation and economic and trade exchanges violates the principles of a market economy, disrupts global supply chain stability, and is not in the interests of either party. We hope that the US side will implement President Biden’s unwillingness to “decouple” from China, obstruct China’s economic development, and contain China, creating a favorable environment for Sino US economic and trade cooperation.
It should be clarified that neither actions aimed at national security nor attempts to establish a diversified supply chain represent ‘decoupling’. While hyping up relations with China, Jay Chamberlain also stated in a prepared speech on the 26th, ‘We seek a fair and healthy economic relationship that benefits both countries and supports American workers and businesses.’
But while promoting cooperation between the United States and China on urgent global challenges such as climate change, Jay Chamberlain has also played the same old game, using the so-called “debt problem” of developing countries to hype up relations with China.
As for the so-called “Debt trap”, Wang Wenbin, spokesman of the Ministry of Foreign Affairs, said in April this year that some American and Western politicians were weaving various discourse traps in an attempt to disrupt and undermine China’s cooperation with developing countries. Their tactics have been seen through by the vast number of developing countries and the international community, and there is no market for them.
On the 7th of this month, Premier Li Qiang met with visiting United States Secretary of the Treasury Yellen. Li Qiang stated that mutual respect, peaceful coexistence, and win-win cooperation are the basic and correct ways for countries to coexist with each other. Chinese civilization has always emphasized the importance of harmony and opposed hegemonic behavior. I hope that the US side will uphold a rational and pragmatic attitude, work towards China, and promote the early return of China US relations to the right track. Li Qiang pointed out that the close integration of economic interests between China and the United States, mutual benefit and win-win situation, is the essence of China US economic relations, and strengthening cooperation is the practical need and correct choice of both sides. China’s development is an opportunity rather than a challenge for the United States, a gain rather than a risk. Making economic cooperation more political and secure is not conducive to the development of the two countries and even the global economy. Both sides should strengthen communication and seek consensus on important issues in the bilateral economic field through frank, in-depth, and pragmatic exchanges, injecting stability and positive energy into the Sino US economic relationship. China and the United States should strengthen coordination and cooperation, work together to address global challenges, and promote common development.
