August 15, 2022
KCNA Ministry of Foreign Affairs (EN)

Mean Act Hindering Economic Development of China

Date: 01/08/2022 | Source: Ministry of Foreign Affairs (EN) | Read original version at source

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During her recent visits to Asian countries, the U.S. Secretary of Treasury vilified China as follows: China is conducting unfair trade activities to take predominant position in the field of advanced technology. It is intolerable that China creates economic confusion and wields its geopolitical influence with major raw materials, technology and goods taking advantage of its position in the market. And the trade between allies should be strengthened.

The Chinese newspaper “China Daily” in its comment said that trade is a reciprocal activity of making commercial transactions according to the bilateral agreement. Therefore, it said, it is a nonsense to claim that the Sino-American trade is only profitable to national interests of China. It also criticized the U.S. for appealing to its allies with “shared values” to strengthen trade saying that it is, in essence, to turn the trade relations into a part of cold war factionalism of Washington.

It also disclosed that the ulterior purpose of the U.S. is to break the economic interdependence between the countries formed thanks to the globalization of the economy for several decades and to isolate China.

The U.S. moves to contain China and to internationally isolate it were not made public for the first time by the U.S. Secretary of Treasury during her Asian trip this time.

In 2018, under the pretext of “unfair trade deficit with China”, the U.S. provoked a China-U.S. trade war by imposing additional tariffs on Chinese imports worth of hundreds of billions of US$. The U.S. also has been attempting in every way to cut off the industrial and supply chain between China and all the countries of the world.

This year alone, it has rigged up all sorts of economic blocs one after another to the exclusion of China, including IPEF (Indo-Pacific Economic Framework), PBP (Partners in the Blue Pacific) and PGII (Partnership for Global Infrastructure and Investment).

Besides, it is imposing unilateral sanctions on Chinese companies for the reason they cooperate with Russia in the field of munitions industry. It is scheming to form “Chip 4” with the purpose of eliminating China from the world’s supply network of semiconductors.

The reality clearly shows that the U.S. pressure on China has entered a full-scale stage becoming more undisguised not only in the political, diplomatic and military fields, but also in the areas of economy and trade with its scale expanded into a world level.

As the Chinese media warned, the shameless and hegemonic behavior of the U.S. attempting to hinder the economic development of China will only bring self-destructive consequences to itself.

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