Washington Urged to Lift Sanctions on China by Foreign Minister Wang Yi
In a recent meeting between China's Foreign Minister Wang Yi and U.S. Secretary of State Antony Blinken, Wang called for the lifting of sanctions on Chinese companies and individuals. He emphasized that attempts to de-couple from China would only harm the United States. The meeting took place on the sidelines of a Munich security conference, where both sides expressed a willingness to improve relations.
Sanctions Imposed on Chinese Entities
Washington has imposed sanctions on various Chinese companies, citing their alleged collaboration with China's military, despite denials from the firms themselves. Additionally, the United States has also imposed sanctions on individuals and entities over alleged human rights abuses in the Chinese region of Xinjiang. These actions have strained relations between the two superpowers.
Signs of Improvement, but Frictions Persist
While Sino-U.S. relations have shown signs of improvement in recent months, many points of friction remain. The Biden administration has implemented bans on the sale of certain technologies to Chinese companies due to national security concerns. China, in response, has accused the U.S. of "weaponizing" economic and trade issues. Wang emphasized that such actions would only backfire on the United States.
Constructive Exchange of Views on Regional Issues
During the meeting, both sides engaged in frank and constructive discussions on regional issues. While details were not disclosed, the statement released by China's foreign ministry mentioned discussions on the Ukraine crisis and the Korean Peninsula. The envoys from both sides will maintain communication on the Korean Peninsula matter.
One-China Principle and the Taiwan Strait
Wang reiterated China's stance on the one-China principle and stability in the Taiwan Strait. He emphasized that Taiwan is part of China's territory, while Taiwan strongly objects to China's sovereignty claims and insists that the island's future should be decided by its people. Although U.S. President Joe Biden has stated that the U.S. does not support Taiwan's independence, the U.S. maintains unofficial relations with the island and remains its primary supporter and arms supplier.
Progress in Bilateral Relations
Since Chinese President Xi Jinping's talks with President Biden in November, progress has been made in bilateral relations. Agreements were reached on issues such as fentanyl, military communications, and artificial intelligence during the Asia-Pacific Economic Cooperation summit. Both countries held their first joint meeting of a working group on fentanyl precursor chemicals in Beijing in January, and China's financial officials hosted U.S. Treasury officials earlier this month.
Maintaining Dialogue and Future Exchanges
Blinken and Wang discussed the continuation of exchanges "at all levels" between China and the U.S. in the next stage. They agreed to maintain dialogue in all areas, according to the statement released by China's foreign ministry. This indicates a commitment to further improve relations and address existing concerns.
Analyst comment
Neutral news. The statement from China’s Foreign Minister Wang Yi calling for the lifting of sanctions on Chinese companies and individuals is a reflection of ongoing tensions between the US and China. Despite signs of improvement in Sino-US relations, various points of friction still remain. The market is likely to continue experiencing uncertainties and fluctuations due to the complex and evolving nature of the US-China relationship.