Biden Administration Imposes Bans on Chinese Technologies, China Accuses US of "Weaponizing" Trade
The Biden administration has recently implemented bans on the sale of certain technologies to Chinese companies, citing national security risks. In response, China has accused Washington of "weaponizing" economic and trade issues. The tensions between the two nations continue to escalate, causing concerns about the future of their bilateral relations.
China Warns US Against "De-risking" and "Decoupling"
China's Foreign Minister, Wang Yi, has warned the US that their strategy of "making 'de-risking' into 'de-China'" and seeking "decoupling from China" will backfire on the US itself. Mr. Wang shared his concerns during a meeting with US Secretary of State, Antony Blinken. Both parties engaged in a frank, substantial, and constructive dialogue, exchanging their views on various regional issues, including the Ukraine crisis and the Korean Peninsula.
US Urged to Abide by "One-China" Principle
During the meeting, Mr. Wang reiterated China's stance on Taiwan, emphasizing that the US should abide by the one-China principle if it truly desires stability in the Taiwan Strait. He stated that there is only one China in the world, and Taiwan is part of China's territory, emphasizing that this is the real status quo in the Taiwan issue. China regards Taiwan as an integral part of its territory, while Taiwan strongly objects to China's sovereignty claims and asserts that its future should be decided by its own people.
Progress in US-China Relations Since President Biden's Talks with President Xi Jinping
Although tensions persist between China and the US, some progress has been made in their bilateral relations. Chinese President Xi Jinping and US President Joe Biden held talks in November, where they reached agreements on various issues such as fentanyl, military communications, and artificial intelligence. Both countries have since taken steps to implement these agreements, including holding a joint meeting on fentanyl precursor chemicals and hosting financial officials from both sides.
Future Outlook on US-China Relations
Secretary Blinken and Foreign Minister Wang discussed the importance of maintaining exchanges at all levels between the two countries in the next stage. Both parties agreed to continue dialogue in all areas and expressed their commitment to finding common ground despite their differences.
The Biden administration's recent bans on Chinese technologies and China's accusations of the US weaponizing economic and trade issues highlight the ongoing challenges in the US-China relationship. As both countries strive to protect their national interests, finding a balance that maintains stability in the Taiwan Strait and promotes cooperation on key regional issues will be crucial.
Analyst comment
Neutral news. It is expected that the market will continue to experience tensions and uncertainties due to the ongoing trade and technology disputes between the US and China. However, the fact that both sides have agreed to maintain dialogue and continue exchanges indicates a willingness to find common ground and potentially mitigate risks in the future.
