China raises five demands during Yellen’s visit

asiatimes.com ^ | July 11, 2023 | Jeff Pao

[elpadre]

The Chinese government has made five demands on the United States, including the cancellation of its chip exports ban and sanctions, during US Treasury Secretary Janet Yellen’s four-day China trip ended Sunday.

China’s Ministry of Finance said in a statement on Monday that it has expressed concerns to Yellen about the extra tariffs, company sanctions, investment restrictions, export controls and Xinjiang product bans imposed by the US on China in recent years. It said the US should take concrete actions to respond to China’s concerns.

Chinese commentators said the China side arranged meetings between key economic officials and Yellen, showing that Beijing attaches great importance to her visit. They said Washington knows clearly what to do if it wants China to purchase its treasury bonds.

During her four-day trip ended Sunday, Yellen met with Premier Li Qiang, Vice Premier He Lifeng, Finance Minister Liu Kun and People’s Bank of China (PBoC)’s party secretary Pan Gongsheng, as well as former Vice Premier Liu He and PBoC governor Zhou Xiaochuan. She had a total of about 10 hours of discussions with them.

“China’s development is an opportunity, not a challenge, for the US. It is a gain, not a risk,” Deputy Chinese Finance Minister Liao Min said in a statement published on Monday. “Strengthening cooperation between China and the United States is the practical need and the correct choice of the two countries.”

“To achieve a healthy Sino-US economic relationship, we must fully respect the legitimate development rights and interests of all parties, and conduct healthy competition in accordance with market economic principles and World Trade Organization rules,” he said. “Differences should not be a reason for estrangement, but rather a driving force for strengthening communication and exchange.”

[Vigilanteman]

Do you have a link? Or just search for “The China Show”?

[Max in Utah]

When I look at China I see a similar industrial behemoth that the Japs were looking at in 1940.

Manufacturing capacity yes. A major difference for China however is the availability of petroleum. America in 1940 had vast reserves of it; China today has very little and must import via tankers.