China warns against politicizing economy and trade

Chinese Premier Li Jiang stated that economic and trade issues should not be politicized and the boundaries of the concept of security should not be relaxed, otherwise this would be a disaster for the world economy. U.S. Commerce Secretary Gina Raimondo met with Premier Li Jiang, Vice Premier in charge of Economic Affairs Hı Lifing, and Minister of Culture and Tourism Hu Hıping in the capital Beijing today during her visit to China. According to a statement from the State Council, the highest executive body of the government in China, Premier Li pointed out that economic and trade relations between China and the U.S. are a “win-win” relationship that benefits both sides. During the meeting, Premier Li said, “Politicizing economic and trade issues and stretching the boundaries of the concept of security will not only negatively affect bilateral relations and mutual trust, but will also harm the interests of the rights and companies of the two countries and will be a disaster for the world economy.” “The two countries should work together to solve global problems” Drawing attention to the fact that China is “the largest developing country” and the US is “the largest developed country,” Li said, “The two sides should enhance cooperation based on mutual benefit, reduce friction and confrontation, and work together for the recovery of the world economy and the solution of global problems.” Stating that they were pleased to see the US administration express its commitment to the agreement reached by the leaders of the two countries at the G20 Summit held in Bali, Indonesia last year, Li said, “Mutual respect, peaceful coexistence and win-win cooperation are the right path for the development of China-US relations. We hope that the US side will work with China to take more practical and useful steps to maintain and develop bilateral relations.” According to a statement by the US Department of Commerce, Minister Raimondo emphasized Washington’s determination to take the necessary measures on issues concerning national security, ensure equal and fair treatment for American companies, and provide level playing field for American workers and enterprises during her meeting with Li. Raimondo, who drew attention to the importance of establishing communication channels that will facilitate cooperation between the two countries, called for further cooperation on global issues such as combating climate change or issues of concern to the two countries such as the crisis caused by opium-laced drugs. Concerns of American companies Raimondo discussed issues affecting economic relations between the US and China in her meeting with Deputy Prime Minister Hu. Raimondo, who conveyed the concerns of American companies doing business in China to her counterpart, expressed the problem of free competition created by the Chinese government’s subsidization of certain industries and the inadequacies in the protection of intellectual property rights, and pointed out the need to protect the trade secrets of American companies. The parties assessed the potential for cooperation in areas such as combating climate change, space trade, artificial intelligence and health. Cooperation in tourism Raimondo also underlined the importance of people-to-people interaction in relations between the two countries in her meeting with Minister of Culture and Tourism Hu, and expressed her satisfaction that China recently included the US among the countries where group tours can be organized. Expressing that the development of tourism will contribute to employment and economic growth in both countries, Raimondo also emphasized that it will strengthen mutual understanding between peoples and cultures. During the meeting, the ministers agreed that the 14th US-China Tourism Leadership Summit will be held in the US in the first half of 2024. Raimondo met with her counterpart Wang Yesterday US Trade Secretary Gina Raimondo met with her counterpart Wang Vintao yesterday during her visit to China. During the meeting, Raimondo signaled that the US’s strategy of relying on cheap labor abroad, primarily in China, for industrial production would change, and emphasized that they would “protect the American worker.” Visiting the country at a time when geopolitical competition and political tensions between the US and China are increasing, Raimondo gave the message that “there is no room for compromise” on trade and investment issues concerning national security. The US Minister will continue her contacts by visiting Shanghai tomorrow after Beijing. Raimondo is expected to meet with local officials as well as representatives from the American business and academic worlds.