US President Joe Biden told Chinese President Xi Jinping after a meeting with Russia’s Vladimir Putin to be “careful” as Beijing relies on Western investment.
“I said, ‘That’s not a threat.’ This is an observation. Since Russia’s entry into Ukraine, 600 American corporations have withdrawn from Russia. And you told me that your economy depends on investment from Europe and the United States. And be careful. Be careful,” Biden told.
In March, Putin and Xi held two days of talks, with warm words about China-Russia friendship and joint criticism of the West, but no sign of a diplomatic breakthrough over war-torn Ukraine. They also attended a virtual summit earlier this week.
There is heightened tension and pessimism in US-China relations over national security issues, including Taiwan, Russia’s war in Ukraine, growing bans on US high-tech exports and China’s state-led industrial policies, reported.
Meanwhile, US Treasury Secretary Janet Yellen continued her visit to China on Saturday. She has called for market reforms in China and criticized its recent crackdown on US companies and controls on mineral exports, while the Chinese premier urged her to “meet China halfway” and get bilateral relations back on track.
Yellen met with Premier Li Qiang during a visit to Beijing aimed at repairing frayed US-China economic relations, but made clear in her public remarks that Washington and its Western allies would continue to attack what she called “unfair economic practices of China”.
“We seek healthy competition that is not winner-take-all, but that with a fair set of rules can benefit both countries over time,” Yellen told Chinese Premier Li Qiang in a meeting Friday that the Treasury Department said was “candid.” and constructive.”
China issued a statement to Li calling for enhanced communication, consensus on economic issues and “sincere in-depth and pragmatic exchanges to inject stability and positive energy into Sino-US economic ties.”
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