Beijing has raised "serious concerns" with the United States over Washington's trade curbs on Chinese businesses, warning they could threaten the "security and stability" of global supply chains, state media reported Tuesday.
In a readout of Monday talks in Beijing between the Chinese commerce minister and his US counterpart Gina Raimondo, state news agency Xinhua said Wang Wentao had urged Washington to "match its words with actions".
"Wang... raised serious concerns about issues including the US Section 301 tariffs on Chinese goods, its semiconductor policies, restrictions of two-way investment, discriminatory subsidies, and sanctions on Chinese enterprises," Wang said, referring to a raft of US policies Washington defends as necessary to "de-risk" its supply chains.
"Unilateral and protectionist measures run counter to market rules and the principle of fair competition, and will only harm the security and stability of the global industrial and supply chains," he added.
UK foreign secretary to visit China on Wednesday: Beijing
Beijing (AFP) Aug 29, 2023 -
UK Foreign Secretary James Cleverly will visit China this week, Beijing's foreign ministry said on Tuesday.
During the Wednesday visit "the two sides will have in-depth communication on China-UK relations and on international and regional issues of shared concern", ministry spokesperson Wang Wenbin told a regular briefing.
"It is hoped that the UK side will work alongside China in upholding a spirit of mutual respect, conduct in-depth exchanges, enhance understanding, and promote the stable development of China-UK relations," he added.
"As permanent members of the UN Security Council and major economies in the world, China and the UK shoulder the common responsibility of promoting world peace, stability and development."
The visit was initially expected to take place in July, but was postponed due to the mysterious disappearance of Beijing's now ex-foreign minister Qin Gang.
Cleverly will become the first British foreign secretary to visit China in more than five years, following Jeremy Hunt's trip in 2018.
Since then relations between the UK and China have soured over a number of issues, including human rights, tech and Beijing's crackdown in the former British colony of Hong Kong.
In July, China accused the UK of giving protection to fugitives after Cleverly slammed Hong Kong's decision to offer bounties for information leading to the capture of prominent democracy activists based overseas.
And on Sunday evening, state-backed nationalist tabloid Global Times demanded that the British Museum "return Chinese cultural relics for free", setting off a domestic social media firestorm.
Hawkish elements in Britain's ruling Conservative party have urged London to take a tougher stance on China.
But Cleverly has called for a pragmatic, constructive and united Western approach to China's rising clout, acknowledging the need to work in partnership with Beijing.
Artificial Intelligence Analysis
Defense Industry Analyst:
8/10
This article highlights the concerns of the Chinese government regarding US trade curbs, which they believe could threaten the security and stability of global supply chains. Defense industry analysts should be aware of this, as the article suggests that the US is taking unilateral and protectionist measures which could have a significant impact on the global defense industry. It is important to understand the implications of these measures, and how they might affect the industry in the short and long-term.
Stock Market Analyst:
6/10
The article discusses the potential implications of US trade curbs on global supply chains, which could have an impact on the stock market. Stock market analysts should be aware of the potential effects of these measures, as they could affect the prices of certain stocks and commodities. Additionally, they should be aware of the UK foreign secretary’s visit to China this week, as this could also have an effect on the stock market.
General Industry Analyst:
7/10
This article discusses the potential implications of US trade curbs on global supply chains, and the response from China. General industry analysts should be aware of the potential effects of these measures, as they could have a significant impact on the global industry. Additionally, they should be aware of the UK foreign secretary’s visit to China this week, as this could also have an effect on the industry.
Analyst Summary
:
This article discusses the potential implications of US trade curbs on global supply chains, and the response from China. China has raised serious concerns with the US over the trade curbs, warning that they could threaten the security and stability of global supply chains. Defense industry analysts, stock market analysts, and general industry analysts should all be aware of the potential effects of these measures, as they could have a significant impact on the respective industries. Additionally, they should also be aware of the UK foreign secretary’s visit to China this week, as this could also have an effect on the industry. This article is significant in that it reflects the current tensions between the US and China, which have been escalating over the past 25 years. This is evidenced by the US’s increasing unilateral and protectionist measures, as well as the current trade war between the two countries.
Investigative
Question:
- 1. What are the potential impacts of the US trade curbs on global supply chains?
- 2. How will the UK foreign secretary’s visit to China this week affect the industry?
- 3.
How have the US and China’s relations evolved over the past 25 years?4. What other countries have been affected by US trade curbs?
5. Are there any long-term implications of these measures for the industry?
This AI report is generated by a sophisticated prompt to a ChatGPT API. Our editors clean text for presentation, but preserve AI thought for our collective observation. Please comment and ask questions about AI use by Spacedaily. We appreciate your support and contribution to better trade news.
