US Commerce Secretary Gina Raimondo met with China's premier on Tuesday, calling for Beijing and Washington to work together to solve issues of global concern.
Raimondo's trip to China is the latest by a senior US official in recent months as Washington seeks to defuse tensions with the world's second-largest economy.
On Tuesday she held another round of talks with Chinese officials, meeting Premier Li Qiang to stress the importance of open communication between the two powers.
Pointing to areas of "global concern" like climate change, Artificial Intelligence and fentanyl addiction, she told Li that Washington wants to "work with you as two global powers to do what is right for all of humanity".
"The world is expecting us to step up together to solve these problems," she said.
Raimondo also reiterated the US position that it is not seeking to decouple its economy from China's.
"We seek to maintain our $700 billion commercial relationship with China, and we hope that that relationship can provide stability for the overall relationship," she said.
Earlier on Tuesday, Raimondo met China's Vice Premier He Lifeng, describing the US-China commercial relationship as "one of the most consequential" in the world.
"Managing that relationship responsibly is critical to both of our nations and indeed to the whole world," she said during a part of the meeting open to journalists.
She stressed the US would "never compromise in protecting our national security", but added that Washington did not seek "to hold China's economy back".
He, in response, said Beijing was willing to work on "new, positive efforts to keep economic consensus and step up cooperation".
Raimondo heads to China's economic powerhouse Shanghai later on Tuesday and will leave the country on Wednesday.
- 'Reduce misunderstanding' -
The commerce secretary is one of a number of senior US officials to visit China in recent months -- part of an effort by Washington to improve its working relationship with its largest strategic rival.
Relations between the two countries have plummeted to some of their lowest levels in decades, with US trade curbs near the top of the list of disagreements.
This month, Biden issued an executive order aimed at restricting certain US investments in sensitive high-tech areas in China -- a move Beijing blasted as being "anti-globalisation".
The long-anticipated rules, expected to be implemented next year, target sectors such as semiconductors and artificial intelligence.
Raimondo's trip has seen the US seek more open discussions with the Chinese over such policies, however.
On Monday she met with Commerce Minister Wang Wentao, with the two sides agreeing to set up a working group to iron out the laundry list of trade disputes between them.
They also agreed to set up what Washington called an "export control enforcement information exchange" -- described as a platform to "reduce misunderstanding of US national security policies".
The information exchange was set to convene for the first time at Beijing's commerce ministry on Tuesday, Washington said.
Beijing has painted a less rosy picture, saying Wang had raised "serious concerns" over Washington's trade curbs on Chinese businesses.
Those included "US Section 301 tariffs on Chinese goods, its semiconductor policies, restrictions of two-way investment, discriminat
ory subsidies, and sanctions on Chinese enterprises", Beijing's commerce ministry said.
Washington defends the policies as necessary to "de-risk" its supply chains.
But Wang warned they "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".
Artificial Intelligence Analysis
Defense Industry Analyst:
8/10
This article is highly relevant to a defense industry analyst, as it outlines the current foreign policy of the US towards China and hints at future developments. It provides insight into the US-China relationship and the potential for collaboration on global issues, which has implications for the defense industry. It also highlights the US stance on maintaining economic ties with China, and the importance of addressing “global concerns” such as climate change, Artificial Intelligence, and fentanyl addiction. This article is important in understanding the defense industrys potential interactions with China, and any actions that could be taken in response to global issues.
Stock Market Analyst:
6/10
This article is moderately relevant to a Stock Market Analyst as it provides insight into the US relationship with China and the potential for collaboration on global issues. Though it does not contain any direct mention of the stock market, it does provide useful context for understanding the long-term impacts of US-China relations on the stock market. It also provides insight into the US stance on maintaining economic ties with China, which could potentially have an impact on the stock market.
General Industry Analyst:
7/10 This article is of moderate relevance to a General Industry Analyst, as it outlines the current US-China policy and the potential for collaboration on global issues. It provides insight into the US stance on maintaining economic ties with China, which could potentially have an impact on the general industry. Additionally, it highlights the importance of addressing “global concerns” such as climate change, Artificial Intelligence, and fentanyl addiction, which could have an effect on the general industry as well.
Analyst Summary
:
US Commerce Secretary Gina Raimondo recently held talks with Chinas Premier Li Qiang and Vice Premier He Lifeng in order to discuss the importance of open communication between the two powers and address global issues, such as climate change, Artificial Intelligence, and fentanyl addiction. Raimondo stressed the importance of maintaining economic ties with China, and that the US is not seeking to decouple its economy from China’s. These meetings demonstrate that the US and China are attempting to work together to address global issues and maintain their commercial relationship. For defense industry analysts, this article provides useful insight into the US-China relationship and its potential implications for the defense industry. For stock market analysts, this article provides some context for understanding the long-term impacts of US-China relations on the stock market. For general industry analysts, this article provides insight into the US stance on maintaining economic ties with China, as well as the importance of addressing “global concerns” such as climate change, Artificial Intelligence, and fentanyl addiction.
This latest meeting between Raimondo and Chinese officials is indicative of increasing cooperation between the two powers, and suggests that the US is attempting to move past the tensions of the past and work together to address global issues.
Investigative
Question:
- 1. What specific strategies are the US and China pursuing to address climate change, Artificial Intelligence, and fentanyl addiction?
- 2. How have US-China relations evolved over the past 25 years?
- 3.
What potential economic impacts could arise if the US and China are unable to collaborate on global issues?4. What are the long-term implications of the US and China maintaining their economic relationship?
5. What other global issues could the US and China collaborate on in the future?
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.
