US President Joe Biden has promised not to get involved in trade wars with China, as his predecessor Donald Trump did, and instead to compete with the world’s second largest economy under international rules, writes CNBC.
According to Biden, there should be competition between the two countries, which does not develop into conflict. The new president also noted that he knows Chinese President Xi Jinping well, although he has not yet met with him as head of state. “He is very smart and cool. I am not saying this as a criticism, but in his body it seems there is no bone responsible for democracy,” Biden said.
Previously, the new head of the White House has already spoken out on the topic of future relations with China. Thus, in early February, he announced that he would oppose Beijing’s “economic abuses” and “compete from a position of strength” by coordinating with allies.
In turn, the new US Secretary of State Anthony Blinken held talks with Chinese Foreign Minister Yang Jieqi in early February, promising to “hold Beijing accountable for his actions.”
The trade war between the United States and China began in late 2017, when Washington imposed increased import duties on a number of Chinese goods. Subsequently, other countries joined the conflict, including the European Union. In early 2020, Xi Jinping and then US President Donald Trump signed an agreement on the “first phase” of the ceasefire, but its full implementation was hampered by the coronavirus pandemic.