ALBAWABA – The United States (US) is seeking to reinforce stable US-China ties and “healthy competition” between the world’s two largest economies, not impede Chinese economic growth, American Commerce Secretary Gina Raimondo reaffirmed Monday.
Raimondo arrived in Beijing on Sunday in an effort to further shore up US-China ties with Chinese counterpart Wang Wentao, news agencies reported.
During a meeting with Wang on Monday, Secretary Raimondo said the US sought “healthy competition” and had no intention to hinder China’s economic progress, according to Bloomberg.
She stressed the importance of stable economic ties between the world’s biggest economies as she attempts to expand business relations with China this week.
US Secretary of Commerce Gina Raimondo meets with Chinese counterpart in Beijing in an attempt to shore up US-China ties at the Ministry of Commerce in Beijing on August 28, 2023. (Photo by Andy Wong / POOL / AFP)
Notably, Raimondo is the fourth top US official to visit China this year, in an effort to normalise US-China ties and end the ongoing tech and trade war between the two countries.
Even as the US issues more curbs and controls on exports and investments pertaining to its China, Beijing remains among the US’s biggest trade partners.
Trade in goods between the US and China climbed to a record $690.6 billion in 2022.
However, US imports from China dropped this year, though, as America boosts trade with Mexico and Canada, the New York-based news agency explained.
These visits could culminate in a meeting between the nations' leaders, according to Agence France-Presse (AFP). US President Joe Biden even said recently that he was expecting to sit down with China's Xi Jinping this year.
“It is profoundly important that we have a stable economic relationship, which is to the benefit of both of our countries and in fact what the world expects of us,” Raimondo said. “It’s a complicated relationship, it’s a challenging relationship. We will of course disagree on certain issues, but I believe that we can make progress if we are direct, open and practical.”
US-China ties have plummeted to what could be the worst level in decades as the tech and trade wars rage on - Shutterstock
After Beijing, the US secretary will also travel to China's economic powerhouse Shanghai, Washington said, as reported by AFP.
Even though the US will not budge on alleged matters and concerns of national security, Raimondo said Monday that much of the trade between the two countries shouldn’t be affected.
“Of course in matters of national security, there is no room to compromise or negotiate,” she said.
But there were many areas for cooperation, the secretary reassured.
At the same meeting, Wang said China was ready to work with the US to boost trade and “foster a more favorable policy environment” for US and Chinese businesses.
Raimondo also said the US and China have “worked over the summer to establish new information exchanges and working groups that will enable us to have more consistent engagement in our relationship.”
Bloomberg News earlier reported Raimondo was expected to announce working groups on export controls and commercial issues.
Current state of US-China ties
Relations between the US and China have plummeted to what could be the worst level in decades, with Washington's consecutive trade curbs near the top of China’s list of grievances.
On the one hand, Washington argues its restrictions are crucial to safeguarding national security, while Beijing sees them as seeking to curb China’s economic growth.
Earlier this month, Biden issued an executive order restricting restricting certain American investments in sensitive high-tech sectors in China – a move Beijing blasted as being "anti-globalization".
Biden’s new executive order will come into effect as of 2024 and its rules target sectors like semiconductors and artificial intelligence, according to AFP.
Back in July, US Treasury Secretary Janet Yellen also visited China and met with Chinese officials, seeking to reassure them that any new moves by the US would be transparent. She also attempted to sooth growing tensions and stabilize US-China ties. But a slew of US measures were announced in the aftermath of her visit, disrupting whatever hopes Yellen instilled with the Chinese for re-normalization.
US Treasury Secretary Janet Yellen (L) shakes hands with Chinese Vice Premier He Lifeng during a meeting at the Diaoyutai State Guesthouse in Beijing on July 8, 2023. (Photo by Mark Schiefelbein / POOL / AFP)
Also in June, US Secretary of State Antony Blinken and climate envoy John Kerry both travelled to China. Blinken met with Xi and said progress had been made on a number of key sources of contention, AFP reported.
However, neither Yellen’s nor Blinken’s visits led to major breakthroughs. Nor did the recent Camp David summit between the US, South Korea and Japan, which sparked condemnation from Beijing.
Biden is inviting Xi to San Francisco in November at the summit of the Asia-Pacific Economic Cooperation forum, which includes China, held by the US. The two leaders could potentially also meet next month in New Delhi on the sidelines of a summit of the Group of 20 major economies.
