Washington: China considers itself a hero. But America repeatedly shows it its place. US President Joe Biden has once again hit out against China. He said on Thursday that China will have to face the consequences for helping Russia in the war against Ukraine. Apart from this, he said that some European countries are going to reduce their investment in the East Asian country.
According to news agency PTI, Biden said, ‘The issue is that we have to make sure that Xi Jinping understands that there will be a price to pay for dealing with the Pacific Basin as well as Europe and Russia and Ukraine. For example, if you want to invest in China, you must have a 51 percent Chinese owner. You have to make sure that you follow their rules and provide everyone access to all the data and information you have.’
That market seemed very attractive to companies because it provided access to more than a billion people. Biden said, “They were doing this, but when we started saying that we will also work by the same rules, then it decreased. For example, they do not follow international rules regarding subsidizing products through government financing. So thus they will not be able to export their electric vehicles to the US without any significant duty.
This is a matter of concern – Biden
He said, “Other countries are also doing the same thing around the world, but it is a matter of concern. Countries like China, North Korea, Russia, Iran may not have coordinated in the past, they are trying to figure out how they can influence.” In response to a question, he said that he has a strategy to deal with China.
He said, “I will not talk about it in detail publicly. As long as China continues to indirectly support Russia in terms of helping its economy and also helping their ability to fight in Ukraine, you will see that some of our European friends will reduce their investments in China.”
Tags: America News, China, Joe Biden, Xi Jinping
FIRST PUBLISHED : July 12, 2024, 12:26 IST