U.S. Treasury Secretary Janet Yellen's visit to China has frequently forced China to make concessions, but as a result, our side will not budge an inch on China's home turf, and in the end, Yellen can only use alcohol to kill her sorrows before leaving.
China did not agree to Yellen's request during her visit to China
It is reported that Yellen's visit to China mainly made three demands on China.
First, China should not be allowed to support Russia, otherwise the consequences will be serious.
As a result, within 24 hours, we invited Russian Foreign Minister Sergei Lavrov over, and before Yellen left, we warmly entertained Lavrov and talked with her about cooperation in China, telling the US side with concrete actions that such a threat would have no effect on China and Russia.
[U.S. Treasury Secretary Janet Yellen]
Second, Yellen forced China to solve the problem of electric vehicle production capacity, or else it would impose import tariffs.
But what about our attitude? It is also very clear, firstly, it is not China that causes the United States to be unable to sell electric vehicles, and secondly, we do not plan to sell electric vehicles in the American market, we sell them in Southeast Asia, the Middle East, and South America, and the United States will impose tariffs at will, which will not affect China at all.
Third, Yellen has repeatedly claimed that the United States does not seek "decoupling" from China and the United States.
But what the United States wants to "not decouple" is the "non-decoupling" of the dollar, and wants us to keep buying their US bonds to support the hegemony of the dollar.
For example, Tesla can sell cars in China, while BYD in China cannot sell cars in the United States, which is a naked "double standard".
China categorically will not agree to such unreasonable demands of the United States, and we have never had illusions about the "non-decoupling" of the United States.
【China's new energy vehicle companies】
China urges the US side to take concrete actions
In fact, before Yellen came, we also had a hunch that Yellen's attitude would not be much better, after all, the reality is here.
The U.S. has escalated its crackdown on China's economy, trade, and technology, and its sanctions list against Chinese companies has been extended. Yellen's so-called "responsible management" sounds particularly ironic.
China has always believed that as the world's two largest economies, economic and trade cooperation between China and the United States should be mutually beneficial in nature, and will continue to work towards this goal.
However, in recent years, the United States has failed to move closer to China and to shoulder its responsibilities to its own people and the world, and its behavior is well known.
Therefore, when it comes to "responsible," it should be the United States that is responsible.
The United States should create more benefits for Chinese and American companies, pursue mutual benefit and win-win results, and consider addressing global challenges and promoting world economic growth.
Economic and trade issues should not be politicized, still less should instability be created in the name of "security".
【美国封禁Tik Tok】
Recently, the United States has taken many measures to hinder China's development, from raiding the American subsidiaries of Chinese companies, to banning the purchase of batteries from Chinese companies, to suppressing TikTok.
Taking advantage of Yellen's visit to China, China has raised clear concerns about this, saying that the US sanctions on Chinese companies, imposing tariffs and restricting investment are not in China's interests or in the interests of the United States.
At the same time, China has made it clear that the United States needs to recognize that it will be difficult for the U.S.-China economic relationship to get back on track without stopping the generalization of "national security."
In short, as the old saying goes, China hopes that the United States will work with China in the same direction, and even more so that it will see the United States take concrete actions that do not seek "decoupling" from China.
Yellen borrowed alcohol to kill her sorrows?
It is also worth mentioning that one of Yellen's requests that cannot be avoided during this trip is that she hopes that China can buy US Treasury bonds to save the US economy.
During her two visits to China last year and this year, Yellen, as Treasury secretary, expressed a desire for China to continue to buy or at least maintain its current level of holdings of U.S. Treasuries.
【Yellen and Burns drinking beer】
Since China has long been one of the major overseas holders of U.S. Treasury bonds, its purchase of U.S. Treasury bonds is significant for U.S. finances and global financial markets.
Against the backdrop of the widening U.S. fiscal deficit and the need to raise funds to make up for the budget gap, one of the purposes of Yellen's visit to China is to ensure that China does not significantly reduce its holdings of U.S. debt, and even hopes that China will increase purchases to help the U.S. alleviate debt pressure, stabilize financial markets, and support the U.S. economy.
In this regard, the Chinese side is more cautious and will not agree to such a "unprofitable and thankless" thing.
In short, the main request of Yellen's visit to China this time was not agreed to by China.
This made Yellen feel uncomfortable, and after a press conference on the afternoon of April 8, Yellen and U.S. Ambassador to China Burns came to Sanlitun to drink beer together.
Does this move mean to use alcohol to dispel sorrows? The benevolent will see the benevolent and the wise will see the wise.
In short, times have changed, and the United States cannot harbor unrealistic illusions, and as a result, it can only be "slapped in the face" by reality.
Only if the U.S. side can adjust its stance toward China, sincerely demonstrate its desire and actions for cooperation, and conduct communication and dialogue based on strengthening cooperation and mutual benefit and win-win results between China and the United States, can we achieve substantial results and benefits.
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