US-China Relations Updates

My Interpretation for both sides:

For Yellen: It is possible that Yellen delivered this speech because she was unable to have a meeting with Chinese officials. They may have been unresponsive to her calls or failed to arrange a meeting for an extended period of time. Against this backdrop, Yellen’s speech outlined three objectives to convey her message to Chinese officials:

1. Due to National Security and Human Rights issues, we need to sanction a “short” list of Chinese companies and personnel that we think are connected with the Chinese Military, and or what we think is against Human Rights, not even mention China maybe invade Taiwan. (Stick to the existing policies)
2. Despite No. 1 above, we want to have healthy Economic engagement with Fair policy, and we think China is playing an unfair game. Mainly on government-supported industry or company subsidies；(Gave Warning)
3. Cooperation with China on major global challenges should not be hindered by previous disagreements or sanctions. We should maintain open communication channels and address issues together. It would be beneficial for China to answer the phone when I want to discuss matters with you. (Ask for talk again）

On Thursday, April 20， US Treasury Secretary Janet L. Yellen called for a “constructive” and “healthy” economic relationship between the US and China, in which the two countries can work together to address global challenges despite conflicting national security interests.
Yellen made these comments in a speech at the Johns Hopkins School of Advanced International Study, which is one of the most comprehensive positions by a Biden administration official on the government’s stance towards China to date. The speech had a pragmatic but noticeably positive tone, as tensions between the two countries have escalated for months due to Chinese espionage and propaganda activities in the US.
Yellen emphasized the importance of ensuring US national security interests and protecting human rights. However, she also believed that the US’s leadership position in the global economy is strong enough to face economic competition from China, provided that China follows international rules.
She said, “China’s economic growth does not necessarily conflict with US economic leadership.” She also said, “We are not seeking to ‘decouple’ from China economically.”
Yellen said that the Biden administration‘s economic strategy focuses on investing in US infrastructure, clean energy, and technology manufacturing, “rather than suppressing or containing any other economies.” She urged China to cooperate with the US on challenges such as helping debt-ridden countries and mitigating climate change.

Scott Kennedy, a senior advisor at the Center for Strategic and International Studies, said that the speech “goes against the overall atmosphere in both Washington and Beijing, that the US and China are destined to decouple and go to war.”
Kennedy said that Yellen clarified the positive reasons for establishing a business relationship with China, which had not been seen before in the Biden administration. “By doing so, the government has clearly distinguished itself from the Trump administration  in its approach to China.” Both parties now describe China as a dangerous economic competitor and security threat. Many have lost patience with the idea of incorporating China into a rule-based international system, believing that past efforts to do so have not sufficiently changed the country’s behavior.
Despite signing a trade agreement with China, Trump administration officials continued to push for economic “decoupling” between the US and China. The Biden administration has taken a more targeted approach, focusing on preventing China from acquiring military-use technology and reducing US dependency on China in key products such as solar panels and car batteries. But Yellen said on Thursday that she and President Biden do not see US-China relations as a “zero-sum race where one side has to fall for the other to rise.”
“We believe the world is big enough for both countries,” she said.
Yellen also said that the US has no intention of harming China’s economy and that the targeted actions the US has taken against China – such as cutting off the supply of the world’s most advanced semiconductor products to China – are purely to protect US national security.
She also said that the Biden administration is considering further restrictions on China, including a plan to limit US investment in China for certain technologies that could be used for surveillance or war. She also warned China not to provide material support for Russia’s war in Ukraine, saying that violating US sanctions against Russia “will have serious consequences.”
The Biden administration has already banned business with China on certain advanced technologies, while heavily subsidizing new manufacturing in the US for semiconductors, clean cars, and solar panels to establish alternative industries to China. Beijing has criticized US restrictions as illegal and openly undermining China’s economy.

Full speech can be found here： https://www.youtube.com/watch?v=MLpUP_V0D7g

For Qin Gang’s speech：

China shrugs off Yellen’s comments and publishes its own overall strategy.

1）China believes that development is a right that all countries should have， and that upholding globalization is the right direction. China will Promote the Construction of a Community with a Shared Future for Mankind.

2）American-style democracy is not the only choice, and we respect the people of all countries to choose their own path towards modernization. Achieving modernization through peaceful means is possible, as China has found its own path through independent practice. 3）China will be more resolute in defending the authority of the United Nations and maintaining the international order established after World War II. This means defending the sovereignty of Taiwan and even raising the issue of the sovereignty of the Ryukyu Islands when necessary.

4）China will not “build walls or set barriers” or “decouple” like the United States, and China opposes unilateral sanctions and extreme pressure.

According to Xinhua News Agency, on April 21st, the “Chinese-style Modernization and the World” Blue Hall Forum was held at the “World Conference Hall” in Shanghai. Chinese President Xi Jinping sent a congratulatory letter to the forum.

This forum was jointly organizsed by the China Public Diplomacy Association, China Institute of International Studies, and the Shanghai Municipal Government. Attendees included political leaders and former officials from nearly 80 countries, International experts and scholars, representatives from the business community, foreign ambassadors to China, representatives of international organisations, and international media.

Xi Jinping pointed out that China is willing to work with other countries to provide new opportunities for global development with the new achievements of Chinese-style modernisation, provide new assistance for exploring the path of modernisation and better social systems for humanity, and promote the construction of a community with a shared future for mankind. State Councilor and  Foreign Minister Qin Gang attended the opening ceremony, read out President Xi Jinping’s congratulatory letter, and delivered a keynote speech.

Xi Jinping pointed out that achieving modernisation is the unremitting pursuit of the Chinese people since modern times and also the common pursuit of people of all countries in the world. To achieve modernisation, a country must follow the general laws of modernisation and also be in line with its own actual conditions and characteristics. The Communist Party of China, united and led by the people of all ethnic groups, has found a path of development that suits China’s national conditions through long-term and arduous exploration, and is comprehensively promoting the construction of a strong country and national rejuvenation  with Chinese-style modernisation. China is willing to work with other countries to provide new opportunities for global development with the new achievements of Chinese-style modernisation, provide new assistance for exploring the path of modernisation and better social systems for humanity, and promote the construction of a community with a shared future for mankind.

Qin Gang said that the success of Chinese-style modernisation was not something that fell from the sky or emerged from the ground. Instead, it was achieved step by step by the Communist Party of China, with deep historical, practical, and theoretical logic. Chinese-style modernisation is the inevitable choice of China’s hundred-year development process, the necessary requirement for comprehensively promoting the great rejuvenation of the Chinese nation , and the inevitable result of the scientific law of human development. Under the strong leadership of the Communist Party of China, China has found a path of Chinese-style modernisation through independent practice and created a new form of human civilization. Modernisation is a common cause of all mankind, with no fixed model and not a multiple-choice question. As long as it conforms to its own national conditions and is conducive to the development of its people, any country can realize the dream of modernization.

Qin Gang said that as the world’s largest developing country, China always embraces the world, injecting more positive energy into world peace while achieving its own development, and bringing more new opportunities for global development. A modernization that follows the path of peaceful development will surely bring more certainty to world peace and stability. The fact has proven that China’s progress toward modernization is the growth of peace forces and the strengthening of justice forces.

Qin Gang pointed out that China will always adhere to the path of peaceful development, firmly promote the construction of a new type of international relations, and promote the construction of a community with a shared future for mankind. We will firmly defend the development rights of all countries, respect the modernization paths independently chosen by people of all countries, maintain the correct direction of globalization, oppose “building walls and setting barriers” and “decoupling,” oppose unilateral sanctions and extreme pressure, and promote the dual-wheel drive and mutual benefit of economic globalization and modernization of all countries. China’s achievements in modernization are obtained through openness and will also rely on openness for the future. We will actively promote high-level opening up, further deepen the integration of interests with countries around the world, and increase resource investment in global development cooperation. We will take a more proactive approach to promote cultural exchanges and promoting the common values of peace, development, fairness, justice, democracy, and freedom for all mankind. We will accelerate the establishment of a green, low-carbon, and circular economic system, promote the comprehensive green transformation of economic and social development, and actively participate in international cooperation in areas such as climate change, ocean governance, and global biodiversity protection. We will firmly defend the authority of the United Nations and maintain the international order after World War II.

Qin Gang stated that the copyright of Chinese-style modernization belongs to China, while the opportunities belong to the world. China is willing to work with all parties to promote modernization with their respective characteristics and create a better future for the world.