Decoupling US-China Supply Chains ‘Runs Counter’ to Economic Law: Beijing
China-U.S. economic and trade relations “are essentially mutually beneficial,” a Chinese Foreign Affairs Ministry spokesperson said when asked Oct. 8 about remarks by U.S. Trade Representative Katherine Tai that the Biden administration wants to reengage Beijing in new rounds of trade talks and hold China accountable for its commitments under the January 2020 phase one trade agreement (see 2110040049). “There is no winner in a trade war,” the spokesperson said.
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The Chinese think that “the formation and development of global industrial and supply chains is the result of both market law and choices of the business community,” responded the ministry spokesperson. “Artificial” decoupling of supply chains “runs counter to the law of the economy and objective reality,” he said.
Cooperation and dialogue, not decoupling or confrontation, “is the strong aspiration of various sectors in both China and the U.S., including the business community,” the spokesperson said. "The U.S. should heed these calls and do more things conducive to the sound and steady development of China-U.S. economic and trade ties.” Tai’s office didn’t comment.
China "attaches importance" to "positive remarks" that President Joe Biden recently made on U.S.-Chinese relations, the spokesperson said. "China has noticed that the U.S. side said it has no intention of containing China's development, and does not seek a new Cold War." Beijing hopes Washington would adopt a "rational and pragmatic China policy," he said.