U.S. Treasury Secretary: China is a new presence, the biggest competitor of the United States in both economic and military aspects

According to a report by the "Nikkei", U.S. Treasury Secretary Biden on August 7 accepted an interview with the newspaper and stated that China is a new presence, the biggest competitor of the United States in both economic and military aspects.

Biden claimed: "China has the most unbalanced economy in modern world history. We believe many Chinese products are sold at prices below production costs. Chinese manufacturing has gained significant benefits from the government, which is essentially a policy to create jobs. The Chinese economy is fundamentally different from those of Western countries and Asian democratic nations."

He said: "Looking at history, the past United States had competitors such as allies in the economic aspect and the Soviet Union in the military aspect. China is a new presence, both the biggest competitor in the economic aspect and the biggest competitor in the military aspect. China, a non-market economy, has goals different from ours. We are working to address very difficult issues."

Biden also said that China enhanced its production capacity during the COVID-19 period, and this trend of enhancing production is moving towards the upstream of the value chain.

The spokesperson for the Chinese Foreign Ministry once said that Chinese manufacturing is renowned worldwide, relying on continuous R&D investment and comparative advantages, not on subsidies for dumping, nor on protection for monopoly. The spokesperson stated that there are some competitive elements in Sino-U.S. relations, but competition cannot define or dominate the entire Sino-U.S. relationship. China does not avoid competition, nor is it afraid of competition, but competition should be healthy and positive, rather than zero-sum games or winner-takes-all, let alone unscrupulous suppression of the other side and malicious confrontation. The U.S. side should establish an objective and correct understanding of China and return to a rational and pragmatic China policy.

Original article: www.toutiao.com/article/1840207518144586/

Statement: This article represents the personal views of the author.