Wang Yi, the Foreign Minister, and Chinese State Councilor said in New York that while China has no intention of unseating the United States as China expect from America to remove all unreasoning restrictions. Wang said that the relations of U.S-China today have once more come to crossroads, his translator told after translating from Mandarin-language at a dinner co-hosted by the US-China Business Council and the National Committee on US-China Relations.
Furthermore, Wang said that as his country open broader to the United States and the remaining world, so they expect the same thing from the United States to do and remove all unreasonable restrictions. In a single word, the reform achievement and efforts of China have recognized widely. They should not intentionally deny or ignored. The Foreign Minister of China added, China has no aim to play the game of thrones on the stage of the world.
The remarks of Wang came as the two largest economies of the world locked in prolong trade war based on complaints of the United States about its trade deficit with China as well as lack of equal access to the domestic market.
Foreign firms in China
The foreign enterprises usually claim they forced to handover main tech so that they become functional in China. Also, access is uneven. One example is Visa and Mastercard that struggled for many years to get entrance into the Chinese market, whereas state-managed UnionPay extended internationally. However, others like Google search banned in China.
The government of China took steps during the last two years to increase foreign access to industries like securities brokerages and passed a new law of foreign investment to improve the protection of intellectual property and bound forced technology transfers. According to the released survey from the Shanghai American Chamber of Commerce showed that huge access to the local market was top on the wish list of respondents for any trade deal.
Moreover, the high-level trade talks’ next round expected to happen at the start of October in Washington, D.C. Wang hoped the dialogs would produce a positive output and enhanced the America business opportunity in working with China. He said, the trade conflict between the world’s two largest economies during the last year-imposed losses on both nations.
Huawei on U.S. Entity List
Along with imposing duties on Chinese goods of worth billions of dollars, the United States also put the Chinese tech giant Huawei on its Entity list, according to which the company banned to buy products from the U.S. suppliers. In the response, China threatened that it would release an unreliable entity list to impose duties on the United States products.
Wand added, the vast infrastructure project of China, the Belt & Road Initiative, not targeted at the U.S. According to the National Committee on the United States and China Relations, the foreign minister of China was attending the UN General Assembly in New York and his Tuesday remarks were his only words on the China-U.S. relationship during the visit.