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U.S. Secretary of State Discusses Trade Practices with Shanghai Officials

by Geraldine S.
04/26/2024
in Global Trade, Trade Policies

SHANGHAI (AP) — During his visit to Shanghai, U.S. Secretary of State Antony Blinken addressed issues related to what the U.S. considers unfair Chinese trade practices in discussions with local government officials. Meeting with Shanghai’s Communist Party Secretary Chen Jining on Thursday, Blinken expressed concerns about China’s trade policies and its economic practices, which the U.S. views as non-market based. The State Department reported that Blinken emphasized the United States’ desire for healthy economic competition and equitable conditions for U.S. workers and firms operating in China. The meetings also touched on the broader relationship between the two countries, highlighting the importance of connections through educational, scholarly, and business exchanges.

China’s significant trade surplus with the U.S., accusations of intellectual property theft, and practices perceived as discriminatory against U.S. businesses have historically fueled tension between the two nations. On the other hand, China has voiced strong objections to U.S. stances on human rights and its support for Taiwan, which Beijing claims as its territory. In response to Blinken’s remarks, Chinese Foreign Ministry spokesperson Wang Wenbin defended China’s trade practices, stating that China conducts its economic activities in line with market principles and adheres to World Trade Organization rules. Wang expressed hope that the U.S. would also respect fair competition principles and contribute to fostering a stable environment for the development of China-U.S. economic and trade relations. During his stay, Blinken also engaged with students and business leaders before departing for Beijing for further discussions with top Chinese officials, including Foreign Minister Wang Yi and possibly President Xi Jinping.

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His visit follows recent diplomatic engagements between the two countries and comes after U.S. President Joe Biden signed a substantial foreign aid package, elements of which have been met with disapproval by Beijing, including measures related to Taiwan and the South China Sea. Despite these points of contention, Blinken’s trip signifies a willingness on both sides to engage directly and manage differences responsibly. “We have an obligation to our people, indeed to the world, to manage the relationship between our two countries responsibly,” Blinken remarked. The recent dialogues, including a call between Presidents Biden and Xi, have been seen as positive steps toward the stable and healthy development of bilateral relations, as noted by Chen Jining. Chen expressed his hope that Blinken’s visit would deepen his understanding of Shanghai, a global financial hub and dynamic metropolis.

Blinken’s visit to China continues as the two countries navigate complex trade issues, including concerns over potential overcapacity in key Chinese industries that might impact global markets. His trip also included cultural engagements, such as attending a local basketball game, underscoring the multifaceted nature of U.S.-China relations amid ongoing diplomatic efforts.

Stay informed with supply chain news on The Supply Chain Report. Learn more about international trade at ADAMftd.com.

#InternationalTradeNews #GlobalPoliticsNews #USChinaRelations #BlinkenVisit #ForeignPolicyNews

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