Mon, 25 Jan 2021

Washington DC [US], December 1 (ANI): The United States and Europe must decide how they will ensure the international system will adhere to its values in the face of China's unfair trading practices, murky investment, and political interference, according to a report by the chairman of the US Senate Foreign Relations Committee.

"The United States and Europe on the one hand, and China on the other, have very different visions of what the world should look like. This competition of ideas and of systems touches on our political and cultural values, our economic prosperity, and our security," said the US Senate report titled " A Concrete Agenda for Transatlantic Cooperation on China.""The United States and Europe must decide how we will ensure the international system maintains its commitment to its values, even in the face of China's unfair trading practices, murky and corrupt investment, and political interference to advance its authoritarian ends," the report added.

This report comes as experts have suggested that the incoming Joe Biden administration might impose sanctions thus affecting the Chinese economy next year.

David Li Daokui, a professor at Tsinghua University and a former adviser to China's central bank, according to South China Morning Post warned that economic planners should not rule out the possibility of a Trump comeback in 2024 and added that President-elect Biden might "continue Trump's hard-line approach to China."Further talking about the growing Chinese threat, the US Committee report said that "Neither side of the Atlantic can respond to the challenges China poses alone. The only way forward is to work together. Transatlantic security and prosperity require that we renew our commitment to each other and pledge to use all of our combined tools to succeed."It also states that the degree to which China can dominate the Indo-Pacific will have a direct impact on its ability to project power globally.

"As a result of the region's growing economic and political weight, the opportunities presented by robust alliances and partnerships, and China's more assertive and coercive regional posture, the United States has determined that the Indo-Pacific is a top foreign policy priority," the report said.

This report by the Senate Foreign Relations Committee comes amid China's growing belligerence in its neighborhood and beyond. Tension has been rising over the issue of Hong Kong security legislation, trade, Beijing's military aggression, and the COVID-19 pandemic. (ANI)

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