Washington: US President Joe Biden for the first time has threatened China in a very strong manner for having relations with Russia. Biden said that China will have to bear the consequences of helping Russia in the war against Ukraine. Biden also said that some European countries are going to cut their investment in China. The US President told reporters here, “We have to ensure that Xi Jinping (President of China) understands that there will be a price to pay for harming Europe along with the Pacific Basin. The same is true for the issue of Russia and Ukraine. ”
He said, “For example, if you want to invest in China, then it is necessary to have 51 percent stake of China in it, you have to ensure that you work according to their rules and give them access to all the data and information you have.” That market seemed very attractive to companies, because there was access to more than a billion people. Biden said, “They were doing this but when we started saying that we will also work by the same rules, then it decreased.
For example, they do not follow international rules regarding subsidizing products by government financing. So thus they will not be able to export their electric vehicles to the US without any significant duty. Other countries are also doing the same around the world, but it is a matter of concern.
Biden said – we have a strategy to deal with China. Countries like China, North Korea, Russia, Iran may not have coordinated in the past, they are trying to figure out how they can influence. ” In response to a question, he said that he has a strategy to deal with China. He said, “I will not talk about it in detail publicly. As long as China continues to indirectly support Russia in terms of helping its economy and also helps in their ability to fight in Ukraine, you will see that some of our European friends will reduce their investment in China.
