Underlining the significance of stable relations between the United States and China, US Commerce Secretary Gina Raimondo initiated a meeting with her Chinese counterpart, Commerce Minister Wang Wentao.

Raimondo's visit to Beijing and Shanghai comes in the wake of recent visits by three other prominent officials from the Biden administration. These include Secretary of State Antony Blinken, Treasury Secretary Janet Yellen, and Climate Envoy John Kerry.

“The economic relationship between the United States and China is one of the most significant in the world. We share over $700 billion of trade,” Raimondo said in the Chinese capital.

“It is profoundly important that we have a stable economic relationship, which is to the benefit of both of our countries. And in fact what the world expects of us. It’s a complicated relationship. It’s a challenging relationship. We will of course disagree on certain issues, but I believe that we can make progress if we are direct, open and practical.”

Wang expressed Beijing's readiness to collaborate with Washington, highlighting that bilateral economic relations held significance not only for the two nations but also for the global community.

“I’m ready to work with you together to foster a more favorable policy environment, for stronger cooperation between our businesses to bolster bilateral trade and investment in a stable and predictable manner,” he told Raimondo.

In a display of optimism, both officials expressed positive sentiments. Raimondo highlighted the collaborative efforts of their teams during the summer, where they established "new information exchanges and working groups." These initiatives are anticipated to facilitate increased engagement between the two sides.

Raimondo made it clear that she wouldn't compromise or negotiate on matters linked to national security. Nonetheless, she pointed out that the majority of US-China trade was unrelated to national security concerns.

Wang concurred with Raimondo's perspective, characterizing most trade between the two nations as "benign."

According to a statement from the US Commerce Department issued before Raimondo's trip, her discussions would encompass US-China commercial relations, challenges encountered by US businesses, and potential areas for collaboration.

Analysts anticipate that Beijing will capitalize on this opportunity to advocate for the removal of US export controls and other restrictions, which have emerged as contentious issues for policymakers. A notable instance occurred last October when the US government imposed a ban preventing Chinese companies from acquiring advanced US chips and chipmaking equipment without obtaining a license. This approach has been replicated by countries such as the Netherlands and Japan under US persuasion.

China has vehemently objected to these restrictions, accusing the US of politicizing business matters.

In a conciliatory gesture last week, the US Commerce Department announced the removal of export controls for 27 Chinese firms just before Raimondo's visit. The move was met with appreciation by China's Ministry of Commerce, who deemed it beneficial for normal trade between Chinese and American companies.

While both sides remain embroiled in several contentious matters, Raimondo stressed the US's efforts to mitigate supply chain risks and enhance the nation's infrastructure. These actions align with President Joe Biden's economic strategy and are aimed at fostering a robust Chinese economy. The secretary emphasized that these initiatives were not intended to hinder China's economic advancement.

This visit by Raimondo comes in the wake of allegations made by US officials in July, claiming that she had been targeted in an email hack conducted by hackers based in China.

Image source: ANI