US President says market democracies should write global trade rules instead of China

In an opinion article for Washington Post, President Joe Biden said that the market democracies should write global rules governing trade and technology instead of China. According to the article published on June 5, Biden said that the US and Europe can work in close coordination on global challenges. He also added that the US must lead the world from a position of strength to address issues like Coronavirus, climate crisis, and the challenge posed by “harmful activities of the governments of China and Russia”. 

“While in Brussels, I'll meet with the president of the European Commission and the president of the European Council to discuss how the United States and Europe can work in close coordination on global challenges. We will focus on ensuring that market democracies, not China or anyone else, write the 21st-century rules around trade and technology. And we will continue to pursue the goal of a Europe whole, free and at peace," Biden wrote in an opinion piece.

The US President added, “Whether it is ending the COVID-19 pandemic everywhere, meeting the demands of an accelerating climate crisis, or confronting the harmful activities of the governments of China and Russia, the United States must lead the world from a position of strength”. 

Further, ahead of the G7 summit in the UK, Biden also said that it was up to the leading democracies to offer “a high-standard alternative” to China for upgrading physical, digital and health infrastructure that is more resilient and supports global development. "Just as it does at home, honing the ability of democracies to compete and protecting our people against unforeseen threats requires us to invest in infrastructure,” he added. It is worth mentioning that Biden’s remarks came after the White House issued an executive order implying the ban on the acquisition of US investors or investments targeting 59 Chinese military and surveillance companies.

‘China will take necessary measures…’

Meanwhile, in a retaliatory attack, Beijing accused the US of “suppressing” Chinese firms and threatened to take necessary steps against the country. China's foreign ministry decried the move as a "violation of market law" and an attempt to "suppress" Chinese companies. Addressing a press conference, Chinese Foreign Ministry spokesperson Wang Wenbin asked the US to “remove the so-called lusts” that aim to “suppress" Chinese firms. In case that does not happen, he warned, then "China will take necessary measures to resolutely safeguard the legitimate rights and interests of Chinese companies”. 

(With inputs from ANI)