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G7 to ‘de-risk and diversify’ ties with China, resist economic coercion: US President Joe Biden

U.S. President Joe Biden speaks during a joint press conference with South Korean President Yoon Suk Yeol after their meeting at the White House in Washington, D.C. on Wednesday, April 26, 2023. (Yuri Gripas/Abaca Press/TNS)
May 22, 2023

US President Joe Biden on Sunday said that the Group of Seven (G7) nations are looking forward to “de-risk and diversify” their ties with China. Joe Biden said that it means resisting their economic coercion and countering the harmful practices that hurt our workers.

“We’re not looking to decouple from China. We’re looking to de-risk and diversify our relationship with China which means taking steps to diversify our supply chains so we are not dependent on any one country for necessary products. It means resisting economic coercion together and countering harmful practices that hurt our workers. It means protecting that narrow set of advanced technologies critical for our national security. Those elements were all agreed by the G7,” Joe Biden said.

Chinese ‘spy-balloon’ incident

US President also took a question about not having a military hotline with China and said he talked about that with Chinese President Xi Jinping, but then the “silly” spy balloon incident occurred.

“You are right. We should have an open hotline. At the Bali conference, President Xi and I agreed we are gonna do and meet, and then the silly balloon that was carried ……. spying equipment was flying over the United States. It got shot down and everything changed in terms of talking to one another. I think you’re going to see that begin to thaw very shortly,” US President said.

G7 stand with the people of Ukraine

On the Russia-Ukraine war, the US President said that G7 reaffirmed “our shared and unwavering commitment to stand with the brave people of Ukraine as they defend themselves against Russia’s war of aggression.” Joe Biden also shared that Ukraine President Volodymyr Zelenskyy assured him that F-16 fighter jets will not be used to target Russian territories.

US debt-ceiling negotiations

Discussing the ongoing budget negotiations in the US, President Biden emphasized that during meetings with congressional leaders, a consensus was reached, affirming that the most viable path ahead lies in the form of a bipartisan agreement. The congressional leaders also agreed that “default is not an option.”

Joe Biden mentioned that upon his return, he will meet Kevin McCarthy, the Speaker of the House of Representatives.

“Now it’s time for the other side to move from their extreme positions, because much of what they have already proposed is simply, quite frankly, unacceptable,” the US President said.

“It is time for Republicans to accept that there is no bipartisan deal to be made solely on their partisan terms. They have to move as well. All four congressional leaders agree with me that default is not an option. And I expect each of these leaders to live up to that commitment,” Biden stressed.


(c) 2023 the Mint

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