U.S. Treasury Secretary Yellen called on the United States and Europe to form a united front against China’s “unfair economic practices” and “human rights abuses. China expressed its displeasure and opposition to this.
Yellen made the call for a united front between the U.S. and Europe during a meeting with European Union officials in Brussels on Tuesday (July 13). She said President Biden is working to restore the traditional bilateral alliance. It was Yellen’s first visit to Europe since becoming Treasury secretary.
“We need to work together to address the threats to openness, fair play, transparency and accountability,” she said.
Yellen said, “These threats include China’s unfair economic practices, malicious behavior and human rights abuses.” “The more we confront these threats through concerted action, the more successful we will be.”
In addition to that, Yellen named Belarus and Russia for human rights suppression and other malicious acts. U.S. financial media Bloomberg said it was the first time Yellen had made sharp criticism of Moscow and Beijing.
China reacted strongly to Yellen’s remarks. Chinese Foreign Ministry spokesman Zhao Lijian said on Tuesday (July 13) that China “expresses strong dissatisfaction and resolute opposition” to Treasury Secretary Yellen’s remarks. Zhao Lijian countered that the United States often resorts to “bullying sanctions” and “long-arm jurisdiction”. According to Zhao, such practices are “truly unfair.
The Communist Party denies that China has violated WTO rules by stealing technology from the U.S., Europe or other countries, or pressuring companies in those countries to hand over technology in order to protect its immature technology development and other industries from foreign competition.
Observers point out that in the past, China knew it was not doing well on issues such as human rights and intellectual property violations, and its response to international criticism was relatively mild. But in recent years, as the war-wolf style has spread, Chinese officials of all stripes have taken a very different approach to such issues than in the past, which is outright denial. For example, on the issue of genocide against the Uighur minority in Xinjiang, Beijing initially denied it, but in the face of overwhelming evidence, it admitted the existence of the facilities in question, though arguing that they were ad hoc vocational and technical training centers for Uighurs, and then went further to say that the centers also had a mission to help Uighurs eliminate extremism from their minds and nip terrorism in the bud .
In the last two years, however, Chinese media, official spokesmen and diplomats have united in their denial of the arbitrary detention of millions of Uyghurs.
The United States and the European Union have imposed travel bans and financial sanctions on Chinese officials suspected of involvement in the Xinjiang genocide.
Yellen arrived in Brussels on Sunday afternoon on a flight from Italy. She was in Venice, Italy, to attend the G-20 finance meeting. At the meeting, delegates agreed on the lowest corporate income tax rate in the world. Under this tax law change regulation, multinational corporations will be subject to a minimum income tax of 15 percent regardless of location. This eliminates the legal loophole for corporate tax avoidance.