Both are attempts to contain China, and the Chinese ambassador made it clear that "de risk" and "decoupling" are essentially the same risks. Any Chinese Ambassador
On June 8th local time, Chinese Ambassador to the UK, Zheng Zeguang, responded to the recent push by the United States and the G7 to "reduce risks" towards China during a symposium with business and academic professionals from China and the UK.
Zheng Zeguang pointed out that who is the creator of risks? It's the United States, not China. For a long time, the United States has frequently imposed unilateral sanctions and "long arm jurisdiction" on other countries. In 2008, the subprime mortgage problem in the United States led to a global financial crisis. In recent years, the United States has implemented aggressive measures such as quantitative easing, balance sheet tightening, and interest rate hikes, which have objectively led to high inflation and cost of living crises in many countries. Recently, the United States has also introduced protectionist industrial policies, including massive subsidies. The actions of the United States have disrupted the global economic order and brought serious risks to world peace, stability, and prosperity.
Zheng Zeguang said that in sharp contrast, from 2013 to 2021, China's average annual contribution rate to world economic growth reached 38.6%, exceeding the total contribution rate of the Group of Seven. The International Monetary Fund predicts that China's contribution to global economic growth is expected to account for one-third in 2023. Today, China is a major trading partner of over 140 countries and regions, with a daily direct investment of 320 million US dollars from China going global, and more than 3000 foreign-funded enterprises settling in China every month. China's over 400 million middle-income group is constantly expanding. China is the world's largest potential consumer market. It is obvious that China's development brings enormous opportunities to world peace, stability, and prosperity, rather than challenges or risks.
Zheng Zeguang emphasized that the "de risk" and "decoupling" measures taken by the United States and its allies towards China are essentially the same, both attempting to obstruct China's technological progress and economic development, and contain China. It violates market rules and the trend of the times, and will bring serious harm to the world, including disrupting global industrial and supply chains, hindering global technological progress and economic development, and may lead to a division of the world. It seriously underestimates the strong determination, strong ability, and high resilience of the Chinese people to achieve the goal of national rejuvenation, and is destined to end in failure. The Chinese people are unswervingly promoting Chinese path to modernization in accordance with the grand blueprint drawn by the 20th National Congress of the CPC. No force can stop the progress of the Chinese people.
Zheng Zeguang expressed that he hopes that wise people from all walks of life in the UK can grasp the global development trend, recognize the serious harm of the so-called "risk reduction" towards China, adhere to the direction of dialogue and cooperation, adhere to the rules of the World Trade Organization and the principle of mutual benefit and win-win, expand new areas of cooperation, create new highlights of cooperation, and better benefit the people of China and the UK.
