EU prepares to cut investment in China over its support for Russia, Biden says
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Economics
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EU prepares to cut investment in China over its support for Russia, Biden says

China
Source:  Bloomberg

As American leader Joe Biden reported, European allies are ready to reduce investments in China if China does not abandon its support for Russia's aggressor country.

Points of attention

  • China rejects NATO's accusations and insists on maintaining trade relations with Russia.
  • Biden announced the possibility of taking revenge on China for supporting the Russian Federation, which could be reflected in Europe's investment policy.
  • China began to demand that NATO refrain from interfering in the situation in Asia.

Biden announced revenge on China

What is important to understand is that during the NATO summit, the Alliance's leadership accused official Beijing of aiding the Russian Federation's war of aggression against Ukraine.

According to the US president, despite the fact that the PRC does not directly supply weapons to the Russian army, he must realize that he will face consequences "if he supplies Russia with information and capabilities."

Joe Biden also added that Chinese President Xi Jinping is still convinced that his country is a big enough market to "encourage anyone, including EU members, to invest there in exchange for commitments from Europe."

Some of our European friends will reduce their investments (in China — ed.), — Biden emphasized.

How China reacted to NATO's accusations

The authorities of the People's Republic of China claim that they have sent a protest to the Alliance in connection with accusations of sponsoring the Russian Federation's war against Ukraine.

Official Beijing cynically calls them "provocative, containing obvious lies and slander."

In addition, the representation of the People's Republic of China to the EU began to claim that the Chinese authorities, they say, seek a political settlement of the war in Ukraine and have never provided lethal weapons to any of the parties in the war.

They also add that "normal trade flows" with Russia should not be disrupted or subjected to coercion.

Moreover, Beijing began to demand that NATO stay as far as possible from Asia, which, according to him, is "a place for peaceful development, not an arena for geopolitical rivalry."

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