The US continues to obstruct China

The United States has again demonstrated its willingness to tighten the approach towards Beijing in the economic sphere.

The Budget Committees' hearings were held in both chambers of the U.S. Congress on June 16 and 17. The US Secretary of the Treasury Janet Yellen was among the speakers. She mostly talked about the problems emanating from China.

The Secretary didn't miss an opportunity to criticize China. The key point was that Beijing as the main economic rival of Washington employed unfair methods.

Secretary Yellen accused China of R&D active government subsidizing, conducting agressive investment policy, issuing loans to less developed countries on exploitative conditions as well as of intellectual property theft. According to the official the latter poses a serious threat to the US national security. At the same time, she recognized the impossibility of a complete economic separation from China due to the serious economic dependence of the two countries. Nevertheless, she allowed for some kind of separation in certain areas, for example, in high tech. It's no secret that China is actively stealing various know-hows, including American ones.

It is worth noting another equally important moment of Mrs. Yellen's speech about the prospects of negotiations held with Beijing on joining the G7's initiative concerning the establishment of global corporate 15 percent tax. The US Secretary of the Treasury was sure that China would demand special treatment as a country with developing economy. She was equally sure that the US wouldn't make any concessions on this issue.

We are once again witnessing attempts of the United States to undermine China's economic and technological development. Washington uses every opportunity to obstruct Beijing.