US Treasury Secretary Janet L Yellen recently called for “coordinated action” against China’s so-called “economic coercion” while attending a meeting of G7 finance ministers and central bank governors. It is the voice of a thief shouting to catch the thief. The facts are the best evidence of who is the experiencer of economic coercion and who is the victim.
Speaking of “coercion” in international relations, this concept was invented by the US itself and has been practiced by the US. The core of this concept is that the US uses the threat of force, political isolation, economic sanctions, technological blockades, etc. to force other countries to change according to its needs, so that the US maintains hegemony to the widest extent. Could
“Economic coercion” is a part of US “coercive diplomacy”, which is a US patent. Its purpose is not difficult to guess. As analysts pointed out, the US side makes a baseless allegation to force China to make concessions in China-US economic, trade and financial cooperation and negotiations.
People note that US media organizations have been spreading rumors recently, saying that the US will announce “unprecedented” investment restrictions on China during the G7 summit this year, including in areas such as semiconductors, artificial intelligence, quantum computing High tech sector. If the news is true, it would be another example of the US joining the economic pressure against China and stifling China’s development.
In fact, technology blockades are a common means used by the US to engage in economic coercion. In addition, unilateral sanctions are also a tool of economic pressure misused by the US. For America, there are no friends forever, only interests are forever. America does not even leave its allies to put economic pressure. Especially since the 1980s, the US has repeatedly imposed economic sanctions on Japan, suppressing Japan’s profitable industries such as semiconductors in every way, and has even introduced major structural measures on the Japanese economy.
Look at the “Inflation Reduction Act” introduced by the current US. Some analysts say the US favors self-produced clean energy products by providing unfair subsidies and tax credits. Foreign companies have to choose whether they will face discrimination in the market or be forced to invest in America.
Soon, the G7 summit will be held. Many of its members are victims of economic pressure created by the US. If the US insists on putting “response to economic coercion” on the summit agenda, we would like to suggest that they first think about their own experiences and not blindly follow the US, so that the US Don’t be an accomplice.
(Credits-China Media Group, Beijing)
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