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US Secretary of State Antony Blinken (L) shakes hands with China's Director of the Office of the Central Foreign Affairs Commission Wang Yi at the Diaoyutai State Guesthouse in Beijing on June 19, 2023. (Photo by Leah MILLIS / POOL / AFP) (Photo by LEAH MILLIS/POOL/AFP via Getty Images)Secretary of State Antony Blinken on Friday emphasized the need for the U.S. and China to avoid "miscalculations" and "misunderstandings." Speaking in Beijing ahead of a closed-door meeting with Chinese Foreign Minister Wang Yi, Blinken said there is no substitute for "face-to-face diplomacy." Both sides need to make sure "that we're as clear as possible about the areas where we have differences, at the very least to avoid misunderstandings, to avoid miscalculations," he told reporters. In his remarks, Wang told Blinken that U.S.-China relations are "beginning to stabilize" with increased dialogue and cooperation.
Persons: Antony Blinken, Central Foreign Affairs Commission Wang Yi, Leah MILLIS, LEAH MILLIS, Wang Yi, Blinken, Wang, Joe Biden, Xi Jinping, Xi —, — Biden Organizations: Central Foreign Affairs Commission, Getty Images, U.S, Foreign, Economic Cooperation Locations: Diaoyutai, Beijing, China, Washington, San Francisco, Asia, U.S
There was a risk, he said, that US-China relations could "return to a downward spiral." As such, the US-China relationship appears to have entered a dangerous period, and time may be running out to save it. The US has handed Ukraine billions in aid and military support to resist the invasion, with a new $61 billion bill passing this week. AdvertisementBlinken said he raised concerns about China's support for Russia in its invasion of Ukraine. Blinken will have to overcome several hurdles for US-China relations to improve.
Persons: , Antony Blinken's, Xi Jinping, Wang Yi, Xi, Joe Biden, Ali Wyne, Wang, Blinken, Ian Bremmer Organizations: Service, Business, US, West, International Crisis, Russia, Eurasia Group, Bloomberg Locations: China, Ukraine, loggerheads, Taiwan, Washington, Beijing, US, Western Europe, Russia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S.-China relations are 'dangerous' but better managed, says Longview Global's Dewardric McNealDewardric McNeal, managing director and senior policy analyst at Longview Global, Nicholas Lardy, senior fellow at Peterson Institute for International Economics join CNBC's 'The Exchange' to discuss Secretary Blinken's visit to China, industrial policy, and more.
Persons: Dewardric McNeal Dewardric McNeal, Nicholas Lardy, Blinken's Organizations: U.S, Longview Global, Peterson Institute for International Economics, CNBC's Locations: China, Longview
Yellen: US economy strong, not overheated
  + stars: | 2024-04-25 | by ( Alicia Wallace | ) edition.cnn.com   time to read: +3 min
Yellen on Thursday was interviewed by Reuters’ editor in chief Alessandra Galloni as part of the news organization’s NEXT Newsmakers series. “The economy is clearly performing very well,” Yellen said. Yellen said the weaker reading was not “concerning,” mentioning that measures of underlying growth were strong in Thursday’s report. Economic growth has remained historically strong in the face of elevated inflation, high interest rates and geopolitical tensions. “I believe the fundamentals here are in line with inflation continuing downward toward a normal level,” Yellen said.
Persons: Janet Yellen, Alessandra Galloni, ” Yellen, , Yellen, Joe Biden, Katherine Tai, Tai Organizations: CNN, Reuters, Commerce Department, Federal Reserve, US Trade Locations: Yellen, Ukraine, US, China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCFRA's Michael Froman on trade conflict with China: There's a real train wreck coming hereMichael Froman, Council on Foreign Relations President and former U.S. Trade Representative in the Obama administration, joins 'Squawk Box' to discuss Secretary of State Antony Blinken's trip to China, state of U.S.-China relations, impact of a potential TikTok ban, and more.
Persons: Michael Froman, Obama, Antony Blinken's Organizations: Foreign Relations, U.S . Trade Locations: China, U.S
The top US diplomat landed in Shanghai where he is expected to meet local officials and business leaders, and he will then travel to Beijing for meetings with senior Chinese officials. “We are in a different place than we were a year ago when the bilateral relationship was at an historic low point,” a senior State Department official said. “Russia is no longer kind of on its back foot,” a second senior State Department official said. Blinken will make the case that China should weigh in “more directly” with Iran to be less provocative in the region, the second senior State Department official said. “In both cases the Chinese have taken some early steps,” said the second senior State Department official, adding that there is still “much more” that needs to be done on both fronts.
Persons: Antony Blinken, Joe Biden, Xi Jinping, Janet Yellen, Biden, Xi, , , ” Blinken, Matthew Miller, Leah Millis, China’s, ” Xi, Blinken, ” Miller, it’s, Mark Swidan, Kai Li, David Lin Organizations: CNN, State Department, Ukraine, US, Foreign Ministry, of, People, Biden, Chinese Foreign Ministry, ASEAN, Association of Southeast Asian Nations, Beijing, Party, Taiwan, Communist, Taiwan Relations, White Locations: China, Ukraine, Shanghai, Beijing, California, Russia, Moscow, Italy, “ Russia, , Europe, United States, South China, Philippine, Washington, Philippines, South, Taiwan, Taiwan Strait, East, Iran
US and China's engagements don't mean they trust each other more, said Eurasia Group's Ian Bremmer. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But just because they're talking more doesn't mean that they actually trust each other more, an analyst said on Wednesday. Earlier this month, Treasury Secretary Janet Yellen visited China, seeking cooperation in areas beneficial to both countries. Advertisement"It's always better to have more engagement, more conversations — especially when you don't trust each other," Bremmer said.
Persons: Ian Bremmer, , Joe Biden, Xi Jinping, there's, Bremmer, Janet Yellen, Lloyd Austin, State Anthony Blinken, William Lai — Organizations: Service, Eurasia Group, Bloomberg, APEC, Defense, State Locations: Eurasia, Ian Bremmer . Washington, China, Taiwan, San Francisco, US, Washington, Taiwan —, Beijing
New York CNN —JPMorgan Chase CEO Jamie Dimon is worried about the future of the free world. “The geopolitical situation is probably the most complicated and dangerous since World War II,” Dimon said during a talk at the Economic Club of New York on Tuesday. “The world order that formed after WWII, Bretton Woods, WTO [the World Trade Organization], and the UN is kind of being challenged,” he said. This is not the first time Dimon has warned that the world is on the brink of a massive realignment. The country’s national debt is now over $34.5 trillion, or about $103,000 for every American.
Persons: Jamie Dimon, ” Dimon, Dimon, Bretton, , That’s, , Jerome Powell, Niall Ferguson, Chris Isidore, Tesla, Elon Musk, Jeanne Sahadi, Joe Biden, “ won’t Organizations: CNN Business, Bell, New York CNN, JPMorgan, Economic, of New, World Trade Organization, UN, AAA, NATO, Atlantic Treaty Organization, Federal, Federal Trade Commission, FTC, of Commerce Locations: New York, of New York, Ukraine, NATO, Israel, US, China, Bretton Woods, WTO, Russia
But among the crowds you and I together are protecting national security,” the narrator concludes. Chinese soldiers look at a poster promoting national security in the southwestern city of Beihai on National Security Education Day on April 15, 2024. CFOTO/Future Publishing/Getty ImagesAccording to the MSS, foreign spies are omnipresent and infiltrating everything – from mapping apps to weather stations. But China’s spy agency has gradually stepped out of the shadows as Xi makes national security a key priority. “Shenyin Special Investigation Squad” is a comic series based on real-life counterespionage operations, according to China's spy agency.
Persons: , , , Xi, Xuezhi Guo, Sheena Chestnut Greitens, Xi Jinping, Greg Baker, Mao Zedong, Greitens, Chen Yixin, Chen, “ Chen, ” Greitens, Xi –, denigrate, Bain, Alex Plavevski, Guo, influencers, China’s, can’t, James Zimmerman, Perkins Coie, Zimmerman, ” Zimmerman Organizations: Hong Kong CNN, National Security Education, , Ministry of State Security, National Security, Publishing, CIA, National, Education, Capitol, Guilford College, Asia, University of Texas, Getty, Communist Party, FBI, National Security Propaganda, CCTV, Ministry of State, China’s National Security Commission, Group, China Development Forum, Perkins Coie LLP, , MSS Locations: China, Hong Kong, Beihai, British, American, Beijing, Austin, AFP, Zhejiang province, Shanghai, New York, overreaching
Blinken will meet with senior Chinese officials in both Shanghai and Beijing during his April 24-26 visit, the official said. The official said Blinken has “three primary objectives for his trip to China.”“First, making progress on key issues; second, clearly and directly communicating concerns on bilateral regional and global issues; and third, responsibly managing competition,” the official said. Blinken, he continued, “will also reaffirm the importance of peace and stability across the Taiwan Strait.”During Blinken’s trip to China last June, he met in Beijing with top officials, including President Xi Jinping. The call came amid heavy global turbulence — the ongoing wars in Gaza and Ukraine, as well as North Korea’s nuclear capabilities, were topics of discussion. The two also spoke about issues that have strained the Washington-Beijing relationship, including Taiwan, China’s recent provocations in the South China Sea and Beijing’s human rights abuses.
Persons: Antony Blinken, Joe Biden, Xi, , , Blinken, Xi Jinping, Wang Yi, MJ Lee, Donald Judd Organizations: CNN, Biden, Russia, State Department, US Locations: China, Washington, Beijing, American, Shanghai, Iran, Israel, South China, , Taiwan Strait, Gaza, Ukraine, Taiwan, South
Read previewPresident Joe Biden on Wednesday pitched his version of US-China relations to steelworkers in Pennsylvania — that Beijing isn't only failing to catch up, but struggling on its own. "They've got a population that is more people in retirement than working," Biden said of China. Those were some of the harshest comments Biden has ever made about China, though it's unclear how the president calculated his retirement figures. Instead of posturing himself a Mr. Fix-It, or a lone warrior fighting the good fight against a strong Beijing, Biden on Wednesday told blue-collar workers that the competition, as it stands, already favors America by a landslide. AdvertisementThe metals industry provides more than 120,000 jobs in Pennsylvania and some $33 billion in economic output, per an April 2023 report published by the Pennsylvania Steel Alliance.
Persons: , Joe Biden, They've, Biden, Donald Trump, Trump, I've, China's, Biden shied Organizations: Service, Wednesday, steelworkers, US Steelworkers, Business, Republican, US Steel, Japanese Nippon Steel, American, Pennsylvania Steel Alliance . Pennsylvania Locations: China, Pennsylvania —, Beijing, Pittsburgh, Washington, America, Pennsylvania
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEuropeans cannot afford to stay out of China relationship, analyst saysPhilippe Le Corre, senior fellow at the Asia Society Policy Institute's Center for China Analysis, discusses German Chancellor Olaf Scholz's China visit.
Persons: Philippe Le Corre, Olaf Scholz's Organizations: Asia Society, Center for Locations: China, Center for China, Olaf Scholz's China
U.S. considers easing warnings for Americans traveling to China
  + stars: | 2024-04-10 | by ( ) www.cnbc.com   time to read: +2 min
The U.S. and China flags are seen at the People's Bank of China prior to the arrival of U.S. Treasury Secretary Janet Yellen in Beijing on April 8, 2024. Pedro Pardo | AFP | Getty ImagesThe U.S. is considering easing advisories against its citizens traveling to China, Deputy Secretary of State Kurt Campbell said on Tuesday, acknowledging concerns that the warnings may have curtailed exchanges between Americans and Chinese people. The State Department has periodically issued tiered warnings for Americans traveling to China, calling on them to reconsider visits or exercise increased caution due to risks of "arbitrary enforcement of local laws," exit bans and wrongful detentions. Despite China's warnings, hundreds of thousands of Chinese students study in the United States compared with only a few hundred Americans in China. "We have told China directly if this continues, it will have an impact on the U.S.-China relationship.
Persons: Janet Yellen, Pedro Pardo, Kurt Campbell, Campbell Organizations: U.S, People's Bank of, Treasury, AFP, Getty, China Relations, State Department, . Locations: China, People's Bank of China, U.S, Beijing, Washington, Ukraine, United States, Moscow
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. Amb. to Japan Rahm Emanuel: China's most persistent & pernicious economic strategy is coercionRahm Emanuel, U.S. Ambassador to Japan, joins 'Squawk Box' to discuss the state of U.S.-Japan relations ahead of the U.S.-Japan summit between President Biden and Japanese Prime Minister Fumio Kishida, U.S.-China relations and doing business in China, and more.
Persons: Japan Rahm Emanuel, Rahm Emanuel, Biden, Fumio Kishida Organizations: U.S, U.S ., Japanese Locations: Japan, U.S, China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer SEC Chairman Jay Clayton on U.S.-China relations, TikTok bill and Elon MuskFormer SEC Chairman Jay Clayton joins 'Squawk Box' to discuss the state of U.S.-China relations, fate of the TikTok bill in Congress, whether the social media app is a national security threat, Elon Musk defying Brazil's court order take down some far-right accounts on X, and more.
Persons: Jay Clayton, Elon Musk Organizations: SEC, Elon Musk Locations: U.S, China
Why gold prices are at record highs
  + stars: | 2024-04-09 | by ( John Towfighi | ) edition.cnn.com   time to read: +6 min
Central banks see gold as a long-term store of value and a safe haven during times of economic and international turmoil. When interest rates fall, gold prices tend to rise, as bullion becomes more appealing than income-paying assets like bonds. Investors also regard gold as a hedge against inflation, betting bullion will retain its value when prices rise. The People’s Bank of China bought gold for the 17th straight month in March, adding 160,000 ounces to bring reserves to 72.74 million troy ounces of gold, according to Reuters. Higher oil prices are likely to stoke concerns over inflation, boosting gold prices, according to the UBS research note.
Persons: China —, Ulf Lindahl, Lindahl, Morgan, JP Morgan, Janet Yellen’s, Yellen, Mark Zandi, Jerome Powell, Wells, Richard Galanti, It’s Organizations: New, New York CNN, Investors, Federal Reserve, China, People’s Bank of China, Reuters, UBS, Research Associates, Moody’s, of Commerce, Costco Locations: New York, China, India, Turkey, Central, Wells Fargo
In today's big story, we're looking at how China's plan for reinvigorating its economy has the rest of the world worried . The country is overproducing goods and then flooding global markets with them to save its struggling economy, writes Business Insider's Huileng Tan. Decades ago, as the country opened up its economy, China underwent rapid industrialization, allowing it to produce cheap goods. AdvertisementUS Treasury Secretary Janet Yellen has already warned China shock 2.0 could destabilize the global economy, specifically impacting green-energy exports . He pointed to China's GDP growth outpacing the US when the numbers are adjusted for disinflation and inflation in each country, respectively.
Persons: , Chelsea Jia Feng, Huileng Tan, Huileng, China's, Janet Yellen, Tyler Le, Ray Dalio, that's, it's, Dalio's, Nicholas R, Lardy, Donald Trump, M, There's, Angus Deaton, Walter Huang, Sevonne Huang, Justin Sullivan, Alyssa Powell, Tesla, Hubspot, Mikel Jaso, Zers, That's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, Business, West, New York Federal Reserve, Bridgewater Associates, Getty, Apple, Reuters, Google, McKinsey Locations: China, Glendale, Ariz, New York, London, Chicago
“China is now simply too large for the rest of the world to absorb this enormous capacity,” Yellen told reporters Monday. US intelligence has warned that China is providing technology and equipment to Russia that is important to Moscow’s war in Ukraine. During her last visit to Beijing, Yellen dramatically boosted business for a Yunnan restaurant chain and its mushroom dish after her delegation was spotted dining there. “As a US official, Yellen needs to know more about China than just its food. Only by understanding China better, can she correct the US worldview and its views of China and China-US relations.”
Persons: Janet Yellen, Yellen, Joe Biden, Xi Jinping, , China Nicholas Burns, Pedro Pardo, Li Qiang, ” Yellen, Li, Biden, , Mao Ning, Xi, CNN’s Marc Stewart, we’ve, Andy Wong, “ Yellen, Tao Tao Organizations: Hong Kong CNN, Russia, China's, Getty, Vice, Foreign Ministry, Treasury Department ., Ukraine, China’s, Ministry, Locations: China, Hong Kong, Guangzhou, Beijing, United States, AFP, Washington, Xinhua, Russia, Ukraine, Treasury Department . China, San Fransisco, , Yunnan, Weibo
U.S.-China ties: More tariffs are likely, analyst says
  + stars: | 2024-04-04 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S.-China ties: More tariffs are likely, analyst saysPaul Triolo, senior vice president for China and technology policy lead at Albright Stonebridge Group, discusses U.S.-China relations ahead of U.S. Treasury Secretary Janet Yellen's visit to China.
Persons: Paul Triolo, Janet Yellen's Organizations: U.S, Albright, Group, Treasury Locations: China, U.S
Ex-diplomat Kishore Mahbubani discusses U.S.-China relations
  + stars: | 2024-04-04 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEx-diplomat Kishore Mahbubani discusses U.S.-China relationsKishore Mahbubani, a distinguished fellow at the National University of Singapore's Asia Research Institute, discusses U.S.-China relations ahead of U.S. Treasury Secretary Janet Yellen's visit to China.
Persons: Kishore Mahbubani, Janet Yellen's Organizations: National University of Singapore's Asia Research Institute, Treasury Locations: China, U.S
President Joe Biden spoke with Chinese President Xi Jinping on the phone Tuesday, a call the White House described as a way for the two leaders to "check in" and responsibly manage the strained U.S.-China relationship. During the call with Xi, the first such phone meeting since July 2022, Biden raised a host of U.S. concerns, according to a White House readout of the call. Specifically, Biden confronted Xi on China's "unfair trade policies and non-market economic practices," the White House said. The last time Biden and Xi met in person was in November, on the sidelines of a summit in Woodside, California. "To take it back to that meeting last November, both President Biden and President Xi agreed that they would try to pick up the phone a bit more," the senior administration official said.
Persons: Joe Biden, Xi Jinping, Xi, Biden, Janet Yellen, Antony Blinken, Yellen Organizations: White, U.S ., Russia, U.S, Treasury, Treasury Department, Trump Locations: U.S, China, Taiwan, Ukraine, November's, Woodside , California, Guangzhou, Beijing, United States, Washington
It is about verifying, as the president says,” the official told CNN when asked about Xi’s pledge that Beijing will not interfere in the US’ 2024 election. The Biden administration plans to continue stressing to Beijing the US’ grave concerns about Chinese efforts to hack US critical infrastructure, the official said. “We would hope there would be a chance for another in-person meeting” in the near future, the senior administration official said. A Treasury official told reporters Monday she planned to have frank discussions on what the administration considers “unfair” trade practices from China. In January, Sullivan met with the Chinese foreign minister in Bangkok, and Blinken met with the Chinese official in Munich in February.
Persons: Joe Biden, Xi Jinping, Biden, , Antony Blinken, Xi, Xi –, Jake Sullivan, Vladimir Putin, , Yellen, Janet Yellen, Sullivan, Blinken, Lloyd Austin, CNN’s Sam Fossum, Arlette Saenz Organizations: Washington CNN, White, Biden, CNN, Treasury, Defense Locations: Gaza, Ukraine, Washington, Beijing, Taiwan, South, Taiwan Strait, China, Woodside , California, California, , Russia, Guangzhou, Bangkok, Munich
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFmr. Commerce Sec. Carlos Gutierrez: We're going to outcompete China with innovation, not sanctionsFormer U.S. Commerce Secretary and Kellogg CEO Carlos Gutierrez joins 'Squawk Box' to discuss China's high-level meetings with U.S. business leaders, the state of U.S.-China relations, China's national security threat, and mroe.
Persons: Carlos Gutierrez, We're, Kellogg Organizations: U.S . Commerce Locations: China, U.S
Last month, the House passed a bill that would require TikTok’s parent company to sell its U.S. business to a company without ties to the Chinese government, or face a ban of the TikTok app in the United States. In Washington, which has become increasingly hawkish toward the Chinese government, worries and fears about the Chinese Communist Party’s role in ByteDance are widespread. But outside Capitol Hill, millions of people — especially younger Americans — use TikTok everyday for entertainment and increasingly for search. Representative Mike Gallagher, the Wisconsin Republican, is a co-sponsor of the legislation — he’s about to leave Congress but if this becomes law, it will have an effect on social media and U.S.-China relations long after his departure. Many lawmakers in both parties are concerned about the effects of social media on teens.
Persons: Mike Gallagher, Donald Trump’s Organizations: Communist, Wisconsin Republican Locations: United States, Washington, ByteDance, Hill, China
In China, which is angling to produce its own chips or get more from Nvidia, no dominant gen AI contender to OpenAI has emerged yet among dozens of Chinese tech titans and startups. Last year, funding of gen AI upstarts accounted for nearly half of $42.5 billion invested globally in artificial intelligence companies, according to CB Insights. "China is at a big disadvantage in building the foundation models for Gen AI," said Rui Ma, an AI investor and co-founder of investment syndicate and podcast TechBuzz China. China does have the tech talent to make a difference in the AI rivalry in the years ahead. Additionally, among top-tier AI researchers working at U.S. institutions, 38% have China as their country of origin, compared with 37% from the U.S.New Chinese gen AI market entries can also reach mass adoption quickly.
Persons: Ernie Bot, OpenAI, Paul Triolo, Jenny Xiao, Rui Ma, Triolo, Sora, Ma, Marco Polo, Baidu's, Ernie, Leong Organizations: Global, Trade, Hangzhou International, Nvidia, tech titans, titans Microsoft, Google, Amazon, U.S, Dentons Global Advisors, Leonis Capital, OpenAI, Paulson Institute, U.S ., Samsung, Apple, Baidu Locations: Hangzhou, Zhejiang Province, China, Washington ,, Silicon, San Francisco, The U.S, U.S, OpenAI
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