US President Joe Biden said on Thursday that China knows its economic future is tied to the West after warning Chinese leader Xi Jinping that Beijing could regret Russia’s invasion of Ukraine.

“I made no threats, but I made it clear to him — made sure he understood the implications of helping Russia,” Biden told reporters of his conversation with Xi Friday.

“I pointed to the number of American and foreign companies that left Russia as a result of their barbaric behavior.”

The Biden administration has pressured China not to support Russia, including helping it counteract Western sanctions and providing military assistance.

China has not condemned Russia’s actions in Ukraine, although it has expressed deep concern about the war and Western sanctions, which it sees as counterproductive and one-sided.

Biden’s comments pointed to the economic interdependence of China and the United States, their largest trading partner.

That’s leverage Washington wants to use to push China away from Russia after the two countries touted a borderless strategic partnership in February. But any sanctions or other countermeasures against Beijing would also have spillover effects on the US economy, experts say.

Still, according to the Institute of International Finance, there are already signs that the Sino-Russian relationship is hurting foreign investment in China, including significant capital flows out of the country since Russia’s February 24 invasion of Ukraine.

“China understands that its economic future is much more closely tied to the West than it is to Russia,” Biden told a news conference on the sidelines of emergency meetings in Europe about the war in Ukraine.

By Jarrett Renshaw @ Reuters



Source: Vietnam Insider

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