Today: Sunday, 29 January 2023 year

The United States was accused of economic coercion in China.

The United States was accused of economic coercion in China.

The United States is using discriminatory and unfair methods against enterprises in other countries, politicizing technology issues, which is blatant economic coercion and technological intimidation, Chinese Foreign Ministry spokesman Wang Wenbin said at a briefing on Wednesday.

Earlier, Bloomberg, citing sources, said that the United States could impose sanctions this week on more than 30 Chinese companies, including chipmaker Yangtze Memory Technologies, adding them to the black list of the country’s Commerce Department. The agency noted that the imposition of sanctions could lead to a further escalation of the conflict between the US and China in the field of technology.

“The United States has repeatedly generalized the concept of national security, abused export controls, resorted to discriminatory and unfair methods against enterprises of other countries, politicized and weaponized technological issues, which is blatant economic coercion and technological intimidation,” the diplomat said.

Wang Wenbin stressed that “the actions of the United States have seriously damaged the normal trade and economic relations and cooperation between Chinese and American enterprises, seriously damaged market rules and the international economic and trade order, and endangered the stability of global production and supply chains.”


According to him, this does not correspond to either Chinese or American interests, or the interests of the rest of the world.

“China will resolutely protect the legitimate rights and interests of Chinese enterprises and institutions,” Wang added.


In October, the United States reported that Washington had imposed export restrictions on three dozen Chinese companies, including manufacturers of products for the production of supercomputers and semiconductors. U.S. President Joe Biden also signed into law a $52.7 billion bailout for U.S. semiconductor manufacturers to strengthen its position in competition with China.