China blasts potential US investment curbs as ‘economic coercion’

During a Thursday speech, US Treasury Secretary Janet Yellen sought to allay concerns about the new measures, saying that they were “motivated solely by our concerns about our security and values”.

But Beijing maintains the plans are intended to block its path to economic advancement as relations between the two countries continue to sour.

“The real aim of the US is to deprive China of its right to development and safeguard its own hegemony and self-interest,” Wang said on Friday.

Yellen also referred to the previously proclaimed “no-limits partnership” between China and Russia, saying it was “essential” that Beijing refrains from providing Moscow with material support for the war in Ukraine.

When asked about Yellen’s comments on Friday, Wang defended China’s position on the conflict, contrasting it with what he called “certain countries practising double standards and adding fuel to the fire”.

“China and Russia have always adhered to the principles of non-alignment, non-confrontation, and non-targeting of third parties, and have developed a new type of major-country relationship featuring mutual respect, peaceful coexistence, and win-win cooperation,” he said.

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