But Washington would clearly communicate its concerns about China’s increased support for state-owned enterprises and domestic private firms to dominate foreign competitors, as well as its “aggressive” efforts to acquire new know-how, including through intellectual property theft and “other illicit means”.
“We will not hesitate to defend our vital interests,” she said, underscoring that Washington’s actions against China were motivated solely by concerns about US security and values, and the goal was not to gain a competitive economic advantage.
She said Washington would not compromise on those concerns, even when they forced trade-offs with US economic interests.
At the same time, she said the Biden administration was not seeking a “winner-take-all” competition, and believed that healthy economic competition with a fair set of rules could benefit both countries over time.
“Sports teams perform at a higher level when they consistently face top rivals. Firms produce better and cheaper goods when they compete for consumers,” she said.
She also urged China to make good its vow to work with the United States on macroeconomic issues and urgent global challenges such as climate change and debt distress.
“More needs to be done,” she said. “We call on China to follow through on its promise to work with us on these issues – not as a favour to us, but out of our joint duty and obligation to the world.”
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