China’s ambassador to the US warned against the potential risks trying to cut the country off, using a visit to the Detroit auto show to highlight the “intertwined” interests of the world’s two biggest economies.
China’s ambassador to the United States has warned against the potential risks of trying to cut off China, using a visit to the Detroit auto show to highlight the “intertwined” interests of the world’s two biggest economies.
The interests of both nations are “intertwined”, he said, pointing out that General Motors’ latest models are “designed, developed, produced and to be sold” in China, while more China-built cars are being exported to the rest of the world.
Attendees during the 2022 North American International Auto Show (NAIAS) in Detroit, Michigan, US, on Wednesday, Sept. 14, 2022. The Detroit auto show returns this week after a three-year absence and in a downsized format, reflecting a broader shift by car companies in how they reach consumers.
Chinas ambassador to the US warned against the potential
Risks of trying to cut the country off, using a visit to the Detroit auto show to highlight the intertwined interests of the worlds two biggest economies.
To decouple with China means to disconnect from the worlds largest market as well as the biggest opportunity, Qin Gang said in an interview at the auto show Wednesday. The interests of both nations are intertwined, he said, pointing out that General Motors Co.’s latest models are designed, developed, produced and to be sold in China, while more China-built cars are being exported to the rest of the world.
The electric vehicle value chain, or specifically the supply chain, is very globalised,” he said, adding all players will continue to “work in accordance with economic laws”.
China and the US are sparring on several trade fronts.
The Biden administration earlier this month said it would allow Trump-era tariffs on hundreds of billions of dollars of Chinese imports to continue while it reviews the need for the duties.
The US has also placed export curbs on advanced computer chips to China and is seeking to reduce reliance on Chinese materials in the EV supply chain, particularly batteries. BLOOMBERG
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