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中美快訊

CUSEF Express - June 1, 2022

2022-06-01
Daily highlights of developments that affect China and the U.S.
Daily highlights of developments that affect China and the U.S.

Wang Yi warns of further deteriorated bilateral relations

  • At the online symposium of "Dr. Kissinger and China-U.S. Relations" on Tuesday, Chinese Foreign Minister Wang Yi said “The China-U.S. relationship cannot deteriorate further, and the right choice must be made.” (Ch/En) He added that the U.S. anxiety about China is “completely unnecessary.” The meeting was organized by the Chinese People’s Institute of Foreign Affairs days after the 99th birthday of the former U.S. Secretary of State Henry Kissinger. Dr. Kissinger also spoke at the event, urging (Ch) the two countries to find a way to co-exist and avoid confrontation.
  • Highlighting the crucial enabler of the normalization of U.S.-China relations, the symposium appeared to be a message expressing China’s wish to resume bilateral relations back to the 1970s. However, with China being the second-largest economic power only next to the U.S., that kind of amity is unlikely in the near future.
  • Top Chinese experts see that. The recently-unveiled report (Ch summary) by the Chongyang Institute for Financial Studies of Renmin University described three scenarios that China-U.S. relations could lead to — a comprehensive military confrontation, a complete decoupling, and ongoing tensions between the two countries.

U.S. will send Ukraine advanced rocket system

  • U.S. President Joe Biden confirmed that his administration would send longer-range rocket systems to Ukraine as part of its $700 million security package to support Kyiv in the war against Russia. Biden announced the plan in a guest essay in the New York Times, saying that the aid would enable Kyiv to “more precisely strike key targets on the battlefield in Ukraine.”
  • Although the president on Monday denied that the U.S. would send "rocket systems that can strike into Russia," the promise sounded hollow as any weapon can attack Russian territory when deployed close enough to the country. By sending munitions to Ukraine, the U.S. effectively participates in the war, which Washington has been trying hard to distance itself from to keep the situation under control.

Biden meets with Yellen, Powell on inflation

  • “I’m meeting with the Chairman today and with Secretary Yellen to discuss my top priority, and that is addressing inflation…in order to transition from a historic recovery to a steady growth that works for American families,” said President Biden before meeting with Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell at the White House on Tuesday.
  • The president published an op-ed in the Wall Street Journal on Monday, laying out his plan for combating inflation. As the midterm election draws close, the meeting on Tuesday was Biden’s latest display of effort to address the top concern of Americans. However, it is increasingly difficult to sell the U.S. people on a more cheerful economic outlook, with warnings of recession accumulating.
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