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Biden doesn’t want China to play part in setting out 21st-century rules for trade and technology

Biden doesn’t want China to play part in setting out 21st-century rules for trade and technology
Europe and the US should establish global rules of trade relations and technology, according to US President Joe Biden, excluding Beijing from taking part in such a process.

“We will focus on ensuring that market democracies, not China or anyone else, write the 21st-century rules around trade and technology,” Biden said in his editorial in the Washington Post, which he devoted to his upcoming visit to Europe, the first foreign travel of his presidency.

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Biden is planning to meet with the European Commission and the president of the European Council to discuss global challenges and outline ways of coordinating work to overcome them.

“The world’s major democracies will be offering a high-standard alternative to China for upgrading physical, digital and health infrastructure that is more resilient and supports global development,” he wrote.

Earlier this week, the US president signed an executive order, barring US investors from holding financial interests in 59 Chinese companies that allegedly undermine the security or democratic values of the country and its allies. The prohibitions come into force on August 2.

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On his first international trip since taking office, Biden is expected to meet with British Prime Minister Boris Johnson and Queen Elizabeth II, Turkish President Recep Tayyip Erdogan, and Russian President Vladimir Putin.

For more stories on economy & finance visit RT's business section

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