According to a report by the chairman of the US Senate Foreign Relations Committee, the US and European Union (EU) must mull over ways to ensure that the international system sticks to its values amid China’s unfair trade practices, murky investment and political interference. The report states that the US and EU have ‘very different visions’ of the world as compared to China. This comes just weeks before Joe Biden is set to take over the US administration which experts believe will change things for China’s economy as they expect the Democrat President may impose sanctions. As China continues to pose a threat in the Indo-Pacific region, the US Senate report stated that it’s not possible for either side of the Atlantic to deal with the challenges that China throws on their path alone, adding that the countries need to collaborate to deal with the security threat. The degree to which China can dominate its neighbourhood and beyond may have an influence on the ability of the country to project power globally, states the report. This report comes amid China’s growing aggression in the Indo-pacific region while tensions continue to rise over the Hong Kong security legislation issue, trade, Beijing’s military aggression as well as the COVID-19 pandemic outbreak. Earlier, Tsinghua University professor and former adviser to China’s central bank David Li Daokui had wanted the economic planners to beware that incoming President Joe Biden may ‘continue Trump’s hard-line approach to China’, according to a report by South China Morning Post. The Professor also warned them to not rule out the possibility of Donald Trump’s comeback in 2024.
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