China accused Trump of trying to start a new Cold War

China on Saturday accused the Trump administration of attempting to “suppress” foreign companies, as the New York Stock Exchange moved to delist three China-based firms. 

Wang Yi, China’s foreign minister, said Trump’s economic policies amount to an “attempt to suppress China and start a new Cold War.” 

“This kind of abuse of national security and state power to suppress Chinese firms does not comply with market rules and violates market logic,” a spokesperson for the Chinese Ministry of Commerce said in a statement, according to Reuters. 

China on Saturday accused the Trump administration of attempting to suppress foreign companies, as the New York Stock Exchange moved to delist three China-based firms. 

The delisting came after months of mounting pressure, including an accusation from President Donald Trump that China uses US markets to raise money for its military. 

“This kind of abuse of national security and state power to suppress Chinese firms does not comply with market rules and violates market logic,” a spokesperson for the Chinese Ministry of Commerce said in a Saturday statement, according to Reuters. 

Separately, Wang Yi, China’s foreign minister, said on Saturday that Trump’s policies amount to an “attempt to suppress China and start a new Cold War.” 

“China-US relations have come to a new crossroads, and a new window of hope is opening. We hope that the next US administration will return to a sensible approach, resume dialogue with China, restore normalcy to the bilateral relations and restart cooperation,” Wang said in an interview with state-sponsored Xinhua News Agency. 

President-elect Joe Biden has said the US should work closely with its global allies as disputes with China crop up. 

“And as we compete with China and hold China’s government accountable for its abuses on trade, technology, human rights, and other fronts, our position will be much stronger when we build coalitions of like-minded partners and allies to make common cause with us in defense of our shared interests and values,” he said last week in Delaware, according to his prepared remarks. 

Source: Reuters via Yahoo News