ON THE final day of his visit yesterday, US vice-president Joe Biden tried to address the difficult issue of his host’s human rights record while stressing Washington had an interest in ensuring stability in China.
China’s ruling Communist Party has cracked down on dissent this year, fearful that anti-authoritarian sentiment in North Africa and the Middle East could spread to China.
“I recognise that many of you in this auditorium see our advocacy of human rights as, at best, an intrusion and, at worst, an assault on your sovereignty,” Mr Biden said in a speech in the Sichuan capital, Chengdu.
“I know that some in China believe that greater freedom could threaten economic progress by undermining social stability . . .
Giving a speech at Sichuan University, Mr Biden yet again sought to reassure China that its €830 billion holding of US Treasury bonds was safe. “You’re safe,” he told students.
“We could not afford not to make good” on US commitments, he said.
He pointed out how the interest rate on Treasury bonds fell following the downgrade, making them even more sought-after than ever.
“We are still the single-best bet in the world in terms of where to invest,” he said, going on to paint a picture of the world’s two largest economies working together to buoy the world economy.
“We’re the two biggest engines in the world to be able to do that,” he said.
The message was well-received in China, although the government is clearly waiting for demonstrable progress in matching these fine words with actions.
“Concrete actions are badly needed from the United States to honour its promises,” said an editorial carried by the Xinhua news agency.
“China’s clear and decisive action to maintain the stability of global markets has demonstrated its willingness to take responsibility as the world’s second largest economy, while also showing that it understands that actions speak louder than words . . . Now comes the time when the United States needs to show the world that it is not only capable of making promises but also has the determination, ability and political will to turn them into reality,” said the editorial.
Perhaps a better indication of relations between the world’s two biggest economies – an event getting a huge amount of attention online – was the China-US Basketball Friendship Match which ended in a brawl between a Chinese army basketball team, the Bayi Military Rockets, and a US University team, the Georgetown Hoyas, on Thursday night.
The fight broke out after a number of bizarre refereeing decisions which appeared to favour the home side. Rather than showcasing friendship between the countries, it highlighted the ongoing tensions between the two largest economies.