U.S. business leaders should be cautious about Chinese investments, Secretary of State Antony Blinken warned at a gathering of prominent leaders in business and politics.
“There is no distinction between a so-called private enterprise and the state,” he said. “If a private Chinese enterprise makes the investment, the state has access to whatever that enterprise has access to.”
Blinken said he wasn’t calling for a U.S. economic decoupling from China, but for Americans to be “on guard.”
“There are very specific critical areas that have strategic importance, security importance, where we have to be on guard,” he said.
Blinken also warned about the Chinese regime wanting to replace the current world order.
“The challenge is that the world order that China would prefer is a profoundly illiberal one, as opposed to a liberal one,” he said. “If China is doing the challenging, we’ll stand up.
“We are going to be much more effective if we’re doing it in concert with allies and partners who are similarly aggrieved by some of China’s actions.”
Blinken said if the United States works with its allies—a combined economic clout of about 40 to 50 percent of the world’s gross domestic product (GDP)—it would have “a much heavier weight” and “more impact” on China.
“Our purpose is not to contain China, to hold it back, to stop trade and investment,” he said. “Our purpose is to uphold the international order.