US warned China on western investment after Putin meeting

Following his meeting with Vladimir Putin, US President Joe Biden warned Chinese President Xi Jinping to “be careful” since Beijing depends on western investment.

“I said: This is not a threat. This is an observation,” Biden said according to excerpts from an interview with CNN.

“Since Russia went into Ukraine, 600 American corporations have pulled out of Russia. And you have told me that your economy depends on investment from Europe and the United States. And be careful. Be careful.”

In March, Putin and Xi held two days of discussions during which they expressed their affinity and shared condemnation of the West. However, there was no indication of a diplomatic breakthrough with Ukraine.

Also this week, the two took part in a virtual summit.

The US-China relationship is experiencing increased stress and pessimism over national security problems, such as Taiwan, Russia’s conflict in Ukraine, the expansion of export restrictions by the United States on cutting-edge technologies, and China’s state-led industrial policy.

On Saturday, US Treasury Secretary Janet Yellen continued her trip to China.

Asked what Xi’s response was, Biden said: “He listened, and he didn’t…argue. And if you notice, he has not gone full-bore in on Russia.”

“So, I think there’s a way we can work through this.”

(With inputs from agencies)