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    U.S. Denies Seeking New Cold War with China

    Julius AlagbeBy Julius AlagbeAugust 29, 2024No Comments3 Mins Read
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    U.S. Denies Seeking New Cold War with China
    Jake Sullivan
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    U.S. Denies Seeking New Cold War with China

    Jake Sullivan, U.S. President Joe Biden’s National Security Advisor, on Thursday said the U.S. was not seeking a new Cold War with China or changing China’s system.

    Sullivan made this known during a meeting with President Xi Jinping of China in Beijing. He explained that the revitalisation of U.S. alliances, especially in Asia, was not against China. The presidential aide also conveyed the regards of President Biden to President Xi.

    He recalled that since the San Francisco Summit between the two world leaders, the duo had earnestly implemented their common understandings and achieved positive progress.

    According to him, the earlier round of strategic communication with Chinese Foreign Minister, Wang Yi in China was “in-depth, candid, substantive and constructive.”

    “The U.S. does not seek a new Cold War; it does not seek to change China’s system.

    “The revitalisation of U.S. alliances is not against China.

    “The U.S. does not support Taiwan’s independence and it does not seek conflict with China.

    “The One-China policy of the U.S. has not changed and it has no intention to use Taiwan as a tool to contain China,” Sullivan said. He said that the U.S. hoped to maintain strategic communication with China and find a way for the duo to coexist in peace.

    The National Security Advisor expressed confidence that U.S.-China relations would develop in a sustainable way. Sullivan further said that Biden was looking  forward to having communication again with  Xi soon.

    Earlier, Xi stated that in a changing and turbulent world, countries needed solidarity and coordination, not division or confrontation. According to him, people want openness and progress, not exclusion or regress.

    “As two major countries, China and the U.S., should be responsible for history, for the people and for the world.

    “They should be the source of stability for world peace and the propeller for common development.

    “Great changes have taken place in the two countries and in China-U.S. relations.

    ”China’s commitment to the goal of a stable, healthy and sustainable China-U.S. relationship remains unchanged.

    “Its principle in handling the relationship based on mutual respect, peaceful coexistence, and win-win cooperation remains unchanged.

    “Its position of firmly safeguarding the country’s sovereignty, security and development interests remains unchanged.

    “Its efforts to carry forward the traditional friendship between the Chinese and American people remain unchanged,” Xi said. He further explained that China remained focused on managing its own affairs well and would continue to deepen reform comprehensively.

    This, he said, was to further improve the system of socialism with Chinese characteristics that suits China’s national conditions. Xi said that China would follow the path of peaceful development.

    He also assured that the country would work closely with other countries for common development and jointly build a community with a shared future for mankind.

    Sullivan’s visit to Beijing is scheduled to end on Thursday. It is aimed at setting the stage for Biden to hold his final summit with Xi before leaving office in January, 2025. #Jake Sullivan, U.S. President Joe Biden’s National Security Advisor, on Thursday said the U.S. was not seeking a new Cold War with China or changing China’s system. CBN Defends Naira with $39m in Forex Market

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    Julius Alagbe
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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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