Name: Blinken: De-Risk but Not Decouple From China
Uploaded: 2023-06-01T08:12:20.000Z
Description: The U.S. and Europe are converging on their China views. according to U.S. Secretary of State Antony Blinken.

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The U.S. and Europe are converging on their China views. according to U.S. Secretary of State Antony Blinken.

While speaking at the EU-US Trade and Technology Council in Sweden, Blinken said that the West isn't seeking to isolate China, but rather to "sustain" relations without supporting developments that could pose a threat to their national security.

Blinken also said the U.S. and EU are working closely to diversify supply chains.

Adding that neither the U.S. nor Europe supports decoupling from China, but they are in favor of de-risking.

The idea of “de-risking” was first brought up by EU President Von der Leyen back in March. It sought to urge European nations to reduce economic dependency on China, especially on critical goods like rare earth minerals.

As of now, both the U.S. and Europe rely heavily on China for manufacturing those materials.

The nation currently accounts for 85 percent of rare earth processing in the world.

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