STORY: "De-risking" means missing out on opportunities in China: observers
DATELINE: July 21, 2023
LENGTH: 00:02:38
LOCATION: Beijing
CATEGORY: POLITICS
 
SHOTLIST:
1. various of views in U.S.
2. SOUNDBITE 1 (English): WILLIAM JONES, Washington bureau chief of U.S. publication Executive Intelligence Review
3. various of views in China
4. SOUNDBITE 2 (English): STEPHEN PERRY, Chairman of Britain's 48 Group Club
5. SOUNDBITE 3 (English): ZOON AHMED KHAN, Research Fellow at Center for China and Globalization, Beijing
 
STORYLINE:
 
Washington's economic approach to China has shifted from "decoupling" to "de-risking" or "diversifying critical supply chains." 
 
Experts say the concept of "de-risking" peddled by the U.S. is based on the same old logic of "decoupling" as the world's sole superpower continues its efforts to thwart China's development.
 
SOUNDBITE 1 (English): WILLIAM JONES, Washington bureau chief of U.S. publication Executive Intelligence Review
"They are aiming at containing the rapid development of China and its emergence as a major force on the world stage. It doesn't sever the relationship with China, it just restricts on the one hand, high technology exports coming from the developed countries to get on board this to China, forcing China really to do things on their own which they otherwise could have gotten from the world market. It makes it more difficult but doesn't represent a tremendous hinderance to China's development."
 
Despite facing pressures and challenges, China's economy has rebounded steadily. 
 
According to official data, China's GDP grew 5.5 percent year on year in the first half of 2023, reaching 59.3 trillion yuan (about 8.3 trillion U.S. dollars).
 
In the second quarter, the country's GDP expanded 6.3 percent year on year.
 
Observers say, in a world where economies are interconnected, China serves as a significant growth engine, and such attempts to contain China are destined to fail, leading to missed opportunities.
 
SOUNDBITE 2 (English): STEPHEN PERRY, Chairman of Britain's 48 Group Club
"I don't think that anybody can isolate China. It's a fantasy. The world's business needs China. And the world's business will continue to find that China is a good place to be. The situation in the world right now is that China is offering a lot of opportunities for international companies to do good business. And the international companies are taking up those opportunities."
 
SOUNDBITE 3 (English): ZOON AHMED KHAN, Research Fellow at Center for China and Globalization, Beijing
"I absolutely do not think that China's development is a risk. It is only a risk to those that are de-risking because they might find themselves to be more isolated than they could have been. Obviously China is offering the right opportunities. China knows how to be a partner for advancement, for technological cooperation. And the second thing is that China is just far too significant. China is the biggest trading partner for almost 150 countries (and regions) in the world. China is ahead of the curve when it comes to achievement of SDGs, and it's helping developing countries do that. So China's success is actually a big hope for countries across the world."
 
Xinhua News Agency correspondents reporting from Beijing.
(XHTV)