STORY: The risks of "de-risking" from China
DATELINE: July 19, 2023
LENGTH: 00:04:16
LOCATION: Beijing
CATEGORY: POLITICS
 
SHOTLIST:
1. STANDUP (English): ZHOU YANG, Xinhua correspondent
2. SOUNDBITE 1 (English): ZHOU YANG, Xinhua correspondent
3. SOUNDBITE 2 (English): ZOON AHMED KHAN, Research Fellow at Center for China and Globalization in Beijing
4. SOUNDBITE 3 (English): WILLIAM JONES, Washington bureau chief of U.S. publication Executive Intelligence Review
5. SOUNDBITE 4 (English): JERRY GREY, Australian media commentator
6. SOUNDBITE 5 (English): STEPHEN PERRY, Chairman of Britain's 48 Group Club
7. SOUNDBITE 6 (English): ZHOU YANG, Xinhua correspondent
8. SOUNDBITE 7 (English): STEPHEN PERRY, Chairman of Britain's 48 Group Club
9. SOUNDBITE 8 (English): WILLIAM JONES, Washington bureau chief of U.S. publication Executive Intelligence Review
10. SOUNDBITE 9 (English): KEITH BENNETT, Vice chair of Britain's 48 Group Club
11. SOUNDBITE 10 (English): ZHOU YANG, Xinhua correspondent
12. SOUNDBITE 11 (English): JERRY GREY, Australian media commentator
13. SOUNDBITE 12 (English): STEPHEN PERRY, Chairman of Britain's 48 Group Club
14. SOUNDBITE 13 (English): WILLIAM JONES, Washington bureau chief of U.S. publication Executive Intelligence Review
 
STORYLINE:
 
After a long history of economic globalization, today's world is seen as a "global village." Countries are linked with one another to a degree never seen before.
 
STANDUP (English): ZHOU YANG, Xinhua correspondent
"However, lately, the United States and some of its Western allies have been clamoring for the idea of 'de-risking' from China, an ostensibly more moderate term as compared with the previous 'de-coupling' policy.
So, why did Western politicians tout 'de-risking'?
Is the policy in any way realistic?
And what are the risks for 'de-risking'?
To unravel the massive uncertainties associated with such wording, we've talked with observers from various countries to get their thoughts."
 
SOUNDBITE 1 (English): ZHOU YANG, Xinhua correspondent
"The U.S. and the West insist on 'de-risking' from China. So what's your take on it?"
 
SOUNDBITE 2 (English): ZOON AHMED KHAN, Research Fellow at Center for China and Globalization in Beijing
"De-risking is essentially a strategy as much as heads of states and policy makers will try to sugarcoat. It is a move towards de-globalization. It is a perspective that is about protectionism. They don't want to see China becoming more influential."
 
SOUNDBITE 3 (English): WILLIAM JONES, Washington bureau chief of U.S. publication Executive Intelligence Review
"I think that's basically true that the delinking is just a way of talking about the de-coupling without being drastic about it and focusing on the areas of high technology.
They are aiming at containing the rapid development of China and its emergence as a major force on the world stage."
 
SOUNDBITE 4 (English): JERRY GREY, Australian media commentator
"America has taken an adversarial position with China. China hasn't done the same with America, but America has with China.
They're obviously aiming to stymie or restrict the growth of China. One is they don't want China to be the number one economy. That's competition. The second one is a threat. China is not a threat to the United States, not in any way, shape or form, but they see it as a threat. They feel it as a threat."
 
SOUNDBITE 5 (English): STEPHEN PERRY, Chairman of Britain's 48 Group Club
"I think that the Americans have found it easier to explain away the advances that China has made by demonizing China, whether one talks about de-coupling, de-risking.
The United States is trying to find out why China has advanced faster than the United States. And they have a tendency to blame the other person. Once you start blaming the other person, you are beginning to move away from reality. Once you move away from the realistic analysis, then you're in trouble."
 
SOUNDBITE 6 (English): ZHOU YANG, Xinhua correspondent
"In this era of globalization, do you think 'de-risking' is in any way possible?"
 
SOUNDBITE 7 (English): STEPHEN PERRY, Chairman of Britain's 48 Group Club
"The idea that we can isolate China, it's unrealistic."
 
SOUNDBITE 8 (English): WILLIAM JONES, Washington bureau chief of U.S. publication Executive Intelligence Review
"I think it's probably not going to succeed."
 
SOUNDBITE 9 (English): KEITH BENNETT, Vice chair of Britain's 48 Group Club
"I think de-risking is the wrong term, because you only need de-risking if there's a risk. And I don't see it. To me, China is not a risk, it's an opportunity."
 
SOUNDBITE 10 (English): ZHOU YANG, Xinhua correspondent
"What are the risks of 'de-risking'?"
 
SOUNDBITE 11 (English): JERRY GREY, Australian media commentator
"The risk of de-risking now is the risk of cutting off pretty much the BRICS, BRI, SCO... They're cutting off a massive amount of global trade for themselves."
 
SOUNDBITE 12 (English): STEPHEN PERRY, Chairman of Britain's 48 Group Club
"What we have to recognize is that if we de-couple, de-risk, separate ourselves from China and Asia, it is that we will be the ones that lose out. Asia will have the highest amount of innovation and development. It will have the highest rises in economic development. And we in Europe and America will be cut off from it. It's not a good policy."
 
SOUNDBITE 13 (English): WILLIAM JONES, Washington bureau chief of U.S. publication Executive Intelligence Review
"I think it's a policy (de-risking) which is doomed to failure and will lead only to serious consequences to both of the recipients, as well as the perpetrators of these measures, because it will decrease productivity and production, make things more expensive, increase inflation. And all the nasty things that we're worried about today will be a result of that policy."
 
Xinhua News Agency correspondents reporting from Beijing.
(XHTV)