• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Iran just crossed Trump's red line for resuming all-out war as fighting continues to escalate with no end in sight

2

Indeed chief economist: Aging Baby Boomers are America's real labor problem, not AI

3

U.S. companies have finally gotten $71 billion in tariff refunds, but they’re using it to offset inflation caused by the Iran war

1

Iran just crossed Trump's red line for resuming all-out war as fighting continues to escalate with no end in sight

2

Indeed chief economist: Aging Baby Boomers are America's real labor problem, not AI

3

U.S. companies have finally gotten $71 billion in tariff refunds, but they’re using it to offset inflation caused by the Iran war
Finance
Asia

Beijing says U.S. criticism of Chinese overcapacity is ‘naked economic coercion and bullying’ ahead of Secretary of State Blinken’s visit

By
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Bloomberg
Bloomberg
Down Arrow Button Icon
April 23, 2024, 6:17 AM ET
U.S. Secretary of State Antony Blinken (M) is accompanied to an appointment by his staff at the meeting of the G7 foreign ministers.
U.S. Secretary of State Antony Blinken (M) is accompanied to an appointment by his staff at the meeting of the G7 foreign ministers.Britta Pedersen—picture alliance via Getty Images
Add Fortune on Google for similar content.

China launched its harshest attack to date on US complaints about industrial overcapacity, signaling that Secretary of State Antony Blinken may be in for some difficult conversations during his visit this week.

Recommended Video

The US accusation contains “the malicious intention of curbing and suppressing China’s industrial development, aiming to seek a more favorable competitive position and market advantage,” a Chinese diplomat said at a recent briefing, according to a Foreign Ministry statement released Tuesday.

“It is naked economic coercion and bullying,” added the official in the ministry’s North America department whose name wasn’t given.

China rarely holds such briefings just before top US officials visit. Blinken is set to travel to the Asian nation from Wednesday to Friday.

The trip comes as several issues test a stabilization of ties, which frayed last year following accusations that China flew a spy balloon over the US. While campaigning last week, President Joe Biden blasted Beijing as “xenophobic” and vowed to triple tariffs on Chinese steel and aluminum exports.

Washington also opened a probe into the nation’s shipbuilding sector, and Congress has fast-tracked efforts to force TikTok to divest from its Chinese parent, ByteDance Ltd. Blinken’s visit also coincides with the US and Philippines conducting military exercises near the disputed South China Sea and Taiwan.

China’s response to the moves has been relatively muted. Yet, the remarks by the Foreign Ministry official suggest some irritation on Beijing’s part is mounting.

“The US is stubbornly advancing its strategy to contain China, and continues to use wrong words and deeds that interfere in China’s internal affairs, smear China’s image and harm China’s interests,” the Chinese diplomat said. “We firmly oppose and counteract this.”

The person said Beijing and Washington needed to effectively manage their disagreements. 

Blinken’s first trip to China since mid-2023 comes on the heels of Treasury Secretary Janet Yellen’s visit to Beijing earlier this month, and the first phone call between China’s new defense minister and his US counterpart.

A senior US official said earlier that Blinken will spell out how Chinese companies’ backing for Russia’s war machine is impacting European security. China hasn’t crossed the US red line of offering lethal assistance to Russia in the form of weapons or munitions.

The Wall Street Journal has reported that Washington is preparing sanctions that would sever the access of certain banks in China to the world’s financial system. The move would be aimed at curbing Beijing’s commercial support of Moscow.

Chinese Foreign Ministry spokesman Wang Wenbin repeated at a regular press briefing in Beijing on Tuesday that his country “is not a party to the Ukraine crisis.”

“We will never fan the flames nor seek selfish gains,” he said. “We will certainly not accept being the scapegoat.”

About the Author
By Bloomberg
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

grocery
EconomyInflation
Agricultural economist explains why you’re paying 32% more for lettuce and 20% more for tomatoes — and why it will stay that way
By Elizabeth Canales and The ConversationJuly 19, 2026
2 hours ago
russia
PoliticsEconomics
Strong economies, strongman leaders: how China (and America’s) AI boom could create a new class of kowtowing elites
By José Kaire and The ConversationJuly 19, 2026
2 hours ago
How United’s ‘premiumization’ strategy got passengers to swallow higher airfares without a fight
HealthAirline industry
How United’s ‘premiumization’ strategy got passengers to swallow higher airfares without a fight
By Phil WahbaJuly 19, 2026
3 hours ago
t
Personal FinanceMarkets
Nvidia and Apple get a cut of every baby’s $1,000 Trump Account
By Jay L. Zagorsky and The ConversationJuly 19, 2026
3 hours ago
Iran just crossed Trump’s red line for resuming all-out war as fighting continues to escalate with no end in sight
Middle EastIran
Iran just crossed Trump’s red line for resuming all-out war as fighting continues to escalate with no end in sight
By Jason MaJuly 18, 2026
11 hours ago
U.S. military launches new airstrikes to ‘swiftly punish’ Iran for attack on Jordan that killed American troops
Middle EastIran
U.S. military launches new airstrikes to ‘swiftly punish’ Iran for attack on Jordan that killed American troops
By Jon Gambrell, Toqa Ezzidin, Konstantin Toropin and The Associated PressJuly 18, 2026
11 hours ago

Most Popular

Iran just crossed Trump's red line for resuming all-out war as fighting continues to escalate with no end in sight
Middle East
Iran just crossed Trump's red line for resuming all-out war as fighting continues to escalate with no end in sight
By Jason MaJuly 18, 2026
11 hours ago
Indeed chief economist: Aging Baby Boomers are America's real labor problem, not AI
Commentary
Indeed chief economist: Aging Baby Boomers are America's real labor problem, not AI
By Svenja GudellJuly 18, 2026
1 day ago
U.S. companies have finally gotten $71 billion in tariff refunds, but they’re using it to offset inflation caused by the Iran war
Economy
U.S. companies have finally gotten $71 billion in tariff refunds, but they’re using it to offset inflation caused by the Iran war
By Sasha RogelbergJuly 17, 2026
2 days ago
FedEx CEO says we are in the middle of the biggest supply chain shift he’s seen in 35 years: ‘We are the referendum’
C-Suite
FedEx CEO says we are in the middle of the biggest supply chain shift he’s seen in 35 years: ‘We are the referendum’
By Fortune EditorsJuly 15, 2026
4 days ago
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
AI
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
By Jason MaJuly 18, 2026
11 hours ago
Kevin O’Leary claimed opposition to his Utah data center was fueled by Chinese money. Now he and Fox News are being sued for defamation
Law
Kevin O’Leary claimed opposition to his Utah data center was fueled by Chinese money. Now he and Fox News are being sued for defamation
By Marco Quiroz-GutierrezJuly 17, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.