Biden says China rise not America’s demise

WASHINGTON—US Vice President Joe Biden came to the defense of China, an early Republican whipping boy in the US presidential campaign, assuring Americans Thursday that its rise does not spell America’s demise.

Biden, who visited China last month, made his case in an opinion piece in the New York Times, countering a theme of US decline that has gained currency amid persistent economic woes and a bitter battle for the US presidency.

“Some may warn of America’s demise, but I’m not among them,” said Biden. “And let me reassure you: based on my time in China, neither are the Chinese.”

Biden acknowledged that Americans are concerned about what China’s rise means for America and the world, but rejected the view that it portends a “cold-war-style rivalry or great power confrontation.”

He said the administration of President Barack Obama was “clear-eyed” about the concerns raised by China’s military capabilities and intentions, and for that reason will maintain a strong US presence in the region.

“But I remain convinced that a successful China can make our country more prosperous, not less,” he wrote.

He argued that as trade and investments bind the two countries, they will have a stake in each other’s success, and incentives to work together.

“We often focus on Chinese exports to America, but last year American companies exported more than $100 billion worth of goods and services to China, supporting hundreds of thousands of jobs last year,” he said.

He added that US exports to China were growing faster than to any other country.

Biden said the Chinese leaders he met with understand that their economy has to transition from being driven by exports, investments and heavy industry to one driven more by consumption and services.

“As Americans save more and Chinese buy more, this transition will accelerate, opening opportunities for us,” he said.

Biden also sought to allay fears about US indebtedness to China, saying “the truth is Americans own America’s debt. China holds just eight percent of outstanding Treasury securities. By comparison Americans hold nearly 70 percent.”

America, he said, is better positioned than China to compete in the 21st century because of the strengths of its political system, free market economy and rule of law.

“America’s strengths are, for now, China’s weaknesses,” he said.

Biden came under fire from Republican presidential candidates last month while he was in China for telling an audience of university students he “fully understands” Beijing’s one child per family policy.

In a debate Republican president candidates Wednesday, Mitt Romney vowed to end trade “surrender” to countries like China.