The US will attempt next week to persuade China to back away from industrial policies that are damaging to US businesses, a senior Treasury official said on Wednesday.
Mapping out the economic issues that will be debated at a high-level summit in Beijing starting on Monday, David Loevinger, senior co-ordinator for China affairs at the Treasury, said “indigenous innovation” had risen to the top of the agenda.
“We have no problem with China promoting innovation. We do it. Lots of countries do it,” Mr Loevinger said. “But we want to make sure that they do it in a way that doesn't close off markets for US goods and services.”
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