China's Foreign Ministry spokesperson Wang Wenbin. Photo: VCG

China's Foreign Ministry on Wednesday slammed US Treasury Secretary Janet Yellen's remarks urging Western countries to form an united approach against China's business practices, saying it is the US that is abusing its economic, financial and technological hegemony to crack down on other countries.

In a speech to the Brussels Economic Forum, Yellen said that even as Western countries are countering Moscow over the Russia-Ukraine conflict, they also need to take a united approach to checking China and its business practices, the Associated Press reported. 

She also called on US and its European allies to confront China, after having united against Russia, according to the US Department of Treasury. "We have become too vulnerable to countries using their market positions in raw materials, technologies, or products to exercise geopolitical leverage or disrupt markets for their own gain," said Yellen, citing Russian oil and Chinese rare-earths.

Asked about Yellen's remarks at a press conference on Wednesday, Wang Wenbin, a spokesperson for the Chinese Foreign Ministry, said that the international community is well aware of which country abuses its economic, financial and scientific hegemony as a lever to contain and suppress other countries and seek its own geopolitical gains

"Peace, development and win-win cooperation are the trend of our times and the common aspiration of people of all countries. Some people in the US are obsessed with bullying and coercing their allies to form small circles to contain China. They are going against the trend of the times, are unpopular and have no way out," said Wang.

Wang also urged the US to match its words with deeds, follow through on statements made by the US leader about not to seek a new Cold War or to strengthen the alliance against China, and do more to promote China-US mutual trust and cooperation as well as global peace and development.

Global Times