Former U.S. Treasury Secretary Larry Summers called on the Biden administration to focus on fair economic competition rather than "tearing up China" in the face of the trade war.

(Bloomberg file photo)

[Financial Channel/Comprehensive Report] Former U.S. Treasury Secretary Lawrence Summers warned that the Biden administration should remain safe in the competition with China and focus on fair economic competition. It would be a very risky thing.

According to "Bloomberg" reports, Summers said on Bloomberg TV and Wall Street Weekly that in the competitive relationship between the United States and China, the United States should focus on its own technological innovation, infrastructure improvement and education, rather than blindly He thought it would be a very risky and unfortunate decision to build the center on how to destroy China.

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Last month, the Biden administration imposed a chip ban, restricting US companies from selling semiconductors, chip manufacturing equipment and other semiconductor-related technologies to China. This move has had a major impact on many US companies.

Summers said that in the face of the US-China trade war, the correct approach is to defend the basic interests of security and economic competition. Only in this way, the US can win in this broad competition.

In addition, Summers added: "China has always considered Taiwan as part of its territory, and the United States has been too aggressive in strengthening Taiwan-US relations to ignore China."

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