China will not tolerate any economic attacks, Xi warns Biden

Chinese President Xi Jinping warned his new US counterpart Joe Biden not to push Europe into an alliance against Beijing, Politico reports. If the USA takes any measures that would be designed to push China out of global trade and technology networks, this may reignite the Cold War, Xi Jinping said. Joe Biden's team earlier called for the formation of an alliance to confront China's economic model, which apparently forced the Chinese leader to speak up against such an approach. "Forming small groups or launching new cold wars on the world stage; excluding, threatening and intimidating others; resorting to decoupling, supply disruption or sanctions ... would only push the world towards division, if not confrontation," Xi said. "Repeatedly, history and the reality reminded us that, if we walk down the path of confrontation - be it a cold war, a hot war, a trade war or a tech war - all countries are going to suffer in terms of their interests and their people's well-being," he added.