Chinese ambassador to the US, Cui Tiankai, said that no one in Beijing is thinking seriously about using US treasuries as a weapon in trade war. HE said that it could “backfire”. Cui emphasized that “We don’t want to cause any financial instability in global markets. This is very dangerous, this is like playing with fire”.
Cui repeated the usual Chinese rhetoric that “we are against any trade war”, but China would “fight to safeguard our own interests.” And he also criticized so far “I have not seen sufficient response from the U.S. side to our concerns.” He emphasized “we cannot accept that one side would put forward a number of demands and the other side just has to satisfy all these things.”
