Time. I expressed my heartfelt gratitude to, to, for the kind invitation together with joe and present to you this as being a precious opportunity for myself to further deepen the relationship of trust and confidence. For the 1st time ever. This is status in the science of volunteer to conferences that we have hilde the try the tool summit on a stand alone basis to at 10. David, numerous historical meetings have taken place and it is a huge honor to have printed a fresh page in its history. With this meeting, the foundation of the try that to cause other ration or the solid firm by natural relationships. The 3 of us have understood this more than anyone else and have executed the understanding in practice. January in january this year i visited the United States and they took kristen to you and visited japan in march and then to the us in april. And to me, i myself traveled to south korea and we have boasted a mutual relationship. At the moment, for the free and Dupont International or
East . Thank you. President biden good afternoon, everyone. Welcome to camp david. If i seem like im happy, its because i am. This has been a great, great meeting. Mr. President , mr. Prime minister, we meet in this Historic Place to make a historic moment, and i believe that to be true. This is a new era and partnership between japan and south korea and the United States. Our new camp david trilad. Before we dive into the progress we made today, if you excuse me to say i appoint privilege, let me say i appreciate the contribution your countries have made following the relief of the devastating wildfires in hawaii. I want to thank you both. On behalf of the american people. I also want to note that my team is closely monitoring hurricane hillary, which has the potential to bring significant rain and flooding to southern california. Fema has prepositioned personnel and supplies in the region and ready to respond as needed. I urge everyone, everyone in the path of this storm to take prec
Participates in the process is going to be i think were the rubber hits the road for their external diplomacy. Because it reveals the constraints of their own domestic political system in their own Financial Stress at the same time as their external attachment to trying to provide debt relief and engagement with the global south as well. Chair cleveland just quickly, do you see that there will be a slowdown in external landing . Because that certainly would have diplomatic consequences for the Chinese Government also. Panelist we have already seen a slowdown since 2018 2019 over that time, and the rising risk of defaults and renegotiation of those loans suggests there will continue to be an ongoing slowdown in external loans. Commissioner thank you very much. Panelist if i can just add two points with regards to the question about trust of faith and evidence with regard to what extent the chinese model might be appealing on the question about faith, i think right now what we are observ
The seventh hearing of the u. S. China economic and secure review commissions 2023 annual report cycle. I want to first thank staff, many of whom worked on several other hearings. And so, i appreciate the heroic effort that was involved in getting this hearing set up. So, thank you, jonathan and daniel, in particular, charles, i dont see. Many of us that have watched china for years appreciate that the magnitude of the economic challenges china must address now are not new rather, they have been worsening for years and were amplified by covid and the poor policy choices made during that time. Notwithstanding the ccps push for chinese households and non state businesses to drive recovery. Household consumption has been cautious. Government lending practices continue to favor unproductive state owned enterprises, higher performing non state sector at the expense of higher performing non state sectors. In most cities, property prices have plunged and Business Confidence has eroded as defl
The seventh hearing of the u. S. China economic and secure review commissions 2023 annual report cycle. I want to first thank staff, many of whom worked on several other hearings. And so, i appreciate the heroic effort that was involved in getting this hearing set up. So, thank you, jonathan and daniel, in particular, charles, i dont see. Many of us that have watched china for years appreciate that the magnitude of the economic challenges china must address now are not new rather, they have been worsening for years and were amplified by covid and the poor policy choices made during that time. Notwithstanding the ccps push for chinese households and non state businesses to drive recovery. Household consumption has been cautious. Government lending practices continue to favor unproductive state owned enterprises, higher performing non state sector at the expense of higher performing non state sectors. In most cities, property prices have plunged and Business Confidence has eroded as defl