On June 23, 2022, Director-General of the Department of Asian Affairs of the Foreign Ministry Liu Jinsong met with Vietnamese Ambassador to China Pham Sao Mai. The two sides had a friendly and in-depth exchange of views on bilateral relations and international and regional issues of common concern.

Liu Jinsong said, General Secretary Xi Jinping pointed out that China and Vietnam constitute a strategic community with a shared future. Currently, bilateral relations continue to maintain the sound momentum of development. China is ready to make joint efforts with Vietnam to well plan bilateral and multilateral exchanges and cooperation in the next stage, and further consolidate friendship and deepen mutual trust, so as to elevate the China-Vietnam comprehensive strategic cooperative partnership to new heights.

Liu Jinsong said, recently, the issues related to food, energy, industrial and supply chains, and financial security have become increasingly prominent across the globe. All of them are closely related to the internal and external policy adjustment of a major Western country. In particular, by rapidly increasing interest rates, it has caused global financial turmoil; by abusing tariff means and unilateral sanctions, it has aggravated hyperinflation at home and abroad; by creating small circles here and there and peddling "friend-shoring", it has undermined the normal operation of the global industrial and supply chains. Such moves have brought deep suffering to Asian countries. Lawrence Summers, a senior U.S. economist and former Treasury Secretary, recently pointed out, "I like to compare the Fed's problem to the challenge of adjusting the shower in an old hotel, where there's a lag of 20 or 30 seconds between the time you turn the faucet and the time the water temperature changes. It's very difficult to avoid either scalding yourself or freezing yourself. You turn, and nothing much happens, and so you turn more, and then, all of a sudden, you're jumping out of the shower." His description is quite vivid. The U.S. dollar is the currency of the United States, but it has increasingly become a problem for all countries in the world. This strange phenomenon is worth pondering.

Liu Jinsong said, recently, senior U.S. officials openly declared that the Indo-Pacific Economic Framework (IPEF) marks an important turning point in restoring U.S. economic leadership in the region and presenting Indo-Pacific countries "an alternative to China's approach". That fully demonstrates that IPEF is designed to serve, firstly, the U.S. economic hegemony, then the U.S. strategy towards China. The United States coerces regional countries to take sides by economic means. China firmly opposes such moves, and regional countries are also disinterested in them. IPEF, which is neither inclusive nor equal, is in essence "four-pronged unilateralism", that is, unilaterally pushing ahead with U.S. global and regional geopolitical strategy; unilaterally peddling U.S. standards and systems; unilaterally requiring regional countries to open their markets; and unilaterally decide on the list of the countries joining IPEF, as well as the areas and pace of cooperation. Such acts go against economic laws and free trade principles, run counter to the trend of economic globalization, and undermine and challenge ASEAN's centrality in regional cooperation. As a Vietnamese proverb goes, "An elephant's head and a rat's tail – much work for a little result", such acts will eventually come to naught. President Xi Jinping has pointed out that anyone who attempts to turn back the wheel of history and block others' way will only have his own path blocked.

Pham Sao Mai spoke highly of the sound development momentum of the relations between the two parties and between the two countries, and said that Vietnam is ready to work with China to strengthen the strategic guidance of high-level exchanges, promote pragmatic cooperation, jointly follow through on the important consensus reached by the leaders of the two parties and the two countries, and promote new and greater development of bilateral relations. Vietnam will not participate in exclusive circles targeting third parties, and will treat relevant international economic initiatives on the basis of an independent foreign policy.

Liu Jinsong presented Pham Sao Mai with President Xi Jinping's keynote speech at the Opening Ceremony of the BRICS Business Forum, the Global Development Report, remarks by State Councilor and Foreign Minister Wang Yi at the Launch of the Global Development Report, and Reality Check: Falsehoods in US Perceptions of China.