US seeks no new Cold War with China, but will compete with Beijing — Biden

The US does not seek a new Cold War with China, but it will continue to compete with it, and Washington stays in contact with Beijing over the recent balloon incident, US President Joe Biden said, TASS reports.

"We are not looking for a new cold war," Biden said. "I expect to be speaking with President Xi, I hope we are going to get to the bottom of this, but I make no apologies for taking down that balloon."

He stated that the US will compete with China, but will responsibly manage that competition to prevent it from turning into a conflict.