On July 25, 2020, CGTN TV, an Arabic-language Chinese TV channel, posted a video to its Facebook page in which Chinese journalist Li Gang said that there is "new cold war" between China and the United States. He said that this "war" is taking place because China's GDP has grown to 60% of America's GDP, and he claimed that whenever the economy of another country grows this large, the U.S. implements a strong-arm policy against it, because it threatens American hegemony. He claimed that this has already happened to Europe and Japan. For more about Li Gang, see MEMRI TV Clip No. 8038.
Li Gang: "I believe that the alleged new cold war [between America and China] merely reflects the way the proponents of a certain ideology see the world. It is a part of the traditional propaganda that aims to demonize and create fear of a new rival, more so than it is a reflection of the essence of the U.S.-Chinese conflict. History tells us that when the economy of any country in the world reaches 60% of the American GDP, it becomes a threat to American hegemony over the world, and thus, the U.S. implements a strong-arm policy [against it]. America draws the line at 60% of its GDP. What happened to Japan, and Europe is the best evidence of this, and now, China's turn has come.
"The main issue here is simply whether the U.S. is willing to coexist with a country that subscribes to a different culture and political system in the face of the joint global challenges. If your country were in China's shoes, what would you do?"