U.S.’s Yellen begins China visit with both sides locked in confrontation

us.’s-yellen-begins-china-visit-with-both-sides-locked-in-confrontation
U.S.’s Yellen begins China visit with both sides locked in confrontation

U.S. Treasury Secretary Janet Yellen arrived in Beijing, China on July 6, 2023, for a four-day visit aimed at improving relations between the two largest economies in the world. Despite low expectations, Yellen expressed her enthusiasm for deepening communication between the United States and China, in line with President Joe Biden’s goals. She emphasized the desire for healthy economic competition that benefits American workers and firms, as well as collaboration on global challenges. Yellen also highlighted the importance of avoiding miscommunication or misunderstanding to protect national security.

Upon her arrival, Yellen received a modest welcome from a Chinese finance ministry official and the U.S. envoy to China. Both sides acknowledge that the visit may not significantly ease tensions between the two countries, as national security concerns have taken precedence over economic ties. However, a U.S. official traveling with Yellen emphasized the importance of dialogue, especially when there are disagreements, and expressed optimism about the visit’s potential outcomes. Yellen is expected to address unfair practices by China, including punitive actions against U.S. firms and market access barriers.

During her visit, Yellen is scheduled to meet with China’s Premier Li Qiang and former economy tsar Liu He, who is considered a close confidant of President Xi Jinping. Chinese commentators have criticized the U.S. for its concerns over China’s trade practices, calling it hypocritical. Before Yellen’s visit, Chinese analysts expressed skepticism about her April speech, which prioritized national security interests in economic policy with China. They believe the U.S. will continue its “economic and technological suppression” of China.

Yellen will emphasize that the United States does not support decoupling and will call for greater transparency from China regarding its new espionage law. She will also address international debt distress and stress the consequences of supplying lethal aid to Russia, a stance that China vehemently opposes. While major breakthroughs are not expected, Yellen aims to establish new lines of communication and coordination on economic matters. The visit is seen as crucial for improving communication between the two countries, particularly after the U.S. military shot down a Chinese balloon over the United States.

Yellen’s visit follows Secretary of State Antony Blinken’s recent trip to China, where he and President Xi Jinping agreed to prevent their rivalry from escalating into conflict. These visits are seen as important steps in improving communication, especially with a potential meeting between Biden and Xi on the horizon. The ultimate goal is to foster better relations between the United States and China, despite the challenges they face.

About News Team

Hi, I'm Alex Perez, an experienced writer with a focus on lifestyle and culture news. From food and fashion to travel and entertainment, I love exploring the latest trends and sharing my insights with readers. I also have a strong interest in world news and business, and enjoy covering breaking stories and events.

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