U.S. Treasury Secretary Janet Yellen recently visited China, where she emphasized the need for Beijing to shift its policies on industry and the economy. Yellen met with top Chinese officials, including Chinese Premier Li Qiang and Chinese Vice Premier He Lifeng, during her trip. The discussions centered around Beijing’s plans for its economy, although specific details were not provided. Both countries agreed to intensify exchanges on balanced economic growth, global carbon neutrality efforts, and anti-money laundering measures.
Yellen highlighted the importance of open and direct communication between the U.S. and China in order to make progress in their bilateral relationship. Chinese Premier Li expressed hope that the U.S. would adhere to market economy norms and refrain from politicizing trade issues. He also emphasized the contributions of China’s new energy industry to global carbon neutrality efforts. The two nations agreed to enhance cooperation on financial stability and anti-money laundering, although the specifics of these agreements were not explicitly mentioned by the Chinese side.
The U.S.-China discussions were described as constructive, with an emphasis on balanced economic growth, financial stability, and anti-money laundering efforts. Yellen also met with Minister of Finance Lan Fo’an, as well as the mayors of Beijing and Guangzhou, representatives of U.S. businesses, and professors and students at Peking University. Both sides expressed serious concerns about trade restrictions imposed by the U.S. during the talks. Overall, the conversations between Yellen and Chinese officials focused on the need for policy changes in Beijing to address the evolving global economic landscape.
Yellen’s visit to China comes as part of ongoing efforts to strengthen the economic relationship between the two countries. While progress has been made in stabilizing the bilateral relationship, there are still differences that need to be addressed through open and direct communication. The discussions during Yellen’s trip centered around future plans for economic policies in China, with an emphasis on balanced growth and financial stability. Both countries agreed to increase cooperation on anti-money laundering measures to combat illicit finance and financial crime.
Moving forward, the U.S. Treasury secretary stressed the importance of ongoing communication and cooperation between the U.S. and China to address shared economic challenges. The goal is to build a more stable foundation for the bilateral relationship by addressing differences and engaging in tough conversations. As the global economic landscape continues to evolve, it is essential for both countries to work together to ensure economic stability and growth. Yellen’s visit to China signals a commitment to dialogue and cooperation in addressing economic issues of mutual concern.
