Biden’s Treasury Secretary Janet Yellen arrived in Beijing on Thursday for a four-day trip to ease rising economic and political tensions between the United States and China, according to Bloomberg.
Yellen’s visit comes days after a long trade war escalated as China imposed new restrictions on exports to the United States, Bloomberg said. report. Her visit marks a new attempt at negotiations with China, following Secretary of State Anthony Brinken’s visit to Beijing in June, but critics say it is concessional and too bad.
Yellen has previously said the United States and China are too intertwined to separate, and that decoupling them from their economies would have “disastrous consequences”.
“We believe the world is big enough for both of us. China and the United States can and need to find ways to live together and share in the prosperity of the world. can recognize their differences, protect their own interests and compete fairly,” Yellen said in April.
Former President Donald Trump said in 2020 that the United States needed to stop relying on the Chinese economy to bring manufacturing and overseas jobs home. (Related: Treasury Secretary Biden talks about ‘fairness’ in economic decisions)
“We will make America the world’s manufacturing powerhouse and end our dependence on China once and for all. Because you can’t rely on China,” Trump said. Said.
According to Bloomberg, President Biden’s Treasury Department said Yellen’s visit would provide an economic middle ground amid an escalating trade war, with China imposing restrictions on exports of vital semiconductor-making metals to the United States earlier this week. We hope that it will help us find a way to better communicate between our two countries.
US Treasury Secretary Janet Yellen arrives in Beijing to meet Chinese leaders as part of efforts to restore strained relations between world’s largest economies https://t.co/1Owu1Kf6aq pic.twitter.com/zzkmBYLkLA
— Bloomberg (@business) July 6, 2023
“Secretary Yellen, during her stay in Beijing, [People’s Republic of China] “Officials stressed the importance of the world’s two largest economies managing their relationship responsibly, communicating directly on areas of concern and working together to address global challenges. Yes,” said the Finance Ministry. Said on sunday.
“We are seeking a healthy economic relationship with China that fosters mutually beneficial growth and innovation and expands economic opportunities for American workers and businesses,” the Treasury Department said. “Finally, we aim to work together on pressing global challenges such as climate change and the debt crisis.”
Yellen’s arrival in Beijing on Thursday marks another attempt by the United States to negotiate with China amid mounting tensions. Her visit follows Secretary of State Anthony Brinken’s visit to Beijing last month, in which he made concessions to China on Taiwan’s status on the world stage, and the CCP reportedly sent spy balloons to the mainland United States. .
“We do not support Taiwan independence,” Mr. Blinken said after meeting with Mr. Xi Jinping in June. “We continued to oppose any unilateral change of the status quo by either side.”
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