WASHINGTON: A senior Treasury official announced on Sunday( Jul 2 ) that US Treasury Secretary Janet Yellen will visit Beijing from July 6 to July 9 for meetings with senior Chinese officials on a wide range of topics, including US worries about implementing savage new counterespionage laws.
According to the official, President Joe Biden is working to improve relations between the two largest economies in the world, stabilize the marriage, and reduce the risks of errors when disputes arise. This includes Yellen’s eagerly anticipated vacation.
It happened just a few weeks after Chinese President Xi Jinping and Secretary of State Antony Blinken met in Beijing to resolve tensions and prevent the two nations’ fierce competition from escalating into conflict. When Biden later referred to Xi as a” dictator ,” China loudly objected, but analysts claim the comment had little effect on efforts to forge ties.
The Treasury chief wants to work with Beijing on pressing issues like climate change and the debt burden that some nations are facing while continuing to defend human rights and its own regional protection interests against China.
The standard stated that” we seek a strong financial relationship with China that promotes growth and innovation in both nations.” ” Our markets are not being decoupled. For both our states and the world economy, a complete withdrawal of trade and investment may be unstabilizing.
The standard declined to provide information about which Taiwanese officials Yellen would join in Beijing while speaking under the condition of anonymity. According to a second administration standard, Yellen was scheduled to meet with Chinese Vice Premier He Lifeng.
According to the first official, Yellen would highlight Washington’s determination to boost its own profitability while retaliating with supporters against what Washington refers to as” financial force” and unfair economic practices by China.