BEIJING-BOUND
Yellen then travels north to Beijing, where she will conduct more in-depth conversations with Chinese leaders over the course of two days.
This attend to China is her next in a year, and it comes as Washington and Beijing battle everything, including the island of Taiwan, which is self-ruled, and the video game TikTok.
The US government minister also warned Saturday of” important effects” if Chinese firms support Russia, whose February 2022 conquest of Ukraine has not been condemned by Beijing.
” Secretary Yellen emphasised that businesses, including those in the PRC, may not provide material support for Russia’s war against Ukraine, including aid to the Russian military industrial center, and the significant repercussions if they do so”, the US Treasury said in a speech, referring to the People’s Republic of China.
” We’ve made it clear to China that we believe that Russia is benefiting from the products that China and Chinese companies are supplying to Russia,” Yellen told reporters in Guangzhou.
” Neither of us want this to be an issue with our bilateral relationship. So we’re working up”, she said.
” SHARED CHALLENGES”
According to the US Treasury reading, the two parties “have made a commitment to operate along on shared issues, including climate finance and debt problems in low-income and emerging markets.”
According to the statement, they agreed to look into ways to intensify a joint effort to combat money laundering through marketplaces under the “financial working group” between the US and China, with a” first appointment scheduled for in coming days.”
Washington has called on Beijing to stop the flow of fentanyl and relevant precursor chemicals from flowers in China, which are frequently sold to North American customers through illegal monetary transactions.
At their summit in November, Biden and Xi agreed to work together on the problem of drug smuggling, and the two governments have since convened for a number of working sessions in this area.
Since the two top leaders ‘ initial discussions in San Francisco, which both parties described as a skilled success, have slowed down significantly.
After a period of increased tensions, particularly over Taiwan, and Yellen’s attend in July 2023, a diplomatic working group on economic and financial policy was launched.
In the upcoming months, US Secretary of State Antony Blinken is also expected to travel to China, a sign that both parties are switching to more regular tasks.