WASHINGTON: In advance of a mountain of Pacific Rim officials that the US has hosted, US Treasury Secretary Janet Yellen will meet with Chinese Vice Premier He Lifeng in San Francisco this week to try to change an economic talks between the country’s two largest economy.
The new economic and financial forums, which the Treasury and China’s finance ministry and central bank launched in October, will also be held during the meetings on November 9 – 10.
When Yellen visited Beijing in July to try to stabilize a deteriorating US-China relationship in the face of growing US restrictions on delicate technologies, she first met He, China’s new economic czar.
The discussions in San Francisco will take place just before the Biden management hosts ministers and officials of the Asia Pacific Economic Cooperation nations from November 11 to November 17. US President Joe Binden intends to meet with Chinese President Xi Jinping during this meeting.
The notion that there would be particular” deliverables” from the Yellen-He meetings was downplayed by a senior US Treasury official, who claimed that it was not” a policy trade” in which we exchange one thing for another.
However, the official added that one of Yellen’s main goals was to better understand how the new US-China economic communication line will operate and how to ensure that” it is not vulnerable to shocks ,” adding that there would be more frequent interactions.
Yellen is also interested in learning about the policies that Chinese officials are considering to help their sluggish economic development.
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Yellen is anticipated to caution He against giving state companies sizable industrial subsidies and barring US businesses from entering home markets in light of growing worries that China will attempt to dump more manufactured goods onto US and international markets, according to the official.