U.S. Treasury Secretary Janet Yellen’s recent visit to the Chinese mainland has sparked cautious optimism about the future of U.S.-China relations. Following a phone call between Chinese President Xi Jinping and U.S. President Joe Biden, Yellen’s trip marks her second visit to China in nine months and comes at a time when trade frictions and technological competition have strained ties between the two nations.
Yellen, known for her opposition to tariffs and economic decoupling, held high-level discussions with Chinese officials on issues of mutual concern. She emphasized the importance of maintaining open communication channels and warned that efforts to decouple the two economies would be “disastrous” for both countries and the global economy.
“While we have more to do, I believe that, over the past year, we have put our bilateral relationship on a more stable footing,” Yellen stated. Her sentiments were echoed by both sides, with a shared acknowledgment of the need to manage the complex relationship responsibly and cooperate on pressing global challenges.
Analysts view Yellen’s visit as a positive step toward stabilizing the relationship between the world’s two largest economies. The U.S.-based publication Politico noted, “It’s a good sign for the U.S.-China relationship when Beijing starts complimenting Treasury Secretary Janet Yellen’s chopstick skills,” highlighting the warmer tone of recent interactions.
However, questions remain about whether this renewed engagement will translate into substantive policy shifts. Despite pledges from the Biden administration not to seek economic decoupling, concerns persist over potential U.S. actions targeting Chinese firms and products under the guise of “industrial overcapacity” and “national security.”
The key to improving U.S.-China relations lies in whether Washington can move beyond rhetoric and implement tangible measures that reflect mutual respect and understanding. As the international community watches closely, the hope is that both nations will take concrete steps to foster a more cooperative and stable partnership.
Reference(s):
cgtn.com
