United States Secretary of the Treasury Janet L. Yellen has concluded her second visit to China since July 2023, engaging in extensive and productive discussions with China’s key officials. Yellen emphasized that the U.S. is not seeking to decouple from China, highlighting that a healthy economic relationship between the two nations is beneficial not only to themselves but also to the global economy.
During her visit, Yellen addressed several important issues, notably expressing concerns over what she described as China’s “overcapacity” resulting from government support. She argued that this overcapacity has undermined the economic interests of the U.S. and its allies. As the U.S. and the European Union intensify their focus on this matter, China’s industrial capacity is poised to become a significant point of contention in Sino-U.S. relations in the coming months.
The discussions underscore the complexity of the economic ties between the world’s two largest economies. While both countries acknowledge the mutual benefits of cooperation, differences over trade practices and market dynamics continue to pose challenges. Yellen’s visit signifies a willingness on both sides to engage directly and work towards stabilizing relations despite existing disagreements.
As the global economy navigates uncertain times, the dialogue between China and the U.S. holds significant implications for international trade and economic stability. Observers worldwide are watching closely, hopeful that continued communication will lead to constructive solutions and a more balanced economic relationship.
Reference(s):
Yellen's visit will stabilize Sino-U.S. relations when risks in place
cgtn.com
