The China-U.S. economic working group convened its sixth meeting in Washington on Friday, marking a significant step in bilateral efforts to address global economic challenges and enhance cooperation.
Chinese Deputy Finance Minister Liao Min and Jay Shambaugh, Under Secretary for International Affairs at the U.S. Department of the Treasury, co-chaired the meeting. The discussions took place on the sidelines of the 2024 Annual Meetings of the International Monetary Fund and the World Bank Group.
According to a statement released by China’s Ministry of Finance, both sides engaged in “in-depth, pragmatic and constructive” communication on the macroeconomic situations and policies of their respective countries. The dialogue focused on addressing global challenges, including joint cooperation to assist low-income countries in coping with liquidity challenges and planning future arrangements.
The Chinese delegation introduced China’s current macroeconomic situation and outlined a recently launched package of targeted incremental fiscal policy measures aimed at stimulating economic growth. They also expressed concerns regarding the U.S. imposing additional tariffs on China and sanctions related to Russia.
Following the meeting, Deputy Finance Minister Liao Min held courtesy talks with U.S. Treasury Secretary Janet Yellen, further emphasizing the importance of high-level engagement between the two nations.
This meeting reflects ongoing efforts by both the Chinese and U.S. governments to navigate complex economic landscapes and collaborate on solutions to pressing global issues. The dialogue underscores the significance of open communication in fostering stability and mutual understanding in international economic relations.
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China, U.S. discuss macroeconomic policies and global challenges
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