U.S. Treasury Secretary Janet Yellen has concluded a six-day visit to the Chinese mainland, marking her second trip since July 2023. Amid escalating economic, technological, and trade competition between China and the United States, Yellen’s visit is seen as a positive step toward stabilizing relations between the world’s two largest economies.
During her visit, Yellen met with high-ranking Chinese officials, including Premier Li Qiang, Vice Premier He Lifeng, and Minister of Finance Lan Fo’an. The discussions focused on implementing the important consensus reached by the two countries’ heads of state, with candid, pragmatic, and constructive dialogues on the macroeconomic situations of both nations and the global economy.
“Yellen’s visit to China has played a threefold positive role in stabilizing China-U.S. relations,” said Yan Zhanyu, a scholar on international relations at the University of International Business and Economics in China. “First, it consolidated the strategic communication mechanism initiated during her last visit in September, facilitating bilateral discussions on economic and financial policies.”
Two significant initiatives were launched during Yellen’s latest trip: the Exchange on Balanced Growth in the Domestic and Global Economies, and the Joint Treasury-People’s Bank of China Cooperation and Exchange on Anti-Money Laundering. According to Gao Zhijun, an assistant research fellow at the Chinese Academy of Social Sciences, these initiatives will “facilitate the progress of working together on the common good and resolving differences in a pragmatic manner.” Gao added that the technical nature of these exchanges helps mitigate political and ideological influences, allowing both teams to focus on practical issues.
Yellen’s visit also signaled positive developments in people-to-people exchanges between the two nations. In Guangzhou and Beijing, her visits to local restaurants drew attention on Chinese social media platforms, reflecting public interest in fostering closer ties.
However, Chinese experts caution that efforts to stabilize relations may face challenges due to unfavorable policies toward China from the White House amid the U.S. presidential elections. Despite these uncertainties, Yellen’s trip underscores the importance of dialogue and cooperation in navigating the complex landscape of China-U.S. relations.
Reference(s):
cgtn.com
