Yellen to Visit China, Aims to Enhance Communication

Exciting news! U.S. Treasury Secretary Janet Yellen is heading to China this week for some important talks with senior Chinese officials. This visit comes as part of the United States’ efforts to strengthen ties with China’s ruling communist party.

Yellen will be in Beijing from July 6 to July 9, engaging in discussions with the Chinese Communist Party (CCP) on global macroeconomy and financial developments. The Biden administration is determined to deepen communication with China and address various global challenges together.

During her visit, Yellen will emphasize the need for responsible management of the relationship between the world’s two largest economies. It’s crucial for them to communicate directly about areas of concern and work together to tackle global challenges.

Interestingly, this visit follows State Secretary Antony Blinken’s recent trip to Beijing, where he met with Chinese Foreign Minister Qin Gang, top Chinese diplomat Wang Yi, and Chinese leader Xi Jinping. They all agreed to stabilize the tense relations between the two powers.

Xi Jinping expressed satisfaction with the progress made during the talks with Blinken. However, Blinken revealed that China refused to resume bilateral exchanges at the military level.

While the specific Chinese officials Yellen will meet remain undisclosed, the Treasury Department mentioned that her discussions will build upon her previous remarks at the John Hopkins School of Advanced International Studies in April.

US Won’t Decouple Economy With China

In a compelling speech, Yellen emphasized the United States’ desire for a healthy relationship with China. She called for cooperation on urgent global challenges like climate change and debt distress.

“Both countries can benefit from healthy competition in the economic sphere. But for that competition to be sustainable, it must be fair. We will continue to collaborate with our allies to address China’s unfair economic practices,” she stated boldly.

Yellen made it clear that the United States has no intention of severing its economic ties with China. Such a move would be disastrous for both countries and destabilizing for the rest of the world.

“We understand that the well-being of the Chinese and U.S. economies