Yellen: Talking can fix US-China trade issues.

U.S. Treasury Secretary Calls on China to Communicate Directly

U.S. Treasury Secretary Janet Yellen on Saturday emphasized the importance of direct communication with the Chinese regime regarding specific economic practices. During her trip to Beijing, Yellen met with China’s Vice Premier He Lifeng to address strained economic relations. While critics argue that Yellen lacks strength in engaging with Chinese officials, she remains committed to open dialogue.

“Where we have concerns about specific economic practices, we should and will communicate them directly,” Yellen stated during the meeting.

Yellen believes that despite recent tensions, there is ample room for trade and investment between the two countries. She highlighted the record-breaking bilateral trade in 2022 as evidence that uncontroversial economic interactions are possible.

Strained U.S.-China Ties

The meetings between Yellen and Chinese officials took place amidst a downward spiral in U.S.-China relations. Recent incidents, such as a Chinese surveillance balloon being shot down by the U.S. military, have further strained the bilateral ties. Vice Premier He expressed regret over these “unexpected incidents” and acknowledged the challenges in implementing previously agreed-upon consensuses.

Yellen’s trip aims to ease tensions and deepen communication with the Chinese Communist Party. However, it has faced criticism for its timing and the perceived weakness of Yellen’s remarks.

Addressing Climate Change

Prior to her meeting with Vice Premier He, Yellen emphasized the need for collaboration between China and the United States in addressing climate change. She highlighted the success of the 2015 Paris Agreement as an example of bilateral cooperation and stressed the criticality of continued collaboration.

Yellen’s trip coincides with China’s commitment to achieve carbon neutrality by 2060. However, experts have questioned the sincerity of China’s efforts to reduce carbon emissions. Yellen called for efficient and effective climate finance, urging China to support existing multilateral climate institutions.

Analysis and Criticism

Yellen’s trip has drawn criticism for various reasons. Some argue that it lacks a strong stance against China, prioritizing short-term corporate profit over American values. Others question the timing of the trip, coinciding with China’s new export restrictions on critical minerals. Despite the criticism, Yellen remains committed to open dialogue and finding common ground.

Conclusion

U.S. Treasury Secretary Janet Yellen’s trip to Beijing serves as a diplomatic effort to mend strained economic relations and deepen communication with Chinese officials. While facing criticism, Yellen emphasizes the importance of direct communication and collaboration on issues such as specific economic practices and climate change. The outcome of her trip will shape the future of U.S.-China relations.