Janet Yellen To Visit China Beginning July 6, Biden Administration Doesn't Seek Decoupling: Report

US Treasury Secretary, Janet Yellen, is set to visit Beijing this week for a meeting with senior Chinese officials, CNBC reports.

The Objective of the Visit

The Treasury has indicated that Yellen’s visit aims to discuss various macroeconomic and financial issues. The goal is to “responsibly manage our relationship, communicate directly about areas of concern, and work together to address global challenges.”

Expectations from the Visit

A senior Joe Biden administration official said, “We do not seek to decouple our economies, a full cessation of trade and investment would be destabilizing for both of our countries and the global economy.” However, the administration does not anticipate significant breakthroughs during this visit.

Yellen’s Economic Priorities

In an April speech, Yellen outlined three economic priorities for the US-China relationship: securing national security interests, fostering mutually beneficial growth, and cooperating on global challenges like climate change and debt distress. These objectives will be underscored during her visit.

Visit Schedule

Chinese state broadcaster CCTV confirmed that Yellen will be visiting from July 6-9. This visit follows closely on the heels of Secretary of State Antony Blinken’s meeting with China’s President Xi Jinping in Beijing.

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