Yellen Concludes China Visit, Calls Talks With Beijing 'Direct, Substantive, And Productive': CNBC

U.S. Treasury Secretary Janet Yellen has concluded her four-day visit to Beijing, during which she held “direct, substantive and productive” talks with Chinese officials. The meetings, which totaled about 10 hours over two days, aimed to stabilize relations between the world’s two largest economies, CNBC reports.

Yellen’s Visit: A Step Towards Stability

Yellen’s visit comes amidst Washington’s consideration of curbs on U.S. investment in China, in light of the escalating global battle for technological supremacy. “The U.S. and China have significant disagreements. Those disagreements need to be communicated clearly and directly,” Yellen said in prepared remarks. She emphasized that both nations have an obligation to responsibly manage their relationship and share in global prosperity.

See Also: Yellen Calls Out China’s Unfair Treatment Of US Companies, Aims To Revive Economic Ties: Benzinga

Addressing the Concerns

During her press conference, Yellen assured that any curbs on U.S. outbound investments would be “transparent” and “very narrowly targeted.” She also made it clear that the United States is not seeking to decouple from China, distinguishing between decoupling and diversifying critical supply chains or taking targeted national security actions.

Looking Ahead

Yellen’s visit is part of ongoing efforts to stabilize U.S.-China relations after months of escalating tensions. These efforts could pave the way for a meeting between President Joe Biden and Chinese President Xi Jinping at the upcoming G20 leaders’ summit in New Delhi in September and the APEC leaders’ summit in San Francisco in November.

Photo Courtesy: Shutterstock.com

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