2023-07-09 12:52:41
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Janet Yellen described relations with China as fruitful
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US Treasury Secretary Janet Yellen said her visit to Beijing is a “step forward” in efforts to improve relations between the two countries.
Yellen spoke at the end of a four-day trip, during which she held talks on issues including climate change.
Describing the talks as “straightforward, substantive and fruitful,” she said the two sides learned more regarding each other.
However, she admitted that there are “significant differences” between the United States and China.
“No visit will solve the challenges we face overnight,” she said.
“But this trip will help establish a flexible and fruitful channel of communication with China’s new economic team.”
The relationship between the United States and China has deteriorated in recent years. Issues at the root of the differences between the two countries include human rights in Xinjiang and Hong Kong, the issue of Taiwan and the South China Sea, and Beijing’s increasing dominance over a range of industries.
Chinese Vice Premier He Lifeng, who was among those who met Yellen, said on Saturday that he regretted “unexpected incidents”, such as the dispute over a spy balloon, that had damaged relations with the United States.
Yellen stressed the need for better communication in order to try to overcome these issues, adding that US President Joe Biden “did not see the relationship between the United States and China through the framework of a great power struggle.
“We think the world is big enough for both of our countries to thrive,” she said.
On the issue of economic competition, Yellen said the United States seeks “a global economy that is dynamic, healthy, open, free and fair, not one that segments or forces countries to take sides.”
She added that any future restrictions on business with China would be implemented in a “transparent manner” and focus on sectors where the United States had “specific national security concerns”.
Earlier, Yellen criticized the restrictions imposed by Beijing on US companies, including tighter controls on exports of two materials important for the production of computer chips.
The move follows efforts by Washington last year to limit Chinese access to some advanced computer chips.
Yellen said the United States will resist China’s “unfair economic practices”.
In response, China’s Ministry of Finance said that “the nature of economic and trade relations between China and the United States is mutually beneficial and win-win” and that there is no winner in a trade war.
On climate change, Yelin urged Beijing to work with the United States and support institutions such as the Green Climate Fund, which was set up to help developing countries adapt to climate change and reduce its impacts.
It is noteworthy that the Secretary of the Treasury is the second senior official in Washington to visit Beijing in the past two months, as US Secretary of State Anthony Blinken visited Beijing in June, the highest official in Washington to visit the Chinese capital in nearly half a decade, and said that while she is still there Major outstanding issues between the two countries , he hopes they will have ” better communication , better sharing .”
However, the next day, President Joe Biden referred to Xi as a “dictator,” sparking outrage in Beijing.
Despite the political tensions, trade between the two countries grew in 2022 for the third year in a row.
According to official figures, China exported more than $536 billion worth of goods to the United States last year, while $154 billion worth of goods went the other way.
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