2023-07-11 09:00:04
Less than three weeks after Secretary of State Antony Blinken, it was Treasury Secretary Janet Yellen’s turn to go to Beijing. Arrived Thursday, July 6 in the afternoon, she left Sunday after about ten hours of talks with her Chinese interlocutors: the Prime Minister, Li Qiang, the Deputy Prime Minister in charge of finance, He Lifeng, finance minister Liu Kun and the newly appointed head of the People’s Bank of China, Pan Gongsheng. Sign of the importance that this trip had for the Americans: the New York Times did not hesitate to devote a live broadcast to him on Sunday, on his website. Very soon, John Kerry, Joe Biden’s “Mr. Climate”, should also visit China.
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The main good news of Mrs. Yellen’s visit… is that it happened. Eight months after the meeting between Joe Biden and Xi Jinping, in Bali in November 2022, the two countries are finally talking to each other again. The affair of the Chinese spy balloon, which, according to the Pentagon, finally spied on nothing while flying over the United States at the beginning of the year, seems to be fading. The US Treasury Secretary’s “charm operation” seems to have worked. No incident was to be deplored during these four days. The Chinese even raved about his dexterity in handling chopsticks.
Mrs. Yellen had an asset. In the US administration, the position of Treasury Secretary, who needs China to make ends meet, is the “good guy” of the team, while his colleague in charge of trade, who notes the abysmal deficit of the United States against Beijing, is the « bad guy ». “Our main concern is the customs barriers put in place by the Trump administration, and which remain in place, as well as the 1,300 Chinese companies which appear on the Entity List [elle répertorie les entreprises dont les activités sont interdites ou limitées par Washington] », explains Wu Xinbo, professor of international relations at Fudan University in Shanghai. Disputes that are not the responsibility of Janet Yellen. On Saturday, the New China press agency also described the visit as « constructive »but judged that“abusing national security is not conducive to normal economic and trade exchanges”.
Broken down on military matters
The US Treasury Secretary made a point of differentiating between the decoupling of economies (decoupling) and risk reduction (derisking) : “There is an important distinction between, on the one hand, the decoupling and, on the other, the diversification of crucial supply chains. We take action in the name of national security [qui sont] targeted. » But Beijing considers the two terms synonymous. These words are all the less likely to convince the Chinese that the United States is not content to limit its exposure to China, but block exports of the most sensitive technologies.
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