2023-07-08 11:51:23
(Beijing) Relations between the United States and China now have “more solid foundations”, US Treasury Secretary Janet Yellen said on Sunday, optimistic following a four-day trip to Beijing aimed at easing tensions between the two leading world powers.
Updated yesterday at 10:46 p.m.
Beiyi SEOW Agence France-Presse
Arriving in the Chinese capital on Thursday, Ms. Yellen was received by several senior government officials, including Prime Minister Li Qiang, and continued to plead for more exchanges and collaborations despite the differences.
“Overall, I believe that my bilateral meetings – which lasted a total of ten hours over two days – were a step forward in our efforts to establish the relationship between the United States and China on more solid foundations,” she said Sunday at a press conference at the US Embassy.
PHOTO MARK SCHIEFELBEIN, ASSOCIATED PRESS
Janet Yellen and Deputy Prime Minister He Lifeng
The visit, Ms. Yellen’s first since taking office in 2021, comes a few weeks following that of Secretary of State Antony Blinken and marks the Biden administration’s desire to stabilize strained bilateral relations.
“Both nations have an obligation to manage this relationship responsibly: find a way to live together and share global prosperity,” said the Treasury Secretary, stressing the “vital” importance of high-level contacts.
“We believe the world is big enough for our two countries to prosper.”
While no major progress has been communicated, the official Xinhua news agency stressed that the meeting on Saturday between Ms. Yellen and Deputy Prime Minister He Lifeng had made it possible to agree on “strengthening communication and cooperation to face global challenges.
“Major disagreements”
The US Treasury Secretary admittedly acknowledged that there are “significant disagreements” between the two countries, but she assured that the discussions in Beijing were “direct, substantial and productive”.
The main sticking point is in semiconductors, with the imposition in recent months of restrictions to cut off Chinese companies’ supply of American technology, including chips.
China, which seeks to become autonomous in this area, believes that these measures are aimed at hindering its development and maintaining American supremacy.
The United States will continue to carry out “targeted actions” to preserve its national security, warned Ms. Yellen.
But “it is important to note that these actions are motivated by simple national security considerations. We do not use them to gain economic advantage.”
As the United States considers new measures that might more strictly regulate American investments in China, the Treasury Secretary assured that these would be applied “transparently”.
“I stressed (to Chinese officials, editor’s note) that these would be very targeted measures and directed clearly at a few sectors for which we have national security concerns,” she said.
“I want to dispel their fears that we are doing something that will have large-scale repercussions on the Chinese economy. This is not the case, this is not the intention”.
She also expressed Washington’s “serious concerns” regarding Beijing’s “unfair trade practices” and “the recent upsurge in coercive actions once morest American companies”, referring to raids and investigations targeting companies in recent months. audit in China.
« Enthusiastic »
“The two parties haven’t had this level of communication and consultation for several years,” said Yun Sun, director of the China program at the Stimson Center.
But if Ms. Yellen is already displaying her optimism, “the announcement of any concrete progress and any major result will probably be reserved for the two main leaders”.
PHOTO MARK SCHIEFELBEIN, ASSOCIATED PRESS
Janet Yellen met women economists over dinner.
Last month, Joe Biden said he was confident regarding an upcoming meeting with his Chinese counterpart Xi Jinping.
For Lindsay Gorman, of the American think tank German Marshall Fund, “the main objective of this trip is really to send a message” to “allies and partners of the United States, both in the region and in the world”. .
China has been “more enthusiastic” regarding the US Treasury Secretary than during Blinken’s visit, notes Wu Xinbo, director of the Center for American Studies at Fudan University.
“Its attitude towards economic and trade relations between China and the United States is relatively rational,” he adds, stressing that it opposes the decoupling between the two economies.
Taylor Fravel, of MIT (Massachusetts Institute of Technology), however, calls for moderating optimism: “I don’t think that a single visit or interaction can alone achieve the goal of stabilizing relations”.
But it shows a desire for continued economic cooperation between Washington and Beijing, “despite political friction in the relationship and competitive actions to limit China’s access to certain technologies such as semiconductors.”
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