2023-07-03 02:06:56
Diplomacy
US Treasury Secretary to visit China
After Secretary of State Antony Blinken, Janet Yellen, US Treasury Secretary, will make an official trip to China.
Posted3 July 2023, 04:06
In April, Treasury Secretary Janet Yellen detailed the principles guiding US economic relations with China.
US Treasury Secretary Janet Yellen will travel to China from Thursday to Sunday to meet with Chinese officials, the ministry said on Sunday.
During her stay in Beijing, the Minister of Finance will meet with members of the government “on the importance for (the two) countries, as the world’s leading economies, of managing (their) relationship in a responsible manner”, according to the Treasury Department. Janet Yellen also intends to emphasize the need to “communicate directly on issues of concern and work to address global challenges”.
“We do not expect any significant breakthrough (in relations between the two countries) from this trip,” a Treasury Department official said. “However, we hope to have constructive discussions and establish longer-term communication channels” with China, added the official.
Damaged relationships
In April, the Treasury Secretary detailed the principles guiding US economic relations with China. The US government seeks first to “preserve its national security interests as well as those of its allies”. It also intends to “defend human rights through targeted actions that are not intended to gain economic advantage from them”.
The United States also wants to establish “sound economic relations with China that promote growth and innovation” in both countries. Finally, Joe Biden’s government wants to “cooperate on pressing global issues like climate change and debt relief” from developing countries.
Diplomatic and economic relations between the two countries have gradually deteriorated since Donald Trump’s tenure. In November, US Head of State Joe Biden met Chinese President Xi Jinping in person for the first time to try to ease tensions. In mid-June, Secretary of State Antony Blinken traveled to Beijing and was received by the Chinese head of state, a gesture interpreted as a diplomatic advance.
“Dictator”
But during a campaign meeting in California at the end of June, Joe Biden called Xi Jinping a “dictator”, remarks considered a “provocation” by Beijing. The Biden government last year imposed restrictions on the export of American semiconductors and technology components to China. Before that, he had kept in place the tariffs imposed by Donald Trump on hundreds of billions of dollars of products exported by China to the United States.
“During this trip, we want to deepen and strengthen the frequency of communication between our countries and stabilize relations, to avoid misunderstandings and expand our collaboration where possible,” said a Treasury Department official. Janet Yellen also plans to inform the Chinese authorities of the “concerns” raised by the new anti-espionage law that came into force in China on Saturday, according to the official.
This text gives the government more leeway to combat national security threats, which raises concerns among foreign companies operating in China. The Treasury Secretary and her teams want “to have a better understanding of how this state (China) plans to apply this law”.
(AFP)Show comments
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