US Treasury Secretary, Janet Yellen, is set to visit Beijing this week for a meeting with senior Chinese officials, CNBC reports.
The Treasury has indicated that Yellen’s visit aims to discuss various macroeconomic and financial issues. The goal is to “responsibly manage our relationship, communicate directly about areas of concern, and work together to address global challenges.”
A senior Joe Biden administration official said, “We do not seek to decouple our economies, a full cessation of trade and investment would be destabilizing for both of our countries and the global economy.” However, the administration does not anticipate significant breakthroughs during this visit.
In an April speech, Yellen outlined three economic priorities for the US-China relationship: securing national security interests, fostering mutually beneficial growth, and cooperating on global challenges like climate change and debt distress. These objectives will be underscored during her visit.
Chinese state broadcaster CCTV confirmed that Yellen will be visiting from July 6-9. This visit follows closely on the heels of Secretary of State Antony Blinken’s meeting with China’s President Xi Jinping in Beijing.
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Edited by Arnab Nandy
