The United States Secretary of the Treasury, Janet Yellenarrived in Beijing on Thursday at the start of a high-level visit aimed at improving communications and stabilizing tense relations between the world’s two largest economies.
(You can read: The White House pronounces on cocaine found in the building: where did it come from?)
The trip, which runs through Sunday, is Yellen’s first to China as Treasury secretary and comes a few weeks after Secretary of State Antony Blinken visited the country.
(Also read: Learn about the harsh penalties for undocumented migrants in Florida, United States)
Yellen arrived in Beijing a little after 5 pm local time (0900 GMT) and was greeted on the airport tarmac by US Ambassador to China Nicholas Burns and Yang Yingming, a senior official at the Chinese Ministry of Finance.
The purpose of the Treasury Secretary’s visit is broaden channels of interaction, avoid misunderstandings and improve collaboration on issues such as the global economy and climate changeaccording to a senior official in his department.
Yellen is scheduled to meet with Chinese Premier Li Qiang on Friday, and her schedule also includes a meeting with former Vice Premier Liu He, and a dinner hosted by former China Central Bank Governor Zhou Xiaochuan, she told reporters. this Thursday a Treasury official.
(Also read: Joe Biden officials ordered to limit contacts with social media companies)
His trip, which takes place in a context of concern about the tone of the economic recovery in China and the rise in interest rates in the United States, could be an opportunity for dialogue on the prospects for growth in both countries.
Yellen had previously expressed her intention to travel to Beijing, but these plans were thrown into doubt by the escalation of tension earlier this year after the United States shot down an alleged Chinese spy balloon.
The fact that he is staying in Beijing for four days, taking into account all his other domestic and international pressures, underlines the importance he attaches to this visit.
“The fact that he is staying in Beijing for four days, given all his other domestic and international pressures, underscores the importance he attaches to this visit,” Wendy Cutler, vice president of the Asia Society Policy Institute, told AFP.
(We recommend: The cases of fraud in Miami against Colombians seeking to migrate to the United States)
Despite the long list of mutual reproaches and the little flexibility to readjust their policies, the visit will allow Yellen to pave the way for future collaboration, Cutler added..
What can you expect from this visit?
For Lindsay Gorman, an academic associated with the German Marshall Fund of the United States, Yellen’s visit is part of an effort by the United States to readjust relations between the two countries.
“It’s about managing the new realm of strategic competition,” he added.
Citing security reasons, The United States has imposed controls on the export of technology to China, especially in the semiconductor sector.
(You can read: Joe Biden is still ahead of Trump in the polls)
“I think you have to explain and communicate what the purpose of these measures really is,” Gorman said.
In a sample of the challenges Yellen faces, the Wall Street Journal reported that the US government is considering restricting Chinese firms’ access to cloud computing services from companies like Amazon or Microsoft.
(Also: The laws that made trans people a ‘nightmare’ in America)
Yellen may be in a better position to build bridges with China on global challenges shared by both economies, Gorman said. But disagreements remain on multiple economic issues, such as alleged US plans to restrict foreign investment in some sensitive technologies, which could affect the flow of capital to China.
Washington is also concerned about Beijing’s “coercive actions and non-commercial economic practices.”according to a Treasury official.
(You can read: United States Supreme Court ends Biden’s plan to cancel student debt)
Although senior US officials have stressed that they do not want a disengagement from the Chinese economy, but rather a reduction in dependency and risk, it remains to be seen whether Beijing will be satisfied. In areas like debt relief for troubled countries, cooperation seems easier.
AFP
#objectives #visit #Treasury #Secretary #China