During her visit to Beijing, the Treasury Secretary will discuss with members of the government the importance of “the two countries responsibly managing their relationship as the world’s leading economies,” according to the Treasury Department.
Likewise, Yellen intends to stress the need to “communicate directly on areas of interest and work to address global challenges.”
“We don’t expect any significant breakthrough (in relations between the two countries) during this trip,” a Treasury official said.
“However, we hope to have constructive discussions and establish channels of communication in the long term” with China, he added.
Diplomatic and economic relations between the two countries have gradually deteriorated since the era of former Republican President Donald Trump.
In November, US President Joe Biden met his Chinese counterpart Xi Jinping for the first time in an effort to ease tensions.
In mid-June, US Secretary of State Anthony Blinken went to Beijing, where he was received by the Chinese president, a meeting that was interpreted as a diplomatic advance.
But at a campaign rally in California at the end of June, Biden called his Chinese counterpart a “dictator”, in what Beijing deemed a “provocation”.
Last year, the Biden administration imposed restrictions on the export of US semiconductors and technology components to China. Prior to that, it had maintained tariffs imposed by Trump on products exported by China to the United States.
“On this visit, we want to deepen and enhance the pace of contacts between our two countries, stabilize relations to avoid misunderstandings, and expand our cooperation wherever possible,” said a Treasury official.
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