The United States seeks sound economic relations with China that promote growth and innovation in both countries. The Joe Biden government also wants to cooperate on pressing global issues such as climate change and debt relief” for developing countries.
US Treasury Secretary Janet Yellen will visit China from Thursday to Sunday, where she will meet with Chinese officials, the ministry announced.
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.
Yellen also intends to stress the need to “communicate directly on areas of interest and work to address global challenges.”
“We do not expect any significant breakthrough (in relations between the two countries) during this trip,” a Treasury official said, adding, “However, we hope to have constructive discussions and establish long-term channels of communication” with China.
In April, the Treasury Secretary detailed the principles guiding US economic relations with China. The United States government seeks first to “preserve its own national security interests as well as those of its allies.” It also intends to “defend human rights through targeted actions that are not intended for economic gain”.
The United States also seeks to establish “sound economic relations with China that promote growth and innovation” in both countries. Joe Biden’s government wants to “cooperate on pressing global issues such as climate change and debt relief” for developing countries.
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 during a campaign rally in California at the end of June, Biden called his Chinese counterpart a “dictator,” in a statement Beijing considered 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.
“With 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,” a Treasury official said.
Also, Yellen intends to inform the Chinese authorities of the “concerns” raised by the new anti-espionage law that entered into force on Saturday in China, according to the official.
This text gives the Chinese government more freedom to fight any threats to national security, which raises concerns among foreign companies operating in China.
The Treasury secretary and her teams want to “get a better understanding of how (China) intends to implement this law.”
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2023-07-03 04:56:39
