Yellen's China foray raises hope of more dialogue
Yellen’s visit should help improve that situation “and remind both sides that the U.S., China and the world will suffer absent more co-operation,” Sobel added.
Yellen warmed up for the trip Monday by meeting with China’s new ambassador to the United States, Xie Feng, for what theYellen will arrive in Beijing on Thursday; neither the Biden administration nor the Chinese Communist Party have disclosed whom she will meet with. But she is expected to try to persuade Chinese officials that U.S.
For their part, Chinese officials are likely to have questions about just how much trade the Biden administration intends to restrict on national security grounds, as well as the timing of a long-anticipated executive order that would restrict U.S. companies from investing in certain sectors of the Chinese economy, such as microchips and artificial intelligence and quantum computing.
Blinken’s trip was originally scheduled to take place in February, following a meeting between President Joe Biden and Chinese President Xi Jinping last November in Indonesia. But the State Department postponed the trip amid the political furor over the discovery of a Chinese spy balloon floating over the United States. In the aftermath, the Biden administration also put long-anticipated trips by Yellen and Commerce Secretary Gina Raimondo on ice.
Yellen’s trip could help smooth the way for Xi to visit the United States in November, when Biden will host the annual Asia-Pacific Economic Cooperation leaders summit in San Francisco. Yellen is not expected to meet Xi during this visit, even though Blinken did on his trip. She more likely will meet with Chinese Vice Premier He Lifeng and other senior officials.
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