Treasury secretary to make first trip to China
dominate relations, according to a senior Treasury official, who spoke on the condition of anonymity to detail her plans.
As high interest rates slow the U.S. and European economies, China’s export orders in June contracted for the third straight month, the government said Friday. Industrial exports are down 15 percent from their recent peak, according to Capital Economics. The treasury secretary’s visit is part of a sequenced diplomatic offensive that began in November with a meeting between President Biden and Xi at the G-20 summit in Bali, Indonesia, and then was abruptly derailed earlier this year by the spectacle of a Chinese spy balloon drifting across the United States.That incident prompted the United States to cancel a planned visit by Secretary of State Antony Blinken, who finally made it to the Chinese capital in June. Blinken, the highest-ranking U.S.
Routine contacts of that sort fell out of favor in recent years, first in Washington and later in Beijing. “She has a favorable image in Beijing,” said Myron Brilliant, senior counselor with Dentons Global Advisors-ASG. “They see her as a pragmatist at a time when that’s in short supply.”
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