Sec. Yellen’s Beijing trip comes at a time when Washington is considering curbs on U.S. investment in China amid an escalating global battle for technological supremacy. She is the second member of Pres. Biden’s Cabinet to visit Beijing in recent weeks.
Yellen said she “made clear that the United States is not seeking to decouple from China,” in her discussions with“There is an important distinction between decoupling, on the one hand, and on the other hand, diversifying critical supply chains or taking targeted national security actions,” she said.
“The two sides agreed to strengthen communication and cooperation on addressing global challenges, and continue maintaining exchanges and interactions,” the statement added.Yellen’s task in Beijing was a tricky one. While she expressed her worries on “a recent uptick in coercive actions against American firms,” she also sought to seek Chinese cooperation on issues ranging from debt distress in emerging markets and developing countries to climate change.in the U.S.
“My objective during this trip has been to establish and deepen relationships with the new economic leadership team in place in Beijing. Our discussions are part of a broader concerted effort to stabilize the relationship, reduce the risk of misunderstanding, and discuss areas of cooperation,” Yellen said Saturday.
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