'Healthy economic competition is only sustainable if it benefits both sides,' United States Treasury Secretary Janet Yellen says.
BEIJING, China – US Treasury Secretary Janet Yellen said 10 hours of bilateral meetings with senior Chinese officials in recent days were “direct” and “productive” and helped stabilize the often rocky relationship as her four-day Beijing trip ended.
“But President [Joe] Biden and I do not see the relationship between the US and China through the frame of great power conflict. We believe that the world is big enough for both of our countries to thrive.” The US diplomatic push comes ahead of a possible meeting between President Biden and Xi as soon as September’s Group of 20 summit in New Delhi or the Asia-Pacific Economic Cooperation gathering scheduled for November in San Francisco.
She said Chinese officials raised concerns about an expected executive order restricting outbound investment, but she assured them that any such measure would be narrow in scope and would be enacted in a transparent way, through a rule-making process that would allow public input. Asked about plans by the so-called BRICS countries – Brazil, India, Russia and China – to unveil a new currency, Yellen said she expected the dollar to remain the dominant currency in international transactions.
In her meetings, she urged more cooperation between the sides on economic and climate issues while criticising what she called “punitive actions” against US companies in China.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
World daily temperature records smashed -- here's how we knowWASHINGTON, United States- World daily temperature records have been smashed this week, according to preliminary data.
Read more »
US destroys its last chemical weapons, watchdog hails milestonePresident Joe Biden announced that the United States has fully destroyed its decades-old stockpiles of chemical weapons, a milestone hailed as completing the elimination around the world of all known stores of the agents of mass death.
Read more »
Yellen urges US-China cooperation on economy, climateU.S. Treasury Secretary Janet Yellen urged closer communication between China and the United States to improve economic decision-making and challenged China to join global initiatives to help poorer nations address climate change. | Reuters
Read more »
Yellen China visit seeks to create more talks amid tensions | Viktoria Dendrinou & Enda Curran / BloombergUS Treasury Secretary Janet Yellen visits China this week with the goal of finding areas of common economic ground and opening communication channels amid an increasingly turbulent relationship between the world’s two biggest economies. It will be the first major test of a policy she outlined in April that’s geared…
Read more »
Yellen urges China to adopt market reforms, says U.S. not decouplingU.S. Treasury Sec. Janet Yellen kicked off a four-day visit to Beijing by calling for market reforms in the world’s second-largest economy and warning that the U.S. and its allies will fight back against what she called China’s “unfair economic practices.”
Read more »
Yellen urges China to support existing institutions to fight climate changeThe United States and China, as the world’s two largest economies, must work together to combat the “existential threat” of climate change, U.S. Treasury Secretary Janet Yellen told Chinese government officials and climate experts.
Read more »