US-China relations: Treasury Secretary Janet Yellen says close cooperation vital for economy and to fight ‘existential threat’ of climate change
- Yellen also says the two sides must discuss their concerns about economic practices and says Washington wants a ‘fair set of rules’
- Her visit follows a trip to Beijing last month by Secretary of State Antony Blinken as part of ongoing efforts to repair strained ties
Speaking at Beijing’s Diaoyutai state guest house, Yellen told Chinese vice-premier He Lifeng that the two countries should interact “directly” when they have concerns about each other’s economic practices.
She said they must continue talking to avoid misunderstandings and “help both sides more fully understand the global economic outlook and make better decisions to strengthen our economies”.
Last year two-way trade totalled US$690 billion last year and Yellen said: “The fact that despite recent tensions we set a record for bilateral trade in 2022 suggests there is ample room for our firms to engage in trade and investment.”
He responded that Beijing regretted that “unexpected incidents” had derailed efforts to improve China-US ties following a meeting between Presidents Joe Biden and Xi Jinping in November last year.
