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U.S. Treasury Secretary Janet Yellen on Thursday began a four-day visit to China focused on easing tensions between the world’s two largest economies, despite low expectations on both sides.
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Shortly after arriving in the Chinese capital, Yellen said she was glad to be in Beijing and looked forward to advancing President Joe Biden’s goal of deepening communication between the economically linked but increasingly adversarial countries.
“We seek a healthy economic competition that benefits American workers and firms and to collaborate on global challenges,” Yellen wrote on Twitter.
“We will take action to protect our national security when needed, and this trip presents an opportunity to communicate and avoid miscommunication or misunderstanding.”
I am glad to be in Beijing to meet with Chinese officials and business leaders. We seek a healthy economic competition that benefits American workers and firms and to collaborate on global challenges,
— Secretary Janet Yellen (@SecYellen) July 6, 2023
Yellen received a low-key welcome from a Chinese finance ministry official and the U.S. envoy to China, Nicholas Burns, as she stepped off a government plane just after a rainstorm brought some relief to an otherwise sweltering Beijing.
Both sides are sceptical that Yellen’s visit will be able to take much heat off of U.S.-China ties, however, with officials accepting that both countries have placed safeguarding national security interests above deepening economic ties.
“Especially if there are things that we may disagree about, it’s even more important that we are talking,” said a U.S. official travelling with Yellen, speaking…
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