U.S. Treasury Secretary Janet Yellen said her recent visit to China was "constructive," leading to substantive meetings and opening opportunities for more frequent contacts in the future. The visit is part of ongoing efforts to stabilize U.S.-China relations after months of escalating tensions. Yellen arrived in Beijing on July 6 for her first visit under the Biden administration. - The visit could pave the way for a meeting between Biden and Chinese President Xi Jinping on the sidelines of the G-20 leaders' summit in New Delhi in September and the APEC leaders' summit in San Francisco in November.
- Yellen's task in Beijing was complex, addressing concerns including national security and the intimidation some American companies have been experiencing.
- She also sought Chinese cooperation on issues ranging from climate change to debt distress.
- Days before Yellen's visit, Beijing imposed export curbs on chipmaking metals and compounds.
- Yellen expressed concern about these export controls.
- Yellen stated that China is taking steps to address concerns about a slowing economy and that there are opportunities for American businesses to profit.
Secretary of State Antony Blinken visited Beijing last month, the first trip by the top U.S. diplomat in Biden's presidency. Climate envoy John Kerry is expected to visit this month. - Vice Premier He Lifeng warned the U.S. on Saturday that "generalizing national security" was not conducive to economic exchanges, according to the official Xinhua News Agency.
| 