In a significant development, Secretary of the Treasury Janet L. Yellen held a productive meeting and dinner with Vice Premier He Lifeng of the People’s Republic of China in Beijing. The aim was to strengthen the engagement between key senior officials on macroeconomic issues, in line with the guidance from President Biden and President Xi.
The discussions between Secretary Yellen and Vice Premier He were characterized by openness, cooperation, and a comprehensive approach. While addressing areas of concern, Secretary Yellen highlighted the Administration’s commitment to fostering healthy economic competition between the United States and China, while ensuring a level playing field for American workers and businesses.
One of the key topics of the meeting was the exchange of views on global and domestic macroeconomic outlooks. The two officials discussed the current economic landscapes of their respective countries and explored potential areas of collaboration.
During the meeting, Secretary Yellen emphasized the importance of finding common ground and working together, even in the face of disagreements. She stressed the need for collaboration on shared issues of concern, both at a bilateral level and on a global scale. In particular, discussions touched upon addressing debt distress in low-income and emerging economies, as well as the crucial topic of climate finance.
This meeting signifies a commitment to constructive dialogue and cooperation between the United States and China on matters of economic importance. It lays the foundation for future engagements aimed at promoting mutual understanding, resolving differences, and advancing global economic stability.
The outcome of this meeting sets a positive tone for ongoing discussions between the two economic powerhouses and reinforces the importance of maintaining open lines of communication in order to address shared challenges and opportunities.