GUANGZHOU: The United States and China have agreed to engage in “exchanges on balanced growth,” according to a statement from the US Treasury Department.
This agreement was reached after two days of extensive discussions between the US Treasury Secretary Janet Yellen and her Chinese counterpart He Lifeng in Guangzhou.
These planned talks represent a continued effort to improve relations between the world’s two largest economies since a meeting between Presidents Joe Biden and Xi Jinping in November of last year. Yellen expressed her intentions for these discussions, stating, “These exchanges will facilitate a conversation on macroeconomic imbalances, including their relationship to overcapacity, and I aim to advocate for a fair playing field for American workers and businesses.”
Yellen’s visit to China, her second in the past year, takes place amidst ongoing tensions between Washington and Beijing on various fronts, including access to advanced technology, the status of Taiwan, and the operation of the TikTok application.
“Secretary Yellen underscored the importance that companies, including those in the PRC, refrain from providing support to Russia’s actions in Ukraine, including assistance to the Russian defense industry.
