(Bloomberg) -- US Treasury Secretary Janet Yellen will meet China’s central bank chief and former economic czar in Beijing as she wraps a trip that’s been a ...
-- US Treasury Secretary Janet Yellen will meet China ’s central bank chief and former economic czar in Beijing as she wraps a trip that’s been a delicate balancing act in strengthening bilateral ties while delivering sharp criticisms of Beijing ’s economic policies.Turkey Joins NATO Allies in Suspending Europe Arms Treaty
The gamut of Yellen’s delicate diplomatic task was on show Friday, when she joined China’s Vice Premier He Lifeng for a boat cruise on the Pearl River in the southern city of Guangzhou after a long day of berating the Chinese government about overcapacity in their economy.During that excursion the pair exchanged gifts, according to two people present. The vice premier told Yellen he personally chose his offering — a large platter upon which a Chinese artist had replicated her official portrait.
As Treasury chief, Yellen now seems intent on preventing a rerun as President Xi Jinping tries to offset China’s property crisis by shifting more investment into manufacturing, particularly new industries around clean energy — the same sectors the US is keen to foster at home. Yet, Yellen’s tough message hasn’t hurt progress made between the two sides. They agreed to move forward with a new round of talks focused exclusively on what Yellen and He euphemistically referred to as “balanced growth in the domestic and global economies.”
U.S. Treasury Secretary Janet Yellen said Saturday that upcoming U.S.-China talks will tackle a top Biden administration complaint that Beijing's economic model and trade practices put American companies and workers at an unfair competitive disadvantage.
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