Posted Jul 3, 2023 at 8:23 a.m.Updated Jul 3, 2023 at 8:24 a.m.
No “significant breakthrough” is expected from this trip to Washington. And yet, it is a new step in the efforts of the United States and China to strengthen their diplomatic exchanges. Janet Yellen will travel to Beijing from Thursday to Sunday, the US Treasury Department said on Sunday.
During her stay in Beijing, the Minister of Finance will meet with members of the government “on the importance for (the two) countries, as the world’s leading economies, of managing (their) relationship in a responsible manner”, according to the Treasury Department. Janet Yellen also intends to insist on the need to “communicate directly on issues of concern and work to address global challenges”.
Improve economic relations
“We do not expect any significant breakthrough (in relations between the two countries) from this trip,” a Treasury Department official said. Stating: “We want to deepen and strengthen the frequency of communication between our countries and stabilize relations, to avoid misunderstandings and extend our collaboration where possible. »
In April, Janet Yellen detailed the principles guiding US economic relations with China. The US government seeks first to “preserve its national security interests as well as those of its allies”. It also intends to “defend human rights through targeted actions that are not intended to take advantage of them economically”.
The United States also wants to establish “sound economic relations with China that promote growth and innovation” in both countries. Finally, Joe Biden’s government wants to “cooperate on pressing global issues like climate change and debt relief” for developing countries.
Repair diplomatic relations
Diplomatic and economic relations between the two countries have gradually deteriorated under Donald Trump’s tenure. Last November, US head of state Joe Biden met Chinese President Xi Jinping in person for the first time to try to ease tensions. In mid-June, Secretary of State Antony Blinken went to Beijing and was received by the latter, a gesture interpreted as a diplomatic advance.
But during a campaign meeting in California at the end of June, Joe Biden called Xi Jinping a “dictator”, remarks considered a “provocation” by Beijing. The Biden government last year imposed restrictions on the export of American semiconductors and technology components to China. Before that, he had kept in place the tariffs imposed by Donald Trump on hundreds of billions of dollars of products exported by China to the United States.
This week, Janet Yellen also plans to raise “concerns” with Chinese authorities about China’s new anti-spy law that came into effect on Saturday, according to the official. This text gives Beijing more leeway to combat national security threats, which raises concerns among foreign companies operating in China. The Treasury Secretary and her teams want “to have a better understanding of how this state (China) plans to apply this law”.
2023-07-03 06:23:46
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