US Treasury Secretary Janet Yellen is visiting China on the 6th. She is paying attention to whether the recent conflict between the United States and China over semiconductors can reach a turning point with discussions on economic and trade relations.
According to a recent announcement by the US and Chinese authorities, Secretary Yellen will stay in China from this day to the 9th and will meet with Chinese government officials, including Prime Minister Li Chang, Vice Premier Heifeng, and Minister of Finance Liu Kun, Yonhap News reported.
Secretary Yellen is a person who is mentioned as the actual commander of the US economy. This visit was made on the 18th and 19th of last month, when US Secretary of State Tony Blincoln decided to continue high-level communication during his visit to China.
This is the first visit to China by a person at or above the US ministerial level after an agreement was reached on stabilization of bilateral relations.
It is expected that Minister Yellen will discuss pending issues such as Korea’s high tariffs with China and exchange rate issues through meetings with Chinese economic officials.
It is highly likely that the reorganization of the supply chain of the US high-tech industry, which has recently put forward the banner of “de-risking”, will be covered. It is also expected to share opinions with Chinese officials on the direction of macroeconomic policies such as interest rates and exchange rates.
Attention is also focused on whether the conflict between the two countries over ‘semiconductors’ will be able to reach a turning point through this visit. Previously, China imposed sanctions on US semiconductor company Micron in May, and on the 3rd, it decided to control exports of gallium and germanium, rare metals used in semiconductors. This is interpreted as an intention to increase negotiation power ahead of Minister Yeren’s visit.
Attention is focusing on whether the competition and conflict between the US and China will be managed stably after Secretary Yellen’s visit, or whether it will escalate.
Copyright © Shina Ilbo Unauthorized reproduction and redistribution prohibited
#U.S #Treasury #Secretary #Yellen #China.. #turning #point #USChina #economic #conflict
2023-07-05 22:04:56
