US Treasury Secretary Janet Yellen arrived in the Chinese capital, Beijing, on a visit aimed at strengthening communication between the two countries and calming relations, in light of the increasing tension between them.
The visit continues until Sunday for a period of 4 days, which is Leylin’s first to China since her appointment to her position, and it also comes a few weeks after a visit by US Secretary of State Anthony Blinken.
Yellen had previously expressed her intention to visit China, but the project was surrounded by doubts with the return of tension between the two countries at the beginning of the year, after the United States spotted a Chinese balloon over its territory and shot it down, accusing Beijing of using it for the purpose of espionage, which China denied.
According to the US Treasury Department, Yellen will seek during her visit to enhance communication between the two countries, avoid mutual misunderstanding and expand cooperation on issues related to the global economy, warming and the debt crisis in emerging and developing countries.
These meetings are often an occasion to discuss growth prospects between partner and adversary countries. Emphasizing the challenges facing Yellen during her visit, the Wall Street Journal reported that US President Joe Biden’s administration is considering limiting Chinese companies’ access to cloud services provided by US companies such as Amazon and Microsoft.
China has responded to the US restrictions by cutting caps on exports of two rare earths needed to make semiconductors, suggesting that improving bilateral ties may take time.
Details of the scheduled meetings were not clarified, but analysts expect Yellen to hold talks with the new Deputy Prime Minister Hei Leifeng, who was appointed in March, according to the French Press Agency.
Despite these efforts, contentious issues between the two countries remain on economic issues, and they have intensified with the possibility of the US President imposing restrictions on US investments in China with regard to sensitive technologies, which threatens to deal a blow to investments in China.
Washington expresses concerns about “coercive acts and anti-competitive economic practices” by China and intends to take steps to rectify them, according to a US Treasury official.
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2023-07-06 13:44:51
