U.S.Treasury Secretary Yellen

U.S.Treasury Secretary Yellen has been actively seeking a visit to China since February this year. Has “released” the planned itinerary many times, and finally got date that she wanted.

According to the official website of the Ministry of Finance, as agreed by China and the United States. U.S. Treasury Secretary Yellen will visit China from July 6 to 9. This will be the second senior Biden administration official to visit China this year. Since the tension between China and the United States has intensified. And it will also be Yellen’s first visit to China as Treasury Secretary.

The governor of Chang’an Avenue noticed that within two weeks, two heavyweight American officials visited China on their own initiative, which shows the urgency of the United States to resume dialogue with China.

At present, the record-breaking inflation level in the United States has made people worry about the economic outlook. At the same time, the aggressive interest rate hike policy in the United States failed to effectively control inflation, which triggered the outbreak of the banking crisis and further weakened the stability of the economy. In the face of internal and external difficulties, cooperation with China has become particularly critical.

What is Yellen’s plan for this trip?

In general, it is to stabilise the relationship between the world’s two largest economies.

A U.S. official who did not want to be named said that the purpose of her visit is to deepen and increase the frequency of communication between the U.S. and China, stabilise relations, avoid poor communication, and expand cooperation as much as possible.

U.S.Treasury Secretary Yellen said in an interview with MSNBC last week that Sino-U.S. relations are important to the entire world and that “healthy competition” can benefit workers and businesses in both countries. “The U.S. and China need to discuss their differences. That way, you don’t misunderstand each other’s intentions.”

According to comprehensive US media reports, Yellen has three things to do in these four days:

First, hold high-level economic talks with Chinese counterparts to discuss global challenges and issues of common concern.

Topics may include areas of common interest between China and the United States, such as macroeconomic issues such as tariffs, exchange rates, and debts; they may also involve areas of disagreement between the two sides. “problem”, let China “take the blame” for multilateral financial institutions and commercial creditors, especially the United States, which raised interest rates wildly last year.

And take more measures to provide debt relief for developing countries, as well as China’s position in the Russia-Ukraine conflict and China’s Russian relations, which have been questioned.

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By Admin