U.S. Treasury Secretary Janet Yellen said 10 hours of meetings with senior Chinese officials in recent days were “direct” and “productive”, helping stabilize the superpowers’ often rocky relationship as her four-day Beijing trip ended. | Reuters
With U.S.-China relations at a low over national security issues, including Taiwan, U.S. export bans on advanced technologies and China’s state-led industrial policies, Washington has been trying to repair ties between the world’s two biggest economies.
Yellen said her visit aimed to establish and deepen ties with China’s new economic team, reduce the risk of misunderstanding and pave the way for cooperation in areas such as climate change and debt distress.“I do think we’ve made some progress and I think we can have a healthy economic relationship that benefits both of us and the world,” she said, adding that she expected increased and more regular communications at the staff level.
The U.S. has implemented export controls designed to restrict China’s ability to acquire high-tech microchips that Washington fears could have military applications, and is considering an executive order to curb U.S. investment in sensitive areas.
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