Janet Yellen: US Treasury Secretary Janet Yellen will travel to Beijing between July 6 and 9 to stabilize the relationship between the two countries.
Her visit comes just weeks after Secretary of State Anthony Blinken met Chinese President Xi Jinping and other top officials in Beijing. Lately, ties between the two countries have deteriorated because of various reasons.
Yellen’s China visit is aimed “to deepen communications between the world’s two largest economies, stabilize the relationship and minimize the risks of mistakes when disagreements arise, the official told reporters.”
During Blinken’s visit, both countries agreed to ensure that their rivalry does not veer into conflict, says NDTV.
Last week, China protested loudly when President Biden called Xi a dictator, but many analysts think that remark won’t hurt China-US ties.
“Healthy economic relationship”
During her visit, the Treasury Secretary is likely to take up human rights violations in China. However, Secretary Yellen will also focus on climate change and debt distress faced by many countries.
An official associated with Yellen’s visit told Reuters, “We seek a healthy economic relationship with China, one that fosters growth and innovation in both countries.”
“We do not seek to decouple our economies. A full cessation of trade and investment would be destabilizing for both our countries and the global economy,” the official added.
Chinese espionage law
One area of concern during Yellen’s visit would be the new Chinese espionage law that potentially targets US companies based in China.
“We have concerns with the new measure, and how it might apply, that it could expand the scope of what is considered by the authorities in China to be espionage activity,” the unnamed official emphasized while underscoring the effect of the new law on US investments in China.
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