US Treasury Secretary Janet Yellen To Visit China To Manage Relationships
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The US Treasury Secretary, Janet Yellen, is set to hold discussions with China about the need for the two countries to manage their relationship and work jointly to address global challenges. Yellen is set to tour China between July 6 and 9.
Janet Yellen to visit China amid need to manage ties
Yellen’s trip to China comes weeks after the US Secretary of State, Anthony Blinken, met with the Chinese President, Xi Jinping, and the Foreign Minister, Qin Gang in June. Blinken is the highest-ranking US official to visit Beijing in around five years.
Yellen’s trip to Beijing will revolve around discussions on how the US views its economic relationship with China. She will hold meetings with senior Chinese officials and top US firms. The official noted that the US did not want to secure an economic advantage over China.
Washington has also said that it was anticipating healthy ties with China and it did not want to decouple the two economies. The US was also in pursuit of a partnership deal that will address such as climate change and debt distress.
The US does not anticipate that there will be a major breakthrough from the initial trip. However, he noted that the effort was aimed at creating long-term communication channels with China.
The visit might not immediately ease tensions
Despite these efforts, there will not be a steadfast resolution to the tensions between the two countries. The Biden administration is considering the launch of a program that will inhibit some US outbound investments related to sensitive technology, which is a matter that has affected officials across China.
Another possible issue of discussion is China’s anti-espionage law that has expanded the definition of spying and banned the transfer of information related to national security. The law has triggered concerns among domestic and foreign businesses in China.
US officials might also express their concerns about the allegations of human rights abuses against the Uyghur Muslim minority. The recent move announced by China for the ban of sales of Micron Technology memory chips could also be under discussion. There are also concerns about the possible moves made by China against consulting firms and foreign due diligence.
The US Treasury Secretary might be planning to inform the new economic team in China of plans by Washington to defend human rights and its national security interests by taking certain targeted actions against China. However, the two countries might address the need to work together to address urgent issues like climate change and debt distress facing many countries.
These discussions come at a time when tensions between the two countries are high. President Biden has previously referred to the Chinese President as a dictator, in a move that has irked many officials in Beijing.
The tension between the US and China have risen further this year after the US shot down a Chinese balloon claiming that it was being used for surveillance. China denied these claims vehemently. The trips by Blinken and Yellen might help ease the tensions and promote better relationships.
