Treasury Secretary Janet Yellen to journey to China for high-level talks

Treasury Secretary Janet Yellen will journey to China this week to “deepen communication” with Beijing on the worldwide financial system and monetary developments, in line with her division.

The Treasury Department stated the journey will happen Thursday-Sunday and contain conferences with senior officers within the communist Chinese authorities.

“While in Beijing, Secretary Yellen will discuss with [Chinese] officials the importance for our countries — as the world’s two largest economies — to responsibly manage our relationship, communicate directly about areas of concern, and work together to address global challenges,” the division stated.

Ms. Yellen is heading to China on the heels of an analogous go to by Secretary of State Antony Blinken. The officers try to keep up wholesome competitors and a steady relationship with Beijing on behalf of President Biden. 

A serious superpower and financial system, China is appearing aggressively within the Indo-Pacific and cracking down on ethnic minorities. It additionally is usually accused of swiping mental property from different international locations.

Capitol Hill lawmakers are adopting an aggressive tone towards China, notably after an alleged Chinese spy balloon floated throughout the continental U.S.

Also, there may be lingering fallout from the coronavirus, which was found in Wuhan, China, and upended the world.

The Treasury Department stated Ms. Yellen will perform a directive from Mr. Biden, who met with Chinese President Xi Jinping in November, to keep up a dialog with China about crucial financial points.

Ms. Yellen lately laid out a three-pillar strategy to coping with China that begins with wielding focused actions towards China to guard human rights and the nationwide safety pursuits of the U.S. and its allies — although not for financial benefit.