SAN FRANCISCO (Reuters) -U.S. Treasury Secretary Janet Yellen and Chinese Vice Premier He Lifeng agreed to "intensify communication" and work together on a range of economic, financial stability and regulatory issues, Treasury said on Friday. The two "had candid, direct, and productive discussions on the U.S.-China bilateral economic relationship and a wide range of issues, including areas of cooperation and areas of disagreement," Treasury said in a statement. The two met Nov. 9-10 in San Francisco ahead of the summit of Asia-Pacific Economic Cooperation (APEC) country leaders.
U.S. Treasury Secretary Janet Yellen on Thursday told Chinese Vice Premier He Lifeng she wants to have an "open and substantive" discussion on the U.S.-China economic relationship, Beijing's subsidy practices and global challenges such as climate change and debt relief. In prepared remarks at the start of two days of bilateral meetings in San Francisco ahead of a summit of Asia-Pacific Economic Cooperation (APEC) country leaders, Yellen said she has worked in recent months to establish an economic dialogue with her Chinese counterparts. "I hope to build on this strong foundation with an open and substantive discussion over the next two days," Yellen said.
(Bloomberg) Europe is not spoiling for a trade war with China over electric—vehicle subsidies and is instead focusing on a “rebalancing” to avoid excessive reliance on one country, according to the head of the body that represents European Union heads of state and government.Most Read from BloombergChina Puts Evergrande’s Billionaire Founder Under Police ControlElon Musk Wins US Space Force Contract for StarshieldPeloton Soars After Deal With Lululemon to Share Fitness ContentCitadel Is Ready
The European Union's trade commissioner called for a more balanced economic relationship with China on Monday, noting a trade imbalance of nearly 400 billion euros ($425 billion), while also warning that China's position on the war in Ukraine could endanger its relationship with Europe. Valdis Dombrovskis, in a speech at China's prestigious Tsinghua University, said that the EU and China face significant political and economic headwinds that could cause them to drift apart.
The United States wants to work with China to ensure a more "predictable" environment for American businesses in Shanghai, Commerce Secretary Gina Raimondo told officials in the economic hub on Wednesday.Raimondo told Chen she was looking forward to talks to "bring about a more predictable business environment, predictable regulatory environment, and a level playing field for American businesses here in Shanghai".