Treasury Secretary Janet Yellen ended her week-long trip to China on Tuesday, saying the US had been able to ‘move the ball’ on key issues, while analysts said the visit had focused on ‘practical short-term issues’.
US Treasury secretary says Beijing needs to make policy changes, while warning that Washington and its allies fear ‘global spillovers’ from China’s trade actions.
China’s overcapacity is all but certain to be the main point of contention in coming talks with Janet Yellen, as the US Treasury secretary has begun her trip with strong words on the subject.
Exclusion of economic powerhouses Japan and Britain shows China remains mindful of geopolitical considerations even as it seeks to boost post-Covid economy, observers say.
President Joe Biden is seen trying to avoid ‘undue escalation’ with China, while Donald Trump hails his friendship with President Xi Jinping despite threatening to raise tariffs on Chinese goods if re-elected.