Treasury Secretary Janet L. Yellen’s recent visit to China was seen as an opportunity to mend the strained relationship between the two countries. Despite significant disagreements, Yellen expressed optimism that both countries can thrive and announced plans for improved communication to avoid further mistrust. However, a meaningful resolution to economic tension may not be immediate. Yellen made it clear that the Biden administration still has concerns about China’s commercial practices and policies. During her visit, Yellen met with key Chinese leaders involved in economic policymaking and discussed areas of dispute, including tariffs and investment restrictions. While some experts view the increased dialogue as a positive development, they caution against expecting significant changes in the economic relationship. Despite the challenges, Yellen received a warm welcome in Beijing and emphasized the shared interests between the US and China.
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