Treasury Secretary Janet Yellen expressed optimism about stabilizing relations between the world’s two largest economies.
Yellen’s recent visit to Beijing marks a possible shift in US-China relations.
In an interview with National Public Radio’s Marketplace program, the secretary acknowledged the difficulties between the two countries, but emphasized the parties’ shared desire to resolve problems constructively. “There are challenges, but I believe there is a willingness on both sides to stabilize the relationship and to find constructive solutions to the problems each of us faces,” Yellen said.
Yellen stressed the need for open and polite dialogue to maintain a constructive partnership in the future. He considered his visit a success, believing that misunderstandings had contributed to deepening differences between the US and China. “It was definitely a major goal of my trip. I think it was successful in that sense,” she said.
To overcome this division, Yellen stressed the importance of regular communication and meetings to openly discuss issues.
Yellen met with several high-ranking officials during her visit, including Premier Li Qiang, Vice Premier He Lifeng, Finance Minister Liu Kun and China’s central bank chief Pan Gongsheng. Despite the lack of specific achievements during the visit, both Washington and Beijing have agreed to continue exchanges, suggesting a commitment to continued engagement.
Yellen said trade tensions remain a major source of disagreement between the two countries. He told the media that any new trade restrictions would be implemented in a transparent and focused manner, focusing on areas of national security importance. Yellen sought to allay Chinese concerns about the broad-based economic consequences. “I want to allay their fears that we will do something that will have a huge impact on the Chinese economy,” she said.