US Treasury Secretary Janet Yellen has underlined the importance of clear and direct communication between the United States and China, saying there are significant differences between the two countries that must be addressed.
Yellen’s remarks came after 10 hours of bilateral meetings with senior Chinese officials at the conclusion of her four-day visit to Beijing. Despite acknowledging the differences, Yellen stressed that President Joe Biden and she herself do not see the relationship as a great power struggle, believing the two countries can thrive together in the world Are.
Addressing a news conference at the US Embassy in Beijing, Yellen told reporters, “The US and China have important differences.”
“But President (Joe) Biden and I do not view the relationship between the United States and China through the framework of great power struggle. We believe the world is big enough for both of our countries to thrive.”
During her visit, Yellen aimed to establish and strengthen ties with China’s new economic team, fostering understanding and cooperation on issues such as climate change and the debt crisis. He said that the United States is not seeking to disengage from China’s economy, as doing so would be harmful to both countries and destabilizing to the world. Instead, the US is advocating for an open, free and fair economy that does not force countries to choose sides.
Yellen also raised concerns about China’s unfair economic practices and recent coercive actions against American companies. Highlighting the importance of responsible management of U.S.-China relations, he underscored the need for healthy economic competition that benefits both sides. “Healthy economic competition is sustainable only when it benefits both parties,” he said.
Yellen also addressed the issue of Russian aggression in Ukraine, urging Chinese companies to support Russia in the conflict or avoid sanctions.
Although no breakthrough was expected during the talks, both sides appreciated the opportunity for face-to-face diplomacy. Yellen’s visit followed Secretary of State Antony Blinken’s visit to Beijing and is in line with the Biden administration’s efforts to engage with China on several fronts. With the possibility of a meeting between President Biden and Chinese President Xi Jinping in the near future, the US aims to establish a flexible and productive channel of communication with China’s new economic team.