USA and China They committed to forging a “healthy economic relationship” and collaborate on shared challenges, such as economic growth, global financial stability and the climate crisis. The agreement was reached by the Secretary of the Treasury of the United States, Janet Yellenand the Chinese vice premier, He Lifengafter two days of meetings in San Francisco, California, according to the US Government.
The meeting between both officials took place shortly before the scheduled meeting between the president of the United States, Joe Biden, and his Chinese counterpart, Xi Jinping, in the same city and in parallel to the Asia-Pacific Economic Cooperation Forum (APEC).
In a statement, the Treasury Department detailed that Yellen and He led respective delegations that met on November 9 and 10 in San Francisco. During these conversations, they agreed to “step up communication” to address common challenges, resolve disagreements, and prevent misunderstandings.
Both nations committed to avoiding the “decoupling” of their economies and agreed on the goal of building a “healthy economic relationship that provides equal opportunities for companies and workers in both countries, benefiting both populations.” They also agreed to work together on challenges such as economic growth, global financial stability, regulatory issues, the climate crisis and the debt problem in emerging and low-income economies.
In relation to this last point, the United States and China will seek to increase the representation of those countries and regions that are insufficiently represented in the International Monetary Fund (IMF) and in multilateral development banks.
The Treasury Department also announced that Secretary Yellen plans to visit China next year. As recalled, last Friday, the United States and China also announced the meeting that will take place next week in San Francisco between Biden and Xi, marking a thaw in relations between both powers after a year in which bilaterality was at a low point due to the trade war and the Taiwan question. This meeting between Xi and Biden will be the first in a year, recalling their last meeting in Bali, Indonesia, during the annual G20 summit.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
