Yellen says the US and China want to “stabilize” their relationship

US Treasury Secretary Janet Yellen said she believes the US and China want to stabilize their economic ties with “frankness” and “I respect”.

Yellen told Marketplace in a recorded interview shortly before her departure from Beijing on Sunday that she believed her trip, during which the two sides discussed “significant disagreements”, had managed to lay the foundations of the relationship.

“There are challenges, but I think there is a desire on both sides to stabilize the relationship and constructively address the issues that each of us sees in our relationship, to do it candidly, honestly, with respect, and build a productive relationship going forward.“, said.

Yellen He said the visit was fruitful and had allowed him to make clear that export controls and other measures were motivated by national security concerns and to diversify supply chains, not to gain unfair economic advantage.

“I spent many hours with my peer going through our concerns in detail and addressing them and making it clear that they have an open channel of communication“, said Yellen.

Both parties, he noted, agreed “keep the channels of communication open and deepen our discussion of the concerns we each have”.

With US-China relations at a minimum over national security issues, including Taiwan, Washington has been trying to repair ties between the world’s two largest economies.

the journey of Yellen It followed that of Secretary of State Antony Blinken last month, the first by the top US diplomat in the presidency of Democrat Joe Biden. Climate envoy John Kerry is expected to visit China this month.

“This is one of the most important bilateral and economic and financial relations that we have“, said Yellen.

Source: Reuters