Yellen reaffirmed that the US and China need to “further stabilize the relationship and make progress on key issues,” especially considering that the two nations collectively “rep…
Larry Summers joins outcry over Fitch downgradeTreasury Secretary Janet Yellen said there’s a way for the US to both compete and work with China as she prepares to meet with the Communist country’s economic czar in San Francisco this week.
The Biden administration’s top economic official insisted she also plans to “speak to my counterpart about our serious concerns with Beijing’s unfair economic practices, including its large-scale use of non-market tools, its barriers to market access and its coercive actions against US firms in China.”
But the official said a key aim for Yellen was gaining a better understanding of how the new US-China economic communication line will work, and how to make sure that “it is not vulnerable to shocks,” adding that there will be more frequent interactions.The San Francisco meetings, set for Thursday and Friday, will take before the Biden administration hosts ministers and leaders of APEC countries from Nov. 11 to Nov.
“Bowing is not part of the accepted protocol,” agreed Jerome A. Cohen, an emeritus professor at NYU and expert in Chinese law and government., calling him “Vice Premier Hu” as she opened the first official American meeting with the economic chief, a Xi loyalist who was named to the post in March.
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Yellen to hold two days of talks with China vice premierSteven Goldstein is based in London and responsible for MarketWatch's coverage of financial markets in Europe, with a particular focus on global macro and commodities. Previously, he was Washington bureau chief, directing MarketWatch's economic, political and regulatory coverage. Follow Steve on Twitter: MKTWgoldstein.
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