US Secretary of the Treasury Janet L. Yellen will travel to Beijing from July 6-9 for meetings with senior Chinese officials.
Secretary Yellen’s travel follows President Joe Biden’s directive after his meeting with President Xi last November to deepen communication between the U.S. and China on a range of issues, including on the global macroeconomy and financial developments, US Department of Treasury said in a statement.
“While in Beijing, Secretary Yellen will discuss with PRC officials the importance for our countries – as the world’s two largest economies – to responsibly manage our relationship, communicate directly about areas of concern, and work together to address global challenges,” it said.
In an April speech, Secretary Yellen laid out three principles guiding America’s economic relationship with the PRC. “The United States proceeds with confidence in our long-term economic strength thanks to our historically strong recovery and the investments the Biden Administration is making in America’s productive capacity,” it added.
“First, we seek to secure our national security interests along with those of our allies and to protect human rights through targeted actions that are not intended to gain economic advantage,” it noted.
“Second, we seek a healthy economic relationship with China that fosters mutually beneficial growth and innovation and expands economic opportunity for American workers and businesses,” according to the statement.
“Finally, we also seek to cooperate on urgent global challenges like climate change and debt distress,” it said.
Source: Kuwait News Agency