During a meeting between Treasury Secretary Janet Yellen and Chinese Vice Premier Li Keqiang, both leaders emphasized the importance of responsible management of their relationship as the two largest economies in the world. Yellen stated that cooperation and leadership were crucial for addressing global challenges, while Li echoed her sentiments, emphasizing the need for mutual respect and partnership.
The meeting followed discussions between Yellen and Chinese Vice Premier He Lifeng in Guangzhou, where they focused on economic challenges like overcapacity. Both sides agreed to intensify their exchanges in order to address these challenges. Yellen expressed concerns about Chinese exports potentially harming American interests and causing global spillovers, while Beijing raised issues regarding US trade restrictions against China.
Despite ongoing areas of disagreement, both leaders acknowledged progress that had been made in stabilizing the bilateral relationship over the past year. They emphasized the importance of open and direct communication in order to make progress. Overall, the meetings highlighted the need for cooperation and communication between the US and China to address global economic challenges and build a more stable relationship. Both sides expressed a willingness to work together and make progress on important issues.
