Janet Yellen, the United States Treasury Secretary, embarked on a trip to China and began her day with a meeting with American, European, and Japanese business representatives in Guangzhou. During her five-day trip to China, Yellen listened to the concerns of these representatives, which were seen as a prelude to what are expected to be challenging discussions on trade and other issues with senior Chinese government officials.
Yellen has indicated that she will raise concerns about what the U.S. views as unfair trade practices by China, an issue that has also been raised by many European countries. Trade professor Eswar Prasad from Cornell University believes that Yellen will advocate for fair competition in new technology sectors such as green energy and electric vehicles, as well as push for market access for U.S. companies in these areas.
China has disputed these concerns, stating that the growth in Chinese electric vehicle and solar exports contributes to global green development and is based on market demand. However, some experts worry about China’s exporting overcapacity and aggressively entering these sectors. Wang Wenbin, the Chinese Foreign Ministry spokesperson, accused the U.S. of interfering with free trade by imposing restrictions on technology exports to China. He criticized the U.S.’s attempts to limit Chinese trade and technology and suggested that these actions create risks rather than reducing them.
As Yellen continues her discussions with Chinese officials, it is clear that issues such as trade practices and market access will remain key focuses of their talks.
In conclusion, Janet Yellen’s visit to China was marked by a morning meeting with American
