Janet Yellen and He Lifeng’s Economic Talks in China
Productive Talks on Economic Growth and Anti-Money Laundering
U.S. Treasury Secretary Janet Yellen and Chinese Vice Premier He Lifeng agreed to launch exchanges on balanced economic growth, aiming to address U.S. concerns about China’s excess manufacturing capacity. They also agreed to start a forum to cooperate on anti-money laundering efforts.
Advocating for a Level Playing Field for American Workers
Yellen expressed her intention to advocate for a level playing field for American workers and firms during the discussions. She highlighted the importance of addressing macroeconomic imbalances, overcapacity issues, and fostering fair competition.
Challenges and Discussions on Excess Production Capacity
Yellen’s top priority during the talks was to address China’s excess production capacity for electric vehicles, solar panels, and clean energy technology. The discussions were described as productive and frank, focusing on finding solutions to the challenges posed by China’s industrial strategy.
Mutual Concerns and Constructive Dialogue
The economic talks between Yellen and He covered a range of topics, with a particular emphasis on U.S. concerns about China’s growing exports. Both parties agreed to further discuss balanced growth and financial stability, emphasizing the importance of constructive dialogue.
Addressing Economic Risks and Building Stronger Ties
Yellen’s visit aimed to address economic risks and strengthen U.S.-China ties to withstand challenges. The discussions highlighted the need for cooperation and mutual understanding to navigate complex economic issues.
Looking Ahead to Future Collaborations
The talks between Yellen and Chinese officials set the stage for future collaborations and discussions on key economic issues. Both parties expressed their commitment to addressing challenges and building a more stable economic relationship.
