US and China Establish New Economic and Financial Dialogue Framework

The U.S. and China have established two new working groups to discuss economic and financial issues, signaling a potential improvement in communication between the two countries. The dialogues come after years of economic conflict and breakdown in talks during the Trump administration. Led by Treasury Secretary Janet Yellen and China's Vice Premier He Lifeng, the working groups will engage in regular direct meetings to discuss economic and financial policy matters, as well as exchange information on macroeconomic and financial developments. These dialogues are part of broader efforts to reestablish communication channels between the two nations on various geopolitical, security, and economic matters. However, communication remains fragile, and Beijing has accused the U.S. of broadening trade and economic restrictions to contain China's economic growth.