Yellen Highlights Progress and Challenges in US-China Relationship

U.S. Treasury Secretary Janet Yellen described her recent meetings with Chinese officials as productive, despite significant disagreements between the two countries. Yellen emphasized that the U.S. and China do not view their relationship as a great power conflict and believe that both countries can thrive. The goal of her visit was to stabilize the relationship, strengthen ties with China's new economic team, and foster cooperation on climate change and debt distress. Yellen assured Chinese officials that any measures addressing outbound investment would be narrow and transparent. She also called for more economic and climate cooperation while criticizing punitive actions against U.S. companies in China. Yellen's visit comes as the U.S. seeks to rekindle its relationship with China, with a possible meeting between President Biden and Chinese President Xi in the near future.