Yellen Charm Offensive Aims to Boost China Ties and Curb Exports

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US Treasury Secretary Janet Yellen is on a trip to China to strengthen bilateral ties and criticize Beijing's economic policies. Yellen met with Premier Li Qiang and will hold talks with former Vice Premier Liu He and central bank Governor Pan Gongsheng. Yellen criticized China for flooding the world with cheap goods and argued that China is too large to export its way to rapid growth. Beijing rejects this message and has filed a case with the World Trade Organization over American subsidies. Yellen has built personal ties with senior Chinese leaders but has also issued sharp warnings and criticisms. She gave specific details of how she thinks certain US industries are coming under threat during meetings with Chinese Vice Premier He Lifeng. Yellen's tough message hasn't hurt progress made between the two sides, and they agreed to move forward with talks focused on balanced growth in the domestic and global economies. Yellen's visit has received a warm reception, but it remains to be seen if this is a true product of better relations or tactical stabilization. China is keen to avoid re-escalating public tensions and may be biding its time with the upcoming US presidential elections.

#JanetYellen #China #UschinaRelations #EconomicPolicies #Exports #BilateralTies

https://finance.yahoo.com/news/yellen-advances-us-china-ties-120000722.html