U.S. Treasury Secretary Janet Yellen has concluded a six-day visit to China, marking her second trip since July 2023. The visit comes amid escalating economic, technological, and trade competition between the two superpowers, signaling a proactive effort to stabilize ties.
During her time in China, Yellen traveled to Guangzhou and Beijing, engaging in talks with key Chinese officials, including Premier Li Qiang, Vice Premier He Lifeng, and Minister of Finance Lan Fo’an. The discussions centered on the macroeconomic landscapes of both nations and the global economy, reflecting a commitment to pragmatic and constructive dialogue.
'Positive role' in stabilizing China-U.S. ties
"Yellen's visit to China has played a threefold positive role in stabilizing China-U.S. relations," said Yan Zhanyu, a scholar on international relations at China's University of International Business and Economics. He highlighted that the visit reinforced the strategic communication established during Yellen's previous trip, facilitating bilateral discussions on economic and financial policies.
Two significant initiatives emerged from the visit: the Exchange on Balanced Growth in the Domestic and Global Economies, and the Joint Treasury-People's Bank of China Cooperation and Exchange on Anti-Money Laundering. "These new initiatives will advance collaborative efforts on common interests and address differences pragmatically," commented Gao Zhijun, an assistant research fellow at the Chinese Academy of Social Sciences.
The technical nature of these exchanges is expected to minimize political and ideological barriers, allowing both sides to focus on practical issues. Additionally, Yellen's visit is seen as injecting new energy into future US-China relations by fostering positive people-to-people interactions, according to Yan.
Adding a human touch to the diplomatic mission, Yellen's orders at local restaurants in Guangzhou and Beijing became a viral sensation on Chinese social media platforms, reflecting a warm reception from the public.
Reference(s):
cgtn.com
