US Treasury Secretary Yellen in China: We seek healthy competition

Continuing her visit to China, US Treasury Secretary Yellen met with Chinese Premier Li Chiang.

According to a US Treasury Department statement, Yellen and Li’s meeting was “frank and constructive.”

At the meeting, Yellen raised issues of concern and discussed the US desire for healthy economic competition with China that benefits both economies.

Yellen highlighted the importance of the world’s two largest economies communicating closely on global macroeconomic and financial issues, working together on global challenges, including debt reduction and climate finance in low-income and emerging economies.

“WE SEEK HEALTHY ECONOMIC COMPETITION”

Yellen, in her speech at the meeting, said: “It’s not a winner take all, we are looking for healthy economic competition that can benefit both countries over time with fair rules.” he used the phrase.

Noting that there are also significant global challenges where the US and China are compelled to cooperate and show leadership both towards their own countries and the world, Yellen said: “The US. The US will need to take specific steps to protect its national security in certain situations. . In these cases, we can disagree. But we must not allow any disagreements to lead to misunderstandings that unnecessarily worsen our bilateral economic and financial relations.” she performed her assessment.

On the other hand, in the framework of her visit to China, Yellen held a round table with more than 10 American companies that operate in the country.

Stressing the importance of trade and investment with China in supporting American workers and businesses, Yellen expressed her concerns, including barriers to market access, China’s use of non-trade instruments, and punitive measures against American companies in recent years. months. (AA)