U.S. and Chinese officials have completed their third meeting to cooperate on financial issues, indicating a trend to ease tensions between the two powers.
The U.S. and Chinese officials have had their third meeting of a working group aimed at cooperating on financial matters, marking another step in the direction of tension relief started by the two powers last November. Members of the U.S. Treasury Department met with their counterparts in the People’s Bank of China to discuss a range of issues, including financial stability and countering money laundering. The delegation also had the opportunity to meet with Vice Premier He Lifeng while in China. The group also mentioned that Treasury Secretary Janet Yellen would visit China in the future, having previously been there in July.
In November, Yellen met with He in San Francisco, ahead of the later meeting between U.S. President Joe Biden and China’s President Xi Jinping. The two countries and agreed to resume cooperation on issues such as curbing the spread of fentanyl and improving military communication. However, while the meeting prevented the relationship from deteriorating further, it did not resolve any of the significant differences between the two countries. Longstanding economic issues between China and the U.S. have existed since former U.S. President Donald Trump initiated a trade war by imposing high tariffs on a number of Chinese goods.
Source : US, China Officials Conclude Meeting on Financial Issues
