Yellen and Li discuss stable US-China relations, need for mutual respect, and managing differences. Yellen addresses China’s excess factory capacity, while pushing for balanced growth dialogue and cooperation on global challenges.
U.S. Treasury Secretary Janet Yellen and Chinese Premier Li Qiang discussed the importance of having difficult conversations in order to stabilize the relationship between the two economic superpowers. Yellen emphasized the need for mutual respect and partnership, acknowledging the progress made during her visit to Beijing. Both sides recognized the responsibility of managing their complex relationship and the significance of direct and open communication.
Yellen specifically addressed China’s excess production in areas such as electric vehicles and clean energy products, advocating for a level playing field to protect American workers and businesses. The discussion in Guangzhou focused on “balanced growth,” with a dialogue initiated to address the challenges of China’s growing battery manufacturing capacity outpacing demand. Despite tensions over excess capacity, China continues to invest in technology sectors where U.S. firms hold advantages.
While Chinese state media has criticized Yellen’s concerns over excess capacity as a pretext for protectionist policies, both countries expressed a desire for mutually beneficial cooperation. Yellen’s visit highlighted the need for constructive dialogue and collaboration to address global challenges, emphasizing the importance of managing the relationship between the world’s two largest economies responsibly. The discussions between U.S. and Chinese officials reflected a commitment to stability and professionalism in their interactions.
Source : US, China need ‘tough’ conversations, Yellen tells Chinese Premier Li
