Treasury Secretary Janet Yellen Returns from Beijing Meeting with a Message of Cooperation and Mutual Benefit

Treasury Secretary Janet Yellen has recently returned from a two-day meeting in Beijing with Chinese officials, during which both sides expressed a sentiment that the world is big enough for both countries to thrive.

Yellen said the meetings were “direct, substantive and productive” and a step forward in helping to set relations between the two countries on a “surer footing.” She is the second member of U.S. President Joe Biden’s Cabinet to visit Beijing in recent weeks.

Yellen noted that the U.S. and China have significant disagreements, but President Biden and she do not see the relationship between the two countries as a zero-sum game. She said that the two countries must communicate their disagreements clearly and directly, and work together to address shared global challenges.

Yellen also said that the Biden administration is considering curbs on U.S. investment in China amid an escalating global battle for technological supremacy. She said that the U.S. must ensure that its investments are not used to undermine U.S. interests or security.

When asked how to avoid a clash between the two countries, Yellen said that the U.S. and China must work together to find common ground and build trust. She said that the two countries must continue to engage in dialogue and work together to find solutions that benefit both countries.