US Secretary of the Treasury
Yellen is hoping for closer contact with Beijing after the trip
US Treasury Secretary Janet Yellen speaks during a news conference. photo
© Mark Schiefelbein/AP/dpa
Relations between the US and China are currently at an all-time low. A visit by the US Secretary of the Treasury was not least aimed at bringing the world powers closer together.
US Treasury Secretary Janet Yellen has “significant disagreements” between China and the US complained. At the same time, she was optimistic on Sunday that her four-day trip to Beijing could help improve relations between the two world powers. “I believe that my bilateral meetings (…) were a step forward in our efforts to put US-China relations on a more secure footing,” she said at a press conference concluding her trip in the Chinese capital . In an interview with the US broadcaster CBS, she added that the visit helped to enable frequent and intensive contact between the two governments again in the future.
In total, the 76-year-old had spent more than ten hours in bilateral talks with Chinese government officials, including Premier Li Qiang, in the past few days. According to media reports, her meeting with Finance Minister He Lifeng on Saturday alone lasted more than five hours, followed by a two-hour dinner.
As was to be expected, Yellen’s visit failed to produce any substantial breakthroughs. However, the rhetoric and symbolism during the trip was comparatively positive and heartfelt.
China: Concerned about US sanctions
In a first broadcast by the state news agency Xinhua, the Chinese side described the talks between Yellen and her counterpart He Lifeng as constructive, intensive and open. At the same time, the Chinese side also expressed its “concern about the sanctions imposed by the United States on China.”
Relations between the two world powers are currently at an all-time low. The relationship is not only strained by China’s backing for Russian President Vladimir Putin and his war of aggression against Ukraine. By her own account, Yellen pointed out in her talks that Chinese companies must absolutely avoid providing Russia with material support or helping to circumvent sanctions. Other issues causing tension are US President Joe Biden’s tough course on China, the ongoing trade war, China’s territorial claims in the South and East China Seas and threats from Beijing towards the island democratic republic of Taiwan.