Janet Yellen to Make Second Trip to China Next Month – Treasury Secretary Janet Yellen is scheduled to visit China in April for discussions with senior Chinese officials, according to two sources familiar with the trip arrangements. Yellen’s upcoming visit serves as a continuation of her previous meetings in Beijing last July.
It led to the establishment of new Economic and Financial Working Groups aimed at facilitating open and meaningful dialogues on challenging matters. Yellen’s travel plans underscore the administration’s dedication to maintaining a delicate equilibrium in bilateral relations, which have been strained over the past year due to various issues such as the Chinese spy balloon incident, escalating tensions in the Taiwan Strait, and Beijing’s assertive actions in the South China Sea.
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Over the past nine months, the administration has endeavored to mitigate these tensions through a series of visits by senior officials, including Secretary of State Antony Blinken in June and Commerce Secretary Gina Raimondo in August. These high-level, face-to-face engagements aim to stabilize relations amidst the backdrop of a U.S. presidential election campaign, where discussions of the China threat will feature prominently in foreign policy rhetoric.
A Treasury spokesperson opted not to provide a comment, while the Chinese embassy in Washington did not respond immediately to a request for comment. The officials, speaking off the record, refrained from divulging specifics regarding Yellen’s travel plans and meeting agenda. However, in recent months, both Yellen and other senior Treasury officials have hinted at their China-related priorities through speeches and interviews.
Yellen emphasized the importance of face-to-face discussions with senior Chinese officials in managing bilateral relations responsibly during a speech in December. Among her stated priorities for 2024 are increased transparency regarding Beijing’s foreign exchange practices, collaborative planning for potential global banking crises, and cooperation on anti-money laundering efforts.
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Additionally, Treasury’s Under Secretary of International Affairs, Jay Shambaugh, expressed concerns last month about Beijing’s efforts to revitalize its economy potentially leading to an influx of low-priced exports that could destabilize global markets. With concerns ranging from foreign exchange practices to global market stability, this diplomatic endeavor reflects a commitment to fostering transparency, cooperation, and responsible management in the evolving landscape of U.S.-China relations.
