After in-depth discussions between China and the United States, U.S. Treasury Secretary Janet Yellen is about to set foot on Chinese soil, and this is her second visit to China since serving as a cabinet official in the Biden administration. It is the role of the finance minister that makes the visit even more far-reaching. Before Yellen's arrival, the Chinese side put forward three important expectations, and it is gratifying that the US side has responded positively. However, with Yellen's arrival, there has been some change in her attitude, which has sparked a lot of speculation and concern.
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1. Promote China-US economic cooperation
Before receiving Yellen's visit to China, the Chinese side clearly expressed its expectation to promote economic cooperation between China and the United States. Both sides are well aware that in today's context of globalization, the two major economies of China and the United States should work together to address the many challenges facing the world. Through this visit, China hopes to further expand bilateral economic and trade relations, strengthen cooperation in the fields of industry, finance, and environmental protection, and promote the signing of a package agreement between the two countries to resolve the existing trade disputes. The United States responded positively to this expectation and said that it would work to promote economic cooperation between the two countries and jointly promote the stable development of the global economy.
2. Strengthen China-US policy dialogue
During the exchanges, the two sides reached a consensus that active policy dialogue is an important way to solve the problem. The Chinese side hopes to further deepen its understanding of US economic policies and jointly explore effective measures to address global challenges through consultations with Yellen. In particular, in the areas of economic policy adjustment, bilateral investment, and financial supervision, it is hoped that communication can be strengthened and consensus can be built. The U.S. side welcomed this and expressed its willingness to engage in in-depth policy dialogue with China and jointly seek new opportunities for cooperation.
3. Promote the development of green economy
Before Yellen's arrival, China made it clear that it hopes the United States can strengthen cooperation in the field of green economy and jointly address global challenges such as climate change and environmental protection. In particular, China and the United States have extensive space and potential for cooperation in clean energy and sustainable development. The U.S. side has responded positively to this expectation and expressed its willingness to work with China to explore new paths for sustainable development and promote cooperation in green technology and innovation.
Surprisingly, however, there seems to have been some change in her attitude after Yellen's arrival. While the two sides discussed these expectations in depth during the meeting, Yellen appeared conservative in expressing her position, failing to give clear commitments and further concrete cooperation options. This has sparked speculation and concern that Yellen's visit may be a formality and lacks substantive results.
In short, the three expectations put forward by the Chinese side before Yellen's visit to China were positively responded to by the US side, but Yellen's attitude became conservative, which made the outcome of the visit full of uncertainty. In any case, China and the United States hope to deepen mutual understanding and trust through this visit, and inject new impetus into the stable development of bilateral relations.
The above is the relevant content and analysis of the three expectations put forward by the Chinese side before Yellen's visit to China. Stay tuned to our headlines for the latest updates on U.S.-China relations and economic cooperation developments.