U.S. Treasury Secretary Janet Yellen stated that future discussions between the U.S. and China will center around Beijing's need to change its policy on industry and the economy. The talks will continue later this month at the International Monetary Fund and World Bank Group spring meetings in Washington, D.C.
U.S. Treasury Secretary Janet Yellen said Monday that future discussions between the U.S. and China will focus on Beijing 's need to change its policy on industry and the economy.
U.S. Treasury Secretary Janet Yellen said Monday that future discussions between the U.S. and China will focus on Beijing's need to shift its policy on industry and the economy, as she wrapped up the fourth and final full day of her trip to China on April 8. 2024.BEIJING — U.S. Treasury Secretary Janet Yellen said Monday that future discussions between the U.S. and China will focus on Beijing's need to change its policy on industry and the economy.
In contrast to other countries' focus on the impact of Chinese overcapacity on global trade, Beijing's oversupply concerns tend to focus on the deflationary aspects, detriments to banking sector health and local governments' fiscal stress, said Yue Su, principal economist for China at The Economist Intelligence Unit.
Yellen acknowledged that efforts to reduce industrial overcapacity or increase domestic demand would not be resolved quickly.Consumer demand in China didn't rebound from the pandemic as quickly as many analysts had expected. In contrast to governments in the U.S. and Hong Kong, Beijing did not issue stimulus checks, but instead focused on cutting business taxes and fees.China has also sought to bolster its technological capabilities in the face of growing U.S.
During her trip, Yellen met with top Chinese officials including Premier Li Qiang in Beijing and Vice Premier He Lifeng in Guangzhou."This has not meant ignoring our differences or avoiding tough conversations," she said. "It has meant understanding that we can only make progress if we directly and openly communicate with one another."
The two countries also agreed to "start Joint Treasury-PBOC Cooperation and Exchange on Anti-Money Laundering to expand cooperation against illicit finance and financial crime," the readout said.
U.S. Treasury Secretary Janet Yellen Future Discussions U.S.-China Beijing Policy Change Industry Economy International Monetary Fund World Bank Group Spring Meetings Washington D.C.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Treasury Secretary Yellen to Visit China to Advance U.S. InterestsTreasury Secretary Janet Yellen is scheduled to visit China this week to advance the interests of U.S. workers, U.S. national security and attempt to cut down on climate change.
Baca lebih lajut »
What’s at stake as Treasury Secretary Janet Yellen visits ChinaIt's her second trip in less than a year amid ongoing tension between the world's two economic powerhouses.
Baca lebih lajut »
Here's who Treasury Secretary Janet Yellen is going to meet in ChinaU.S. Treasury Secretary Janet Yellen was scheduled to arrive in China on Thursday ahead of four full days of meetings with Chinese officials.
Baca lebih lajut »
US Treasury Secretary Yellen in China to Address Industrial SubsidiesUS Treasury Secretary Janet Yellen arrived in China's Guangzhou Thursday for meetings to press Beijing over fears the country's industrial subsidies for green energy, cars and batteries could flood global markets with cheap goods.
Baca lebih lajut »