In a meeting held in Beijing on Sunday, US Treasury Secretary Janet Yellen and Chinese Premier Li Qiang underscored the importance of maintaining open and direct communication, asserting that it has placed the two economic superpowers on “a more stable footing” over the past year.
Yellen emphasized the necessity of engaging in difficult conversations to responsibly manage the complex relationship between Washington and Beijing. “While we have more to do, I believe that, over the past year, we have put our bilateral relationship on more stable footing,” Yellen remarked.
She went on to say, “This has not meant ignoring our differences or avoiding tough conversations. It has meant understanding that we can only make progress if we directly and openly communicate with one another.”
Premier Li echoed Yellen’s sentiment, stressing the importance of mutual respect and partnership between the two countries. He said that the United States and China need to respect each other and should be partners, not adversaries, as he highlighted the “constructive progress” achieved during Yellen’s visit.
Yellen’s trip to China focused on addressing concerns over China’s excess factory capacity, particularly in the production of electric vehicles (EVs), solar panels, and other clean energy products.
This marks her second visit to China in nine months, following her previous efforts in July 2023 to normalize bilateral economic relations amidst heightened tensions.
The recent engagement between U.S. President Joe Biden and Chinese President Xi Jinping, in a nearly two-hour call, also signifies a step towards managing tensions, particularly regarding issues such as the South China Sea. This dialogue marks their first direct talks since a summit held in November.
Furthermore, U.S. and Chinese military officials recently convened for rare meetings in Hawaii, focusing on operational safety and professionalism, indicating a broader effort to deescalate tensions and foster constructive engagement between the two nations.
Ozioma Samuel-Ugwuezi
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