US Treasury Secretary Yellen Plans Visit to China
Amidst heavy tensions between China and the United States, US Treasury Secretary Janet Yellen is expected to visit Beijing this week. According to her ministry, Yellen will travel to China from Thursday to Sunday. Her visit follows the trip of US Secretary of State Antony Blinken to Beijing in May and aims to strengthen communication channels between the two sides.
According to the website of the US Treasury Department, the discussions will focus on macroeconomic and financial developments in the world. In Beijing, Yellen wants to discuss the importance for the two largest economies to "handle their relationship responsibly, communicate directly about areas of concern, and cooperate in addressing global challenges."
There is much to discuss
The US Treasury Secretary has repeatedly expressed cautiousness towards China and emphasized the need to restore contacts and engage with the new government installed by the party leadership in China in March, especially due to the numerous differences between the two countries.
Will tensions between China and the US continue to escalate?
The relations are at a low point. The tough approach of US President Joe Biden towards China, the ongoing trade war, China's support for Russian President Vladimir Putin and his aggression against Ukraine, China's territorial claims in the South and East China Seas, as well as Beijing's threats towards the democratic island of Taiwan, have strained their relations.
Recently, the US President caused further irritation when he compared Chinese President Xi Jinping to a dictator, which Beijing vehemently rejected.