During her visit to Beijing aimed at stabilizing tense relations, Treasury Secretary Janet Yellen conveyed to Chinese Premier Li Qiang on Friday that the United States is not interested in pursuing a “winner-take-all” approach in their competition.
Treasury Secretary Janet Yellen told Chinese Premier Li Qiang on Friday that the United States is not seeking “winner-take-all” competition, in a visit to Beijing aimed at stabilizing fraught ties.
Yellen’s four-day trip is her first as Treasury chief to China, with which the United States is butting heads over trade curbs, human rights and a litany of other disputes.
But Washington is working to dial down the temperature, and on Friday Yellen underscored to Li that the United States does not seek an economic showdown.
The United States has said it is seeking to “de-risk” from China by limiting the world’s second-largest economy’s access to advanced technology deemed crucial to Washington’s national security.
Highlighting the challenges, just days before Yellen’s visit, Beijing unveiled new export controls on metals key to semiconductor manufacturing on national security grounds, in the latest salvo in the chips war.
The Treasury secretary Friday told American businesspeople Washington was “concerned” about the curbs.
She stressed during her visit that Washington was not seeking a “wholesale separation of our economies”.
Despite tensions, Beijing has struck an optimistic tone about the visit.
Premier Li told Yellen on Friday that China could see the relationship recovering after a difficult period.
Analysts said Yellen’s visit could allow for a warming of ties.
Chen Dingding, the president of the Guangzhou-based think tank Intellisia Institute, told AFP the visit could have “positive implications” for US-China relations.
The United States does not expect specific policy breakthroughs this time but hopes for frank and productive conversations that can pave the way for future talks, a Treasury official told reporters.
Tensions soared earlier this year when the United States detected and then shot down what it said was a Chinese spy balloon after the craft traversed its territory.
Secretary of State Antony Blinken cancelled a visit to China over the incident but eventually travelled to the country in June.
During that trip, both sides agreed on the need to stabilize their relationship.
Khalil Wakim, with AFP
