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US and China need to communicate on economic issues, says US Treasury secretary

Close communication between the United States and China on economic issues is vital – U.S. Treasury Secretary Janet Yellen said Wednesday (18) before a meeting with Chinese Vice Premier Liu He in Zurich, Switzerland.

“Faced with a difficult global economic backdrop, there is an urgent need for the world’s two largest economies to communicate closely,” Yellen said at the start of her first face-to-face meeting with Liu He.

Referring to the meeting between US President Joe Biden and Chinese President Xi Jinping in Bali in November, Yellen emphasized the responsibility of the US and China to show that they can “manage their differences.”

Also read: Head of US diplomacy to visit China in February

Liu He, who also mentioned the meeting between the presidents of the United States and China on the sidelines of the G20 summit in Bali, said he wants to ensure “serious communication” between the two great powers.

Over the past three years, the rivalry between the world’s two largest economies has intensified.

Yellen stopped off in Zurich, before embarking on a trip through Senegal, Zambia, and South Africa. The aim is to strengthen economic ties between these countries and the United States at a time when China is increasing its influence on the African continent.

Also read: Brazil, Ukraine and trade with China mark start of Davos forum

U.S. Secretary of State Antony Blinken is planning a trip to China from February 5 to 6.

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