Washington DC.CNN – Treasury Secretary Janet Yellen is on a mission to restore the fragile but important relationship between the United States and China.This mission is scheduled to begin in earnest next year.
Yellen announced her 2024 U.S.-China strategy in a major address to business leaders Thursday night, detailing her 2024 priorities for improving U.S.-China economic relations.Strengthen regulatory cooperation and address sensitive issues such as terrorist financing and fentanyl leaks.
The remarks, made at the 50th anniversary dinner of the U.S.-China Business Council in Washington, were the first time Yellen outlined her goals for U.S.-China economic relations in 2024.
“We’re not trying to resolve all differences or avoid all shocks,” Yellen said.”This is not realistic in any way.” “But our goal is to make communication resilient and prevent misunderstandings from escalating and causing harm when disagreements and shocks occur.” Good location.
Relations reached their lowest point in February when US President Joe Biden ordered the shooting down of a Chinese reconnaissance balloon.
Yellen said one of the reasons for the deterioration in relations with China is the Trump administration’s “disrespect for relationships with our partners and allies.”
“This damages our global reputation and means American businesses and workers have missed out on important economic opportunities,” she said.
Still, Yellen said the U.S.government has “consistently” expressed concern that China engages in “unfair economic practices” that could harm American workers and businesses admitted that.
Recent months have seen a reduction in tensions between the U.S. and China. Treasury Secretary Janet Yellen attributed this to a shift in approach by the Biden administration. Senior U.S. officials, including Yellen and Secretary of State Antony Blinken, have visited China, and a significant four-hour meeting took place last month between President Biden and Chinese leader Xi Jinping.
“We know that this relationship will continue to face challenges,” Yellen said.”There are many areas where the United States and China have very different views.” “Furthermore, there is always the risk of shocks affecting both countries.”
