Yellen finally heading to China after Biden’s ‘dictator’ Xi remark.

Treasury Secretary Janet Yellen to Enhance Economic Relations with China

Treasury Secretary Janet Yellen is embarking on a crucial trip to Beijing this week, aiming to strengthen communication and economic ties with China. The Treasury Department has announced that Yellen’s visit will take place between Thursday and Sunday and will involve meetings with top officials.

Building a Responsible and Collaborative Relationship

“While in Beijing, Secretary Yellen will discuss with PRC officials the importance for our countries — as the world’s two largest economies — to responsibly manage our relationship, communicate directly about areas of concern, and work together to address global challenges,” read the department’s press release.

During her time in China, Yellen will focus on key points from a speech she delivered in April, outlining the “three principles guiding America’s economic relationship with the PRC.”

1. Securing National Security and Human Rights: The release emphasized the intention to protect national security interests, along with those of allies, and safeguard human rights through targeted actions that do not seek economic advantage.
2. Fostering Mutual Economic Growth: Yellen seeks a healthy economic relationship with China that promotes mutually beneficial growth, innovation, and expands economic opportunities for American workers and businesses.
3. Addressing Global Challenges: Cooperation on urgent global challenges like climate change and debt distress is a priority for both countries.

It is important to note that Yellen’s itinerary does not include a meeting with Chinese President Xi Jinping. However, she will address China’s economic practices towards other nations and discuss the Biden administration’s plan to restrict outbound investment to the country.

The trip was initially scheduled for earlier this year but was postponed following the shooting down of a Chinese spy balloon over the Atlantic Ocean in February. Since then, the Biden administration has been actively working towards improving relations with the Chinese government.

Last month, Secretary of State Antony Blinken engaged in direct diplomatic talks with Chinese officials. Shortly after, President Joe Biden referred to Xi as a “dictator,” further complicating the tensions between the United States and China.

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