The US Treasury Secretary began a visit to China yesterday that is likely to last until Sunday. The expectation is that these meetings will lead to an easing of tensions between the world’s two largest economies given that, in Janet Yellen’s own words: “A disengagement of the world’s two largest economies would be destabilising for the global economy”. Today she also met with Premier Li Qiang. On the other hand, the US president expressed concern about the recent increase in trade barriers imposed by China, particularly on exports of critical minerals for the manufacture of semiconductors such as gallium and germanium. The move on Monday is seen as a response to the Biden administration’s ban on advanced chip sales to China, a measure announced last October.
Yellen visits China looking to potentially ease tensions between world’s two largest economies
