Yellen visits China looking to potentially ease tensions between world’s two largest economies

yellen elegante

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.

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.