Source: Bloomberg
Author: viktoria dendrinou, Christ Anstey
U.S. Treasury Secretary Jennte Yellen's contact with senior Chinese officials in Beijing provides a way for the United States and China to contain increasing damage to the two countries' economies.
Although the communication channels of both sides have not been restored in military, they coincide with dangerous contact with the sea and air forces of the two countries -but Yellen's visit to China shows the hope of establishing guardrails in economic competition.
At a 10 -hour meeting on Friday and Saturday, Yellen said that she tried to persuade China's newly on stage economic team, and the United States did not intend to seek "economic advantages" against China.Although the Bayeon government has strengthened the control of key exports and considers the restriction of foreign investment in the US company, Yellen emphasized that the measures taken by Washington are "targeted" to maintain national security.
Yellen said in Beijing on Sunday that any visit could not resolve the challenges facing both parties overnight.But she hopes that this visit will help establish a flexible and effective communication channel with China's new economic team.
How strong is the guardrail that Yellen is trying to establish, and the issue of export control may become an early test goldstone.The U.S. government will announce the administrative order of President Biden in the next few weeks, which will review the US investment in semiconductors, artificial intelligence and quantum computing and eventually limits.
This export limit may cut off certain investment in China in China.
Yellen said at a press conference that she was convinced that China would pay close attention to the US actions."We want to open up channels so that they can express concerns about our behavior. We can explain -in some cases, we can respond -the accidents of our behavior."
Yellen's remarks are by far the most clear statement, indicating that Washington may consider Beijing's views or feedback when implementing or formulating measures for China.
Xinhua News Agency reported that the Chinese Prime Minister Li Qiang told her when meeting Yellen on Friday that the pan -politization and pan -security of economic cooperation was not conducive to the economic development of the two countries and even the global economic development.According to Xinhua News Agency, this information was mentioned again during Yellen and Deputy Prime Minister He Lifeng's five -hour meeting.
Yellen has repeatedly emphasized that in -depth and extensive bilateral economic relations is a good thing.She said that for the two countries, it is important to ensure that "the extensive economic interaction between the two countries is not controversial for both parties".
For China, this contact was carried out in the background of the expected economic recovery after the end of the epidemic prevention restriction.
Yellen's information may alleviate the doubts of American allies, and the latter worry that Washington has embarked on a road that is committed to dividing the global economy into two major groups in the United States and China.Washington had previously put pressure on Japan and the Netherlands, asking them to join the camp that restricts key cutting -edge technologies to China.
From the perspective of a wider international community, Yellen's visit (a few weeks after the visit to China, the Secretary of State Brosy) shows the responsible image of contact with China. After all, many countries strongly oppose any new Cold War.Selected edge.
Wang Huiyao, the founder of the Global, said that Yellen's remarks in Beijing issued a very strong signal to the business community and the international community and other parts of the world, that is, the United States and China should cooperate together.
The United States and China have been increasing their strength to enhance their influence on the so -called Global South.When Yellen met with the Treasury Secretary of the Group of the 20th Group of the Golden Group of the 20th of India this month, he will have the opportunity to mention the United States' recovery of high -level contact with China.
Her speech in Beijing also put forward a new word to describe the efforts of the United States to promote trade and investment outside China.
Yelun said on Friday, "We seeks diversified, not decoupling." The next day, she said, "I heard that Chinese colleagues doubted the decoupling and expressed some doubts, thinking that the risks were equivalent to decoupling.I think it is very important to solve this problem. "
Xinhua News Agency commented on Friday that short -sighted behavior and cold war thinking can easily damage the progress that has achieved on the occasion of bilateral relations.It also said that promoting risks will not allow China to believe that the United States has abandoned siege and curbing China.
Tariffs
True reconciliation may require a large amount of trade tariffs imposed by the United States and China to cancel the Trump administration.
Yellen said on Saturday that tariffs were mentioned in the talks held in Beijing.The United States is currently conducting a four -year review of these measures in accordance with the law.She said that the results had not yet come out.
Any large -scale cutting tariffs will bring political risks to Biden, who is seeking re -election.Republican candidates have shown a strong anti -China position, and Republican lawmakers may attack the economic relations between the two sides as usual.
Mark Sobel, a former senior official of the Ministry of Finance, said that it is unrealistic that the economy can be separated from national security doubts; he is now the US Chairman of the US International Monetary Financial Institutions (OMFIF).
He said that Yellen's trip is unlikely to change the basic dynamics of bilateral economic relations.
When he went to London on Sunday on Sunday, National Security Consultant Sarawan told reporters on the Air Force No. 1 that the military contact between China and the United States had not thawed.
