After two days of talks with Chinese Minister of Finance, the US Treasury Minister who is visiting China, and Chinese Vice Premier He Lifeng, agreed to formally discuss Sino -US and global "economic balance growth", and partially responded to the United States' concern about the overcapacity of Chinese manufacturing capacity.
Scholars of interviewees believe that the problem of overcapacity has become a difference between China and the United States. At present, it is a good thing that the two sides do not directly fight the trade war.
Yellen and He Lifeng held several rounds of talks in Guangzhou on Friday (April 5) to Saturday (April 6).After the talks of Saturday, she issued a statement saying that the two sides agreed to focus on macroeconomic imbalances, including the connection with overcapacity, and launched a formal discussion.Essence
According to Xinhua News Agency, this discussion on the growth of the economic balance between China and the United States and the global economic balance will be carried out under the "Sino -US Economic and Financial Working Group" set up by the two countries last year.Financial, anti -money laundering cooperation and other issues.China and the United States also agreed to set up a forum for cooperation to combat money laundering.
At the press conference after the talks, she was asked about the discussion of China's consent to carry out economic balance growth. Whether China did make a concession, or when a delay in the United States, the United States said that she believed in Beijing that she believed in Beijing.It has been understood that the impact of the United States on the Chinese industry strategy on the United States and a large amount of exports may flood into the US market.
According to Bloomberg, Yelun does not think that the problem can be resolved soon."This is a complicated issue, which involves China's entire macroeconomic and industrial strategy, so it is not solved in the afternoon and one month." She emphasized that the talks will provide a structured method so that China and the United States can continue to listen to both parties.Opinions, see if you can find a way to avoid conflict.
Yellen described her four and a half hours of talks with He Lifeng on Saturday, "frank and effective".
Xinhua News Agency said that the two sides revolved in the implementation of the important consensus of China and the United States, and conducted a "in -depth, frank, pragmatic, and constructive" exchanges on the two countries and the global macroeconomic situation, Sino -US economic relations and global challenges.
However, Xinhua News Agency also said that China has expressed serious concern on the US's economic and trade restriction measures and fully responded to production capacity issues.The two sides agreed to continue to communicate.
Yellen Thursday (April 4) arrived in Guangzhou to open a six -day visit to China.The primary task of her trip is to promote the excess capacity of China's control of electric vehicles, photovoltaic and new energy industries.The United States believes that the Chinese government's continuous subsidies for these industries have led to overcapacity and exported overseas cheaply to threaten the corresponding industries in the United States and other countries.
The Chinese official Xinhua News Agency ’s English -owned Agency on Friday refuted this, saying that Yelun's presence of overcapacity is an excuse for American protectionist policies. It is designed to destroy China's domestic economic growth and international cooperation and“ spread panic ”.Chinese ambassador to the United States, Xie Feng, accepted an interview with the US Media News Weekly (Newsweek) that he questioned the excess of Chinese production "a pseudo -proposition" and said that from a global perspective, high -quality production capacity was not overcapacity and was seriously inadequate.News Weekly published the full text of Xie Feng on the official website on Friday.
Scholar: China will not touch hard
Li Mingjiang, an associate professor at the Nanyang University of Science and Technology, Singapore Nanyang Institute of Technology, pointed out in an interview with Lianhe Morning Post that Yellen's electric vehicle, photovoltaic and new energy industries are new growth points for China's key and economic transformation periods.In part of the "new productive productivity" strategy, China will not give up the advantages in this area.
On the other hand, he said that China also believes that "overcapacity" is another new tool for curbing China's development after the chip ban, and "disputes and games have just begun."
But Li Mingjiang also pointed out that the result of the talks is not pessimistic. The United States hopes to solve different differences through dialogue instead of imposing tariffs directly, and China will not touch hard."China has more and more international trade pressure. Once the contradictions are intensified, the foreign trade environment will worsen. Therefore, China has a difficult compromise in the short term, but it can find room for concessions in political diplomacy."
Yellen Monday (April 8) will continue to discuss with Chinese officials in Beijing. She will meet with officials including the State Council Premier Li Qiang, Minister of Finance Lanfo An and Pan Gongsheng, Pan Gong of the People's Bank of China.
