Yellen wraps up visit, says US-China ties on ‘surer footing’

The trip by US Treasury secretary Janet Yellen was aimed at stabilising ties between the world’s two biggest economies.

“We believe that the world is big enough for both of our countries to thrive,” she told journalists at the US embassy in Beijing today. While the trip did not produce specific breakthroughs, China’s official Xinhua news agency said late Saturday that Yellen’s meeting with vice-premier He Lifeng yielded an agreement to “strengthen communication and cooperation on addressing global challenges”.And Yellen that while there are “significant disagreements” between the two countries, she and Chinese officials had held talks that were “direct, substantive, and productive”.

She cited barriers to foreign firms entering the Chinese market as well as issues around the protection of intellectual property. Overall, China’s attitude towards Yellen’s visit appears “more enthusiastic” than Blinken’s trip, as he is considered more hawkish, said Wu Xinbo, director of the Center for American Studies at Fudan University.

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