BEIJING: The United States and China, the world's two biggest economies, must compete fairly and communicate closely to avoid misunderstandings, US Treasury Secretary Janet Yellen said in Beijing on Saturday .
But it was critical to keep talking about areas of common interest as well as disagreements, she said. She said:"Amid a complicated global economic outlook, there is a pressing need for the two largest economies to closely communicate and exchange views on our responses to various challenges." Despite talk of US-China economic decoupling, recent data show a trade relationship that is fundamentally solid, with two-way trade hitting US$690 billion last year.
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