Treasury Secretary Yellen to Visit China for Talks with Senior Officials

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U.S. Treasury Secretary Janet Yellen will visit China this week for talks with senior Chinese officials as part of an effort of the Biden administration to “deepen communication” with the CCP on the global and macroeconomy and financial developments.  This visit comes just weeks after U.S. State Secretary Antony Blinken met with China’s president Xi Jinping and other top officials amidst tense U.S.-China relations. Yellen is expected to speak on the need for both countries “to responsibly manage our relationship, communicate directly about areas of concern, and work together to address global challenges.”  The U.S. has no intention of decoupling its economy from China, Yellen emphasized, noting it would be “disastrous” for both countries and “destabilizing for the rest of the world.”  Other important issues to be addressed are intellectual property protection, market access, and technology transfer — all of which have been contentious in U.S.-China trade negotiations.