US Treasury Secretary Janet Yellen warned that The US and its allies will respond to what she called China’s “unfair economic practices.”
The United States has repeatedly asked Beijing to “follow the market reforms.” In a speech delivered in Beijing, at a meeting with representatives of American companies present in China, Yellen said she “believes it is in the interest of both countries to have direct and clear lines of communication at a high level.” According to Yellen, “regular exchanges could help both countries monitor economic and financial risks at a time when the global economy was facing headwinds like Russia’s illegal war in Ukraine and the lingering effects of the pandemic.” The US Treasury Secretary visited Beijing, where she held talks with Chinese leaders. Yellen’s trip followed US Secretary of State Anthony Blinken’s visit as part of Washington’s efforts to stabilize ties between the world’s two largest economies.