US, China agree to hold talks on “balanced economic growth”

The United States and China have agreed to have " 

intensive discussions on balanced growth 

", according to a press release from the US Treasury Department published on Saturday April 6, following two days of talks between the Secretary of State. Trésor, Janet Yellen, and her Chinese counterpart, He Lifeng, in Guangzhou (Canton). The US Treasury Secretary also warned Chinese companies that would provide aid to Russia.

Janet Yellen, April 6, 2024 in Guangzhou (Canton). AFP - PEDRO PARDO

By: RFI with AFP

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These upcoming “ 

exchanges

 ” between the United States and

China

represent a new attempt to stabilize the tense relations between the world’s two largest economies since the meeting between Presidents Joe Biden and Xi Jinping in November 2023. They “

 will facilitate a discussion on imbalances macroeconomic

...

and I intend to take this opportunity to advocate for a level playing field for American workers and businesses 

,” Yellen said in a separate statement.

Caution

Ms. Yellen's visit, her second to China in a year, comes as

Washington

and Beijing disagree on a number of subjects, such as access to cutting-edge technologies, the future of Taiwan or the video application

TikTok

. The US Treasury Secretary also warned Chinese companies that would provide aid to Russia

and

its defense industry in the war in Ukraine.

Ms. Yellen stressed that "

 companies, particularly Chinese ones, must not provide material support to Russia's war against Ukraine, to the Russian defense industry 

" and threatened with "

significant consequences

" those who did so, according to a press release.

Subsidies to industry, a “

 risk

 ” 

Janet Yellen

arrived in China on April 4 for four days, with a first stop in Canton (Guangzhou), then must go to Beijing on Saturday April 6. Yesterday, Friday, the American Secretary of the Treasury affirmed that the subsidies paid by Beijing to the industry represented “

a risk for global economic resilience

 ”, by creating “

overcapacity

 ” of production.

Read alsoChina: Janet Yellen warns of the risk of overproduction linked to Chinese subsidies

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