During her recent visit to China, U.S. Treasury Secretary Janet Yellen raised concerns about overproduction in key industries, emphasizing the risks it poses to the global economy, including Mexico. She stressed the need for a level playing field for businesses and workers in both countries to ensure a healthy economic relationship between the U.S. and China.
Yellen highlighted the importance of addressing global challenges such as climate change and debt overhang in emerging markets, as well as seeking progress on concerns like overcapacity and economic practices related to national security. She expressed concern over the increase in production capacity in certain sectors in China due to government support for national companies, which has led to unfair practices and risks for American companies and workers.
The U.S. Secretary of the Treasury emphasized the need for close communication between the two largest economies and reiterated the importance of addressing global challenges together. Her meeting with Chinese Vice Premier He Lifeng focused on strengthening economic and commercial ties between the U.S. and China, reflecting the growing bilateral trade volume that reached $649.7 billion in 2023.
Yellen’s visit to China included meetings with other high-ranking Chinese officials, highlighting the ongoing dialogue between the two countries on economic issues. The discussions aimed to address concerns over overcapacity, unfair economic practices, and other challenges facing both nations. Yellen’s visit underscored the importance of cooperation and communication between the U.S. and China to promote a healthy economic relationship and address global challenges together.
In conclusion, Yellen’s visit to China reaffirmed that cooperation is essential for promoting a healthy global economy, particularly when it comes to addressing issues such as overproduction, debt overhang, climate change, fair trade practices
