US President Joe Biden will meet Chinese leader Xi Jinping face-to-face for their first in-person encounter since Biden took office. Follow live updates here.
From CNN's Phil Mattingly in Bali, Indonesia
Yellen’s remarks track with a clear effort to take down the temperature on a relationship between the world’s two largest economies that has grown increasingly contentious – and not always with clear lines of communication – over the course of Biden’s time in office. “What I'm very much hoping is that it's a result of the President's bilateral role with President Xi today, we'll engage in more intensive conversations going forward with our Chinese counterparts about the Chinese economy, global macroeconomic outcomes, and how policies both in the US and China are impacting those outcomes,” said Yellen.
That communication is viewed as increasingly critical in the wake of aggressive US actions to cut off China’s access to certain technology, accelerating the intensity of an economic and technological competition that rivals and, in many cases, overlaps with its military counterpart.
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