The U.S. and China, the world's two biggest economies, must compete fairly and communicate closely to avoid misunderstandings, U.S. Treasury Secretary Janet Yellen said in Beijing on Saturday.
US Treasury Secretary Janet Yellen speaks during a meeting with Chinese Premier Li Qiang at the Great Hall of the People in Beijing on July 7, 2023.The United States and China, the world's two biggest economies, must compete fairly and communicate closely to avoid misunderstandings, U.S. Treasury Secretary Janet Yellen said in Beijing on Saturday.
But it was critical to keep talking about areas of common interest, as well as disagreements, she said in prepared remarks. "Amid a complicated global economic outlook, there is a pressing need for the two largest economies to closely communicate and exchange views on our responses to various challenges," she said.
Despite talk of U.S.-China economic decoupling, recent data show a trade relationship that is fundamentally solid, with two-way trade hitting a record $690 billion last year.
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