US Treasury Secretary Yellen Holds High-Level Talks with Chinese Vice Premier to Ease Economic Tensions Ahead of APEC Summit

Yellen's discussions with He Lifeng in San Francisco aim to establish open lines of communication, address unfair economic practices, and tackle global challenges, setting the stage for potential talks between President Biden and Chinese President Xi Jinping at the APEC summit.

• US Treasury Secretary Janet Yellen is holding discussions with Chinese Vice Premier He Lifeng in San Francisco to ease economic tensions between the two nations and tackle global challenges. The meetings aim to establish open lines of communication and address unfair economic practices before the upcoming APEC summit.
• Yellen's strategy involves a balance of protecting national security interests while seeking a stable and healthy economic relationship with China. The US seeks to encourage a rules-based, level playing field in terms of global economics, rather than suppressing other economies.
• Yellen, expressing serious concerns about Beijing's unfair economic practices, plans to discuss these issues with her counterpart. These practices include large-scale non-market tools, barriers to market access, and coercive actions against US firms operating in China.
• The US has also voiced concern about China's lending practices under the Belt and Road Initiative, which critics argue often lead to excessive debt and increased influence by Beijing in participating nations. Yellen plans to raise these concerns during her meeting with He Lifeng.
• The negotiation processes involves discussing national security issues, including US' actions to prevent the advancement of highly sensitive technologies that could be used against national security. The goal is to reduce the risk of misunderstanding and miscalculation in these areas between the two nations.

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