US Treasury Secretary Janet Yellen arrived in China on April 4 for the second time in less than a year. In Guangzhou in the south of the country, she will meet American business leaders and Vice Prime Minister He Lifeng. But most of his visit will take place in Beijing. Janet Yellen is due to meet her counterpart Lan Fo’an, Prime Minister Li Qiang and Central Bank Governor Pan Gongsheng. The two largest economies have become closer in recent months, but the US Treasury Secretary will have her work cut out to ease the still-high tensions.
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In the eyes of Beijing, Janet Yellen is not one of the anti-China hawks and therefore enjoys a certain amount of trust among her counterparts. But will it be able to convince China to stop flooding the global market with its low-cost electric vehicles, batteries and solar panels, a practice that Washington considered as “ unfair » ? Not sure.
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American national security in question
The slowdown in its economy is pushing China to maintain its overproduction. But Washington fears that the shocks currently shaking China will end up impacting the global economy and promises not to sit idly by. Even if the weather seems to be thawing and Beijing has judged “ frank and thorough » the conversation on Tuesday April 2 between American President Biden and his Chinese counterpart Xi Jinping, there is no shortage of angry issues.
Washington plans to ban certain American investments in China for reasons of national security, this particularly concerns semiconductorsthese electronic chips that China badly needs if it wants to upgrade its economy.
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