Janet Yellen, US Treasury Secretary, arrived in Beijing on July 5. She must meet her Chinese counterparts in a context of reinforced trade restrictions between the two countries.
With our correspondent in Beijing, Stephane Lagarde
As for Anthony Blinken last month, no one, neither the American nor the Chinese side, expected a major diplomatic breakthrough on the occasion of this visit. But given how far tensions have risen in recent months with the case of the spy balloons in particular, the dialogue itself is already perceived as constructive. We would even be in a thaw phase, say some observers.
The Treasury Secretary should meet in Beijing, the new team from the 20th Congress of the Chinese Communist Party (CCP), the men of Xi Jinping, including Deputy Prime Minister He Lifeng in charge of negotiations with the United States.
Janet Yellen has been popular in China since distancing herself last month from those on Capitol Hill advocating decoupling from China. An option according to her disastrous “. China, which is trying to revive its economy, applauded this statement with both hands.
I am glad to be in Beijing to meet with Chinese officials and business leaders. We seek a healthy economic competition that benefits American workers and firms and to collaborate on global challenges,
—Secretary Janet Yellen (@SecYellen) July 6, 2023
A slow thaw
On the negotiating table for the Chinese side, the lifting of American restrictions on the export of high technologies. Just before the arrival of the Treasury Secretary and in order to weigh in on this showdown, Beijing announced the limitation of its exports of gallium and germanium, two rare metals used in the manufacture of semiconductors and solar panels. A thaw in small steps, because for the moment everyone is emphasizing national security before economic progress.
And Beijing risks being disappointed in its expectations. According to wall street journalafter restricting the sale of advanced microchips to China, the White House is reportedly considering limit access to cloud computing services based in the United States.
The program of the visit
This trip, scheduled until Sunday, July 9, is the first in China for Janet Yellen since she has been in this position.
On Friday, Janet Yellen is to be received by Prime Minister Li Qiang and is to meet with former Deputy Prime Minister Liu He.
The US Treasury Secretary is also due to attend a dinner hosted by former China Central Bank Governor Zhou Xiaochuan.
Analysts are also betting on an exchange with the new Chinese Vice-Premier, He Lifeng, appointed last March.
The fact that Janet Yellen “ spends four days in Beijing, in the context of strong domestic and international pressures, underlines the importance she attaches to this visit commented Wendy Cutler, vice-president of the Asia Society (ASPI), a think tank based in the United States. If the subjects of dissatisfaction are not lacking on both sides and leave little room for maneuver, the visit should make it possible to lay the foundations for future cooperation, according to Wendy Cutler.
(With AFP)