US-China additionally agreed to proceed exchanges

Beijing:

US Treasury Secretary Janet Yellen stated Sunday that her talks with prime Chinese officers have put ties on “surer footing”, as she wrapped up a visit aimed toward stabilising fraught relations between the world’s two greatest economies.

During her four-day journey — which got here on the heels of US Secretary of State Antony Blinken’s go to — Yellen harassed the necessity for better exchanges and collaboration, at the same time as deep divides persist between the international locations.

“We believe that the world is big enough for both of our countries to thrive,” she advised journalists on the US embassy in Beijing on Sunday.

“Both nations have an obligation to responsibly manage this relationship: to find a way to live together and share in global prosperity,” she added.

Her journey furthers a push by President Joe Biden’s administration to regular ties with China whereas nonetheless asserting US insurance policies.

While the journey didn’t produce particular breakthroughs, China’s official Xinhua information company stated late Saturday that Yellen’s assembly with Vice Premier He Lifeng yielded an settlement to “strengthen communication and cooperation on addressing global challenges”.

Both sides additionally agreed to proceed exchanges, the readout added.

And Yellen stated Sunday that whereas there are “significant disagreements” between the 2 international locations, she and Chinese officers had held talks that had been “direct, substantive, and productive”.

“My bilateral meetings — which totaled about 10 hours over two days — served as a step forward in our effort to put the US-China relationship on surer footing,” she stated.

– Sources of rigidity –

Topping the laundry checklist of disagreements are Washington’s commerce curbs, which it says are meant to cut back the second-largest financial system’s entry to superior know-how deemed essential to nationwide safety.

On Sunday, Yellen stated she had harassed that Washington’s measures “are not used by us to gain economic advantage”.

“These actions are motivated by straightforward national security considerations,” she stated.

She additionally stated she had raised her “serious concerns” over what she known as “unfair trade practices” by Beijing.

She cited boundaries to international companies coming into the Chinese market in addition to points across the safety of mental property.

“I also expressed my worries about a recent uptick in coercive actions against American firms,” she stated, referring to a latest nationwide safety crackdown towards US consulting companies in China.

– ‘Messaging’ a key objective –

Looking forward, “any concrete key breakthroughs and major deliverables presumably will be reserved for the two top leaders to announce,” stated Yun Sun, director of the China program on the Washington-based Stimson Center.

“The two sides have not had this level of communications and consultations for a number of years,” she advised AFP, including that success will lie within the beginning or restarting of this course of.

Last month, Biden voiced confidence in assembly Chinese chief Xi Jinping quickly.

Lindsay Gorman, senior fellow on the German Marshall Fund of the United States, added: “I think one underappreciated audience is really US allies and partners, both in the region and globally.”

“The main goal for this trip is really a messaging goal,” she advised AFP.

Among the goals are speaking how Washington considers its financial relationship with China, and dispelling the notion that it would embrace “pure zero-sum competition” — whereas signaling it targets a fairer enjoying discipline.

Overall, China’s angle in direction of Yellen’s go to seems “more enthusiastic” than Blinken’s journey, as he’s thought-about extra hawkish, stated Wu Xinbo, director of the Center for American Studies at Fudan University.

“Yellen is seen as a professional in the eyes of the Chinese, and her attitude towards China-US economic and trade relations is relatively rational,” stated Wu, noting that she opposes decoupling the 2 economies.

Taylor Fravel, of Massachusetts Institute of Technology, advised AFP: “I don’t think a single visit or interaction alone can achieve the goal of stabilising relations.”

But Yellen’s go to and remarks convey assist for continued US-China financial cooperation, “despite the political frictions in the relationship and competitive actions around limiting China’s access to certain technologies such as semi-conductors.”

(This story has not been edited by NDTV employees and is auto-generated from a syndicated feed.)