Priya PatelTLDR:
– US and Chinese officials have completed their third meeting of a working group aimed at cooperating on financial issues.
– The meeting is seen as a continued effort to ease tensions between the two powers.
US and Chinese officials have concluded their third meeting of a working group established to cooperate on financial issues. This meeting is seen as a continuation of the trend set by both countries in November 2023 to ease tensions. The officials from the U.S. Department of the Treasury met with their counterparts in the People’s Bank of China to discuss a range of issues, including financial stability and countering money laundering.
During their visit to China, the delegation also had a meeting with Vice Premier He Lifeng. The Treasury Department stated that Treasury Secretary Janet Yellen would be returning to China for a future visit. Yellen previously visited China in July, and her meeting with He in November was seen as a precursor to the meeting between U.S. President Joe Biden and China’s President Xi Jinping.
While this meeting between the U.S. and China helps prevent the relationship from deteriorating any further, it did not resolve any major differences between the two countries. The longstanding economic issues between China and the U.S., stemming from the trade war initiated by former President Donald Trump, continue to persist.
Overall, the completion of this meeting between U.S. and Chinese officials on financial issues demonstrates the ongoing effort to improve cooperation and reduce tensions between the two powers. The inclusion of Treasury Secretary Janet Yellen’s future visit to China signals a commitment to further dialogue and engagement. However, the meeting did not address the underlying economic disputes that have been ongoing since the trade war began.
