US, China discuss economic issues on Yellen’s China tour
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The United States and China have agreed to hold talks and create two economic groups focused on a wide range of issues. U.S. Treasury Secretary Janet Yellen has urged Chinese leaders to change their domestic manufacturing policies. The two sides are set to hold “intensive exchanges” on cultivating more balanced economic growth and combating money laundering. Yellen said the efforts would establish a structure for Beijing and Washington to exchange views and address Chinese industrial overcapacity. Yellen was en route to Beijing after beginning her five-day visit in the southern city of Guangzhou. Some analysts say the announcement reflects Yellen’s effort to push forward on collaboration in areas the U.S. and China agreed on during U.S. President Joe Biden and Chinese leader Xi Jinping’s San Francisco summit last November. While he called the announcement a positive development, Roberts said he does not think Beijing and Washington will reach agreement on contentious trade issues during Yellen’s trip. While Washington highlighted threats posed by China’s industrial overcapacity, Beijing focused on its concerns about U.S. export controls on Chinese companies during the meeting between Yellen and He. Despite persistent differences over contentious trade issues, Yellen and He underscored the importance for China and the U.S. to “properly respond to key concerns of the other side” to build a more cooperative economic relationship. Yellen is scheduled to have meetings with other senior officials Sunday and Monday in Beijing.

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https://www.voanews.com/a/us-china-discuss-economic-issues-on-yellen-s-china-tour/7559460.html