U.S. Treasury Secretary Janet Yellen said her meetings with senior Chinese officials were productive but that the countries remain at odds on several issues.
said her recent bilateral meetings with senior Chinese officials were productive and helped stabilize the relationship between the two world powers.
"But President Biden and I do not see the relationship between the U.S. and China through the frame of great power conflict," she continued. "We believe that the world is big enough for both of our countries to thrive." A possible meeting between Biden and Chinese President Xi could come as soon as September for the Group of 20 summit in New Delhi or in November for the Asia-Pacific Economic Cooperation gathering in San Francisco.
Chinese officials raised concerns about an expected executive order restricting outbound investment, Yellen said. But she assured them that any measure addressing this issue would be narrow in scope and would be enacted transparently through a rule-making process that would allow public input. When she was asked about plans by BRICS countries Brazil, Russia, India and China to announce a new currency, Yellen said she anticipates that the dollar to remain the dominant currency in international transactions.
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