The Secretary of the Treasury of the United States, Janet Yellen, and the Vice Prime Minister and head of Economy and Finance of the Chinese Communist Party, He Lifeng, have met in Canton to discuss aspects such as the export overcapacity of the Asian country, which floods the markets of its products, and its commercial support to Russia. Regarding the first aspect, they have agreed to start formal talks to guarantee “balanced growth.” The second of them remained a complaint from the United States.
Yellen assured after the meeting that Beijing seems to have realized “the international concerns about its industrial strategy and its potential to flood markets with exports,” according to Bloomberg.
The official Xinhua news agency assures that the Chinese vice prime minister has conveyed to Yellen his “serious concerns” about US economic and trade restrictions.
Yellen conveyed US concerns that Chinese exports are helping to sustain Russia’s military industries and, thereby, helping Moscow in its efforts to defeat Ukraine.
“We have been clear with China that we consider that Russia gains support from the goods that Chinese companies are supplying to Russia,” he said.