Yellen: The United States and China have obvious differences. The two countries should communicate directly and clearly

Before the end of his visit to China on July 9, US Treasury Secretary Janet Yellen said that there were obvious differences between the US and China, and the two sides should communicate in a clear and direct way. However, he believed that the two countries had made some progress in improving relations and believed that healthy relations could be established.

Reuters reported that Yellen pointed out that the goal of this visit to China was to establish and strengthen relations with the new economic team of the Chinese government and reduce the risk of miscalculation. She believed that the bilateral meetings with Chinese officials were direct, substantive and constructive, which made the bilateral relations stable, but acknowledged that the problems of both sides could not be solved through a single visit, and was confident that the two countries would have more frequent contacts in the future。

Yellen stressed that the United States has no intention of decoupling from China's economy, describing that decoupling will bring disastrous consequences to both sides, and the world will also be unstable. She indicated that Washington wants to see an open, free and fair economy, rather than forcing countries to choose sides.

She mentioned that during her meeting with Chinese officials, she expressed concern about China's "unfair economic measures" and the recent erosion of American enterprises. Yellen reiterated to Chinese officials that if Washington restricts foreign investment, it will be carried out in a transparent way and in a rule-based way, and the goal will be very narrow.

Yellen also said that he agreed with Chinese officials that Beijing could raise concerns about specific actions of the United States and solve unexpected consequences under specific circumstances.

In addition, the two sides also discussed the war between Russia and Ukraine. Yellen said that Chinese enterprises need to avoid providing Russia with materials needed for war or help to evade sanctions.

With regard to the intention of many countries in the world to "de dollarize", Yellen said that China, Russia, Brazil and India planned to introduce new currencies, which did not threaten the role of the US dollar. He pointed out that all data showed that the US dollar was still the main currency for international transactions, and believed that there was no substitute for the US dollar in the foreseeable future.