WASHINGTON: US Treasury Secretary Janet Yellen's first trip to China will focus on recalibrating ties between the world's two largest economies, as military communications remain frozen and Beijing's
US officials say they expect"candid" discussions during Yellen's Jul 6 to Jul 9 trip, after Beijing's abrupt announcement on Monday of controls on exports of some gallium and germanium products widely used in semiconductors, as well as aNo major breakthroughs are expected, but Yellen will push to open new lines of communication and coordination on economic matters, and stress the consequences of supplying lethal aid to Russia, US officials say.
Wu Xinbo, a professor at China's Fudan University, described Yellen as a"voice of reason" within the Biden administration, and said China hopes Yellen's visit can"improve the mood" for potential future talks with Commerce Secretary Gina Raimondo on tariffs and sanctions on Chinese tech companies.
The US believes China is unnerved by last month's mutiny by Russia's Wagner mercenary group and the weakness of the Russian military, the official said, but Beijing relies on a stable Russia for food and fuel. Despite the cooling relations, trade between the US and China grew in 2022 for the third year in a row, US Commerce Department data show."We can't just be looking at this exclusively through the lens of de-risking."
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