Skip to main content

Advertisement

Advertisement

Yellen seeks stability in first meeting with China

NUSA DUA —  United States (US) Treasury Secretary Janet Yellen on Wednesday (Nov 16) sought to stabilise ties between the world's two largest economies as she held her first in-person meeting with a senior Chinese official.

United States (US) Treasury Secretary Janet Yellen speaks during a meeting on the sidelines of the G20 summit in Jimbaran on the Indonesian resort island of Bali on Nov 14, 2022.

United States (US) Treasury Secretary Janet Yellen speaks during a meeting on the sidelines of the G20 summit in Jimbaran on the Indonesian resort island of Bali on Nov 14, 2022.

NUSA DUA —  United States (US) Treasury Secretary Janet Yellen on Wednesday (Nov 16) sought to stabilise ties between the world's two largest economies as she held her first in-person meeting with a senior Chinese official.

Ms Yellen met Mr Yi Gang, governor of the central People's Bank of China, at the Group of 20 summit in Bali, where two days earlier US President Joe Biden and Chinese counterpart Xi Jinping met for three hours in a bid to tame high tensions.

Ms Yellen and Mr Yi "discussed global macroeconomic and financial developments, including the challenges of high and volatile energy and commodity prices, and exchanged views on the macroeconomic outlook in the United States and China," the Treasury Department said.

In an interview with The New York Times ahead of the talks, Yellen said she would explain to Mr Yi issues that have raised concerns in China including the Biden administration's push to restrict exports of sensitive technology.

She told the newspaper she would focus on "stabilising the relationship and trying to get it on a better footing while recognising that we have a whole range of concerns".

M Xi, in an address to the summit on Tuesday, called on wealthy nations to "reduce the negative spillover effects" of their monetary policies. AFP

Related topics

Janet Yellen US treasury central bank

Read more of the latest in

Advertisement

Popular

Advertisement

Stay in the know. Anytime. Anywhere.

Subscribe to get daily news updates, insights and must reads delivered straight to your inbox.

By clicking subscribe, I agree for my personal data to be used to send me TODAY newsletters, promotional offers and for research and analysis.