Yanet Yellen asks China for “healthy competition” and warns that Washington “will protect its national security”

The United States Secretary of the Treasury, Janet Yellendefended this Friday in Beijing, before the Chinese prime minister, Li Qiang, a “healthy economic competition” with Chinaand recalled that it is “practically impossible” to separate the two economies, despite the trade tensions between the two leading world powers.

But he issued a warning: “We seek healthy economic competition based on rules, not pecking order, and that can benefit both countries. There are global challenges that both countries must cooperate on. But the United States, in certain circumstances, must take specific steps to protect their national security, something we can disagree on.”

But it will not be an easy task to convince the Chinese authorities that the US measures seek to safeguard their national security and not hinder the development of the great Asian economy, analysts say.

Yellen’s trip to China, which ends on Sunday, comes two weeks after US diplomatic chief Antony Blinken traveled to Beijing and is yet another attempt to defuse tension between the two powers.

The official added during the meeting with Li that her trip seeks to “deepen constructive efforts” so that both countries can “address global challenges” and “macroeconomic stability,” according to a Treasury statement.

“China and the United States have a duty to cooperate and show leadership both with respect to their own countries and the rest of the world,” he said.

He also emphasized that the “disagreements” between the two powers should not lead to “misunderstandings” that “unnecessarily worsen” their economic and financial relationship.

The US Treasury Secretary, according to the statement, agreed with Li that “differences should not be a reason for estrangement, but rather an engine for greater communication and exchange.”

“Rainbow”

Li said his country saw “a rainbow” when Yellen arrived at the airport on Thursday, the American’s first trip to China since taking office in 2021.

“I think this can also be plied to the relationship between the United States and China: after experiencing a time of wind and rain, surely we can see a rainbow,” compared the premier.

The rainbow that received Yanet Yellen when she arrived in Beijing, and that the Chinese prime minister spoke about at the meeting. Photo: EFE

The visit of the head of the Treasury occurs at a time when some politicians from his country call to reduce Washington’s dependence on the Asian power.

But the Secretary of the Treasury recalled that “a separation of the two largest economies in the world would be destabilizing for the world economy” and asked that “disagreements” not deteriorate mutual relations.

In recent years, disputes between Beijing and Washington have spanned numerous issues, from export controls to human rights, national security and the situation in Taiwan.

For his part, the Asian giant’s prime minister assured that the good relationship between the two powers could determine “the future and destiny of humanity,” according to state media CCTV.

In addition, Li said that China hopes relations will “get back on track” in the near future, adding that both nations should “strengthen communication” regarding economic talks through “sincere and stable exchanges.”

The visit comes months after Washington imposed restrictions on the export of US-made semiconductors and materials, a move aimed at limiting China’s ability to make parts needed to run supercomputers or advanced military systems.

Although there has been no official confirmation, The Wall Street Journal published days ago that the United States is considering new restrictions on exports of artificial intelligence chips to China.

This Monday, Beijing struck back by announcing restrictions on the export of gallium and germanium, two key metals for the manufacture of semiconductors, a product that is at the center of commercial and technological tensions between the two countries.

Source: AFP and EFE

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