U.S. Treasury Secretary Janet Yellen and her team have wrapped up discussions in China, focusing on key issues impacting the economic relationship between the two nations. One major concern addressed during the talks was the issue of unfair trade practices. Yellen highlighted the Biden administration's contention that China's economic model and trade policies create an uneven playing field for American companies and workers. Specifically, the dominance of Chinese industries in areas such as solar products, electric vehicles, and lithium-ion batteries due to heavy subsidies and overcapacity was a focal point.
Both sides agreed to engage in 'intensive exchanges' to promote more balanced economic growth, acknowledging the importance of addressing these disparities over time.
