Janet Yellen in China to address trade concerns

Janet Yellen is on a four-day visit to China aimed at improving strained relations between the world’s top economies. She will also address concerns over trade practices and technology development.

The trip is Yellen’s second visit to China as Treasury Secretary. Her meetings will focus on establishing fair competition rules, notably in electric vehicles, solar panel manufacturing and battery production, which she said China has overproduced.

Her remarks come amid escalating concerns over China’s state subsidies for clean energy and industrial overcapacity, which she highlighted as detrimental to American firms, workers and global economic stability.

Yellen’s trip follows recent discussions between President Joe Biden and President Xi Jinping, emphasizing the importance of stabilizing financial and economic ties between the US and China.