Yellen and Chinese Vice Premier to Discuss Economic Relations Ahead of APEC Summit

Treasury Secretary Janet L. Yellen is scheduled to meet with Chinese Vice Premier He Lifeng in San Francisco this week, amid ongoing global economic challenges and geopolitical tensions. This meeting serves as a precursor to the upcoming Asia-Pacific Economic Cooperation (APEC) summit, aiming to strengthen the economic ties between the United States and China.

The discussions will cover key issues such as debt relief for developing countries and financing for climate change projects. Both Yellen and He will also work to clarify misunderstandings resulting from recent U.S. national security measures, particularly concerning investment restrictions on certain Chinese sectors.

This initiative highlights the Biden administration’s commitment to gaining a deeper understanding of China’s economic strategies. It follows Yellen’s trip to Beijing in July and the creation of ongoing financial and economic working groups to facilitate dialogue between the two nations.

Additionally, Yellen is advocating for the diversification of U.S. supply chains as a means to reduce reliance on China. This strategy is part of a larger effort to ensure stability and resilience in the U.S. economy amid evolving global conditions.