Deputy Prime Minister and US Treasury Secretary Share Dialogue and Consensus Amid Conflicts... Differences on Specific Issues

[Asia Economy Reporter Yuri Choi] Chinese Vice Premier Liu He and U.S. Treasury Secretary Janet Yellen agreed on the 18th (local time) to communicate and manage various conflicts arising in the economic sector. However, it appears they were unable to narrow differences on specific trade and investment issues.

According to major foreign media, Vice Premier Liu, attending the Davos Forum, and Secretary Yellen, who stopped by Switzerland before her Africa tour, met in Zurich, Switzerland, on the same day. They discussed the pressing conflicts between the two countries regarding financial and trade policies.

This is the first face-to-face meeting between the two officials overseeing their countries' economic policies. Previously, they had only held three video conferences.

In his opening remarks, Vice Premier Liu stated, "China and the United States must manage their differences and prevent competition between the two countries from escalating into conflict." He emphasized the need for "serious communication and coordination" on economic issues, including climate change policies, adding, "We are ready to deepen exchanges with the United States" and "We must always keep the bigger picture in mind, manage differences, and find common ground."

Secretary Yellen also stressed, "We must not allow misunderstandings caused by a lack of communication between the two countries to unnecessarily worsen economic and financial relations." She added, "I hope the two countries can deeply explore mutual interests in various fields, including macroeconomics and climate-related finance."

The meeting was arranged to implement the agreement made at the U.S.-China summit held in Bali, Indonesia, last November, to coordinate economic policies including macroeconomic development.

This content was produced with the assistance of AI translation services.