World is ‘big enough for both our countries to thrive’: Janet Yellen tells China

US Treasury Secretary Janet Yellen said that the world is big enough for both the United States and China to co-exist and that there is "ample room" for the US and Chinese companies to boost trade and investment. Yellen's remarks came as she concluded her visit to China in a display of Washington-Beijing geo-economic showdown. 

Yellen said she had "direct, substantive, and productive" talks with Chinese leaders, including Premier Li Qiang and Pan Gongsheng, the Communist Party chief of China's central bank.

Speaking at the Diaoyutai State Guest House in Beijing with Chinese financial tycoon He Lifeng on Saturday, the US treasury secretary said a "wide swath" of the American and Chinese economies should be able to interact in ways that emerge "uncontroversial to both governments".

"The fact that despite recent tensions we set a record for bilateral trade in 2022 suggests there is ample room for our firms to engage in trade and investment," Yellen was quoted as saying by Financial Times.

Yellen repeated Washington's pitch for the two countries to enhance communication while being surrounded by a complicated global economic outlook.

"Amid a complicated global economic outlook, there is a pressing need for the two largest economies to closely communicate and exchange views on  various challenges," Yellen further said. "No one visit will solve our challenges overnight. But expect that this trip will help build a resilient and productive channel of communication."

Yellen's visit is the second such recent visit by a US cabinet official to Beijing in a matter of weeks as Washington appeals to a belligerent China towards cooperation despite months of inflaming geo-economic tensions. 

"Broadly speaking, I believe that my bilateral meetings — which totalled about 10 hours over two days — served as a step forward in our effort to put the US-China relationship on surer footing," Yellen said.

Yellen added that the United States is not seeking to decouple from China. It would be "disastrous for both countries and destabilising for the world" and "virtually impossible to undertake."

"There is an important distinction between decoupling, on the one hand, and on the other hand, diversifying critical supply chains or taking targeted national security actions," she said.

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.