Although she said the United States will continue to act to protect its national security interests, Yellen and President Joe Biden believe there can be « healthy economic competition » between the United States and China, « a long-term mutually beneficial economic relationship. » term. »
« I believe it is possible for both countries to be alert and take action to protect their national security interests, » he said.
The main victory of Yellen’s visit appears to have been the willingness of both sides to continue talking after years of escalating trade and security tensions. Yellen said the trip was an opportunity for US officials and a new economic team in Beijing to « establish a desire and willingness to work together to discuss issues where we have disagreements and see a deeper commitment from our personal ».
Yellen’s trip included meetings with Vice Premier He Lifeng and People’s Bank of China head Pan Gongsheng.
« I certainly expect our staff to be in much more regular communication about the full range of issues we’ve discussed that require more work, » he said.
