Posted on 07/04/2023 4:21:45 AM PDT by FarCenter
China and the United States will hold top-level official meetings during US Secretary of Treasury Janet Yellen’s visit to Beijing this week. Neither side expects a significant improvement in relations in the short run but there’s reason for hope that they may gradually accept each other’s differences.
Yellen will visit Beijing on July 6-9, it was decided after a discussion between the two countries, China’s Ministry of Finance said on Monday. The former chairwoman of the US Federal Reserve is considered a relatively China-friendly US politician.
Yellen’s visit comes after Secretary of State Antony Blinken’s on June 18-19 and ahead of an expected meeting between Chinese President Xi Jinping and US President Joe Biden. Taiwan issues, the Ukraine war and US chip-export bans will continue to be the top agenda items in the coming Xi-Biden dialogues.
Chinese commentators say Washington has unilaterally started a cold war against China and thus it is unlikely that the US will stop imposing new curbs on China’s high-technology sector in the short run.
Zhang Weiwei, a professor of international relations at Fudan University, said on a TV program on June 26 that the Sino-US conflict was caused by the US, which refused to accept the fact that China is rising. Besides, he said, it was a big mistake that the US thought it could stop China from rising.
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“US debt is one of the focuses among China-US economic topics,” he says. “The US has become anxious since China kept disposing of US treasury bonds in recent years. Even if China buys some more, it’s far from enough to satisfy the US.”
He adds that it is likely that Washington will use Taiwan issues to pressure Beijing during Yellen’s visit.
At the end of last year, China held $867.1 billion of US Treasury bonds, down from $1.12 trillion at the end of 2018. Japan’s holding of US Treasury bonds grew from $1.04 trillion to $1.08 trillion for the same period while the United Kingdom’s rose from $288 billion to $654.5 billion.
Janet Yellen, 76, needs to be wearing a big floppy hat , working in her garden. She can grow bok choy and water chestnuts in her garden.
Why is this senile intellectually challenged hobbit even in FedGov service? She should have retired decades ago.
They’ll laugh at her she’s smaller than they are
China is broke. The pervasive Chinese debt is so great it is immeasurable. All private debt is to banks that are in fact the CCP.
China sold assets to raise cash. American bonds are among the safest security assets. The bonds were sold and thus converted to cash.
China is broke?
Have you been sleeping for the last 30 years?
Pay attention........ it is now, not yesterday
Anyone ever notice the goal of all these diplomatic efforts, no matter the country involved is to “improve relations”, whatever that means? It is never to protect the interests o9f the American people. “We sold you out to the Chicoms but we improved relations.”
Today, yesterday, we have sold out to China for the last thirty years. Non-stop.
This nothing more than window-dressing.
No change, at all.
The presence of American companies manufacturing in China is seriously reduced. ompanies have left for other venues in Asia, central America and guess what? The good ol’USA
A great deal, a big deal has changed
China exports to the world have been drastically curtailed
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