US Treasury Secretary Janet Yellen said on Friday that a decoupling of the US and Chinese economies would be"virtually impossible".Yellen's four-day trip is her first to China as Treasury chief.US Treasury Secretary Janet Yellen said on Friday that a decoupling of the US and Chinese economies would be"virtually impossible" and would destabilise global markets, in comments made while on a visit to Beijing packed with talks with officials and businesses.
The US has blacklisted a number of Chinese companies to prevent them from accessing the most advanced chips while pushing its allies to follow suit."We seek to diversify, not to decouple. A decoupling of the world's two largest economies would be destabilising for the global economy," Yellen told a meeting with representatives of US businesses at a session hosted by the American Chamber of Commerce in Beijing.
"The nature of China-US economic and trade relations is mutually beneficial and win-win, and there is no winner in a trade war or 'decoupling and breaking chains'," a ministry official said in a statement. On Friday afternoon, Yellen is due to meet Premier Li Qiang at Beijing's Great Hall of the People, providing a chance to discuss the economic relationship, raise concerns and find opportunities for collaboration.
The United States does not expect specific policy breakthroughs this time, but hopes for frank and productive conversations that can pave the way for future talks, a US Treasury official told reporters on Thursday.
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