LIVE: US Treasury Secretary Janet Yellen Speaks to American Business Community in Guangzhou, China
US Treasury Secretary Janet Yellen participates in an event with leading representatives of the American business community in China and delivers remarks on the bilateral economic relationship.
Janet Yellen called for a level playing field for American companies and workers as she opened a five-day visit to China in a major industrial and export hub. Yellen told Wang Weizhong, the governor of Guangdong province, that it's important for the two sides to have open and direct communication on areas of disagreement. She said that "this includes the issue of China’s industrial overcapacity, which the United States and other countries are concerned can cause global spillovers." Yellen, the first Cabinet-level official to visit China since President Joe Biden met Chinese leader Xi Jinping last November, has telegraphed that she will raise what the US considers to be unfair Chinese trade practices, a concern shared by many European countries.
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