GUANGZHOU, April 7 – The United States and China have agreed to hold “intensive exchanges on balanced growth”, after two days of talks between Chinese Vice President He Lifeng and US Treasury Secretary Janet Yellen.
The planned talks mark the latest step forward in joint efforts to stabilise rocky ties between the world’s two leading economies since a meeting between presidents Joe Biden and Xi Jinping last November.
“These exchanges will facilitate a discussion around macroeconomic imbalances, including their connection to overcapacity, and I intend to use this opportunity to advocate for a level playing field for American workers and firms,” said Yellen in a statement on Saturday.
Overcapacity is seen by the United States as huge Chinese subsidies – to industries such as solar, electric vehicles and batteries – risking a surplus of cheap goods that threatens those sectors elsewhere.
