US, China need ‘tough’ conversations, Yellen tells Chinese Premier Li

U.S. Treasury Secretary Janet Yellen told Chinese Premier Li Qiang on Sunday that the ability to have difficult conversations has put the two economic superpowers on “a more stable footing” over the past year.
As they began a meeting in Beijing, Li responded that the two countries needed to respect each other and should be partners, not adversaries, adding that “constructive progress” had been made during Yellen’s trip.
Yellen said Washington and Beijing had a “duty” to responsibly manage the complex relationship, as she brought her case for reining in China’s excess factory capacity to the Chinese leadership.
Yellen has made the threat of China’s excess production of electric vehicles (EVs), solar panels and other clean energy products to producers in the U.S. and other countries a focus of her second visit to China in nine months.
She visited Beijing in July 2023 to try to normalise bilateral economic relations after a period of heightened tension caused by differences over issues ranging from Taiwan to COVID-19’s origins and trade disputes.