3 July 2023
Treasury Secretary Janet Yellen is set to travel to Beijing for meetings with senior Chinese officials, aiming to manage the relationship between the world’s two largest economies. However, no breakthrough is expected following Secretary of State Blinken’s recent trip, as President Biden’s remarks referring to Xi Jinping as a “dictator” have strained relations. Yellen’s visit takes place amid concerns over the global economy and tensions over exports and manufacturing in China. Despite the optimism in the markets, the recent heated rhetoric from Beijing and comments from former Vice President Mike Pence further complicate the situation.