Yellen's statement on China visit: It was a step forward

U.S. Treasury Secretary Janet Yellen said in a statement on her four-day visit to Beijing that the lengthy and constructive talks she held with Chinese officials would help stabilize U.S.-China relations. U.S. Treasury Secretary Janet Yellen said the meetings with Chinese officials were “direct, substantive and productive” and were a step forward in placing ties between the world’s two largest economies on “a more solid footing.” Yellen’s trip to Beijing comes at a time when Washington is considering restrictions on U.S. investment in China amid an escalating global battle for technological superiority. Yellen is the second member of U.S. President Joe Biden’s cabinet to visit Beijing in recent weeks amid efforts to stabilize ties between the two powers. Yellen said: “There are significant disagreements between the United States and China. Those disagreements need to be communicated clearly and directly. But President Biden and I do not view the relationship between the United States and China in terms of a great power conflict. We believe the world is big enough for both countries to thrive. "Both countries have an obligation to manage this relationship responsibly: to find a way to live together and share in global prosperity," he said.