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  • Writer's pictureStephen H Akin

Yellen goes to China

Updated: Apr 8

It was once said "only Nixon could go to China". Now it's Treasury Secretary Yellen

Treasury Secretary Yellen arrived in Guangzhou, the People’s Republic of China.


Secretary Yellen in a recent speech laid out three principles guiding America’s economic relationship with the PRC. These principals continue to guide our engagement today.


The United States proceeds with confidence in our economic strength thanks to our historically strong recovery and the investments the Biden Administration is making in America’s productive capacity. In the context of this relationship, America first seeks to secure our national security interests along with those of our allies and to protect human rights. Second, we seek a healthy economic relationship with China that provides a level playing field for American workers and firms. Finally, we also seek to cooperate where we can on key bilateral and global priorities.


During her engagements in China, Secretary Yellen will advocate for American workers and businesses to ensure they are treated fairly, including by pressing Chinese counterparts on unfair trade practices and underscoring the global economic consequences of Chinese industrial overcapacity. Secretary Yellen will also work to expand bilateral cooperation on countering illicit finance, which can drive important progress on shared efforts against criminal activity such as drug trafficking and fraud. In China, the Secretary will also engage her counterparts on critical work that benefits both the United States and China, as well as the world, including work to bolster financial stability, address climate change, and resolve debt distress among developing nations.    


On Friday, April 5, in the morning, Secretary Yellen will hold a roundtable discussion with economic experts to discuss challenges and opportunities in the PRC’s economy.


Secretary Yellen will then meet with Guangdong Governor Wang Weizhong. In the afternoon, Secretary Yellen will participate in an event with leading representatives of the American business community in China, hosted by AmCham China, and deliver remarks on the bilateral economic relationship. In the late afternoon, Secretary Yellen will begin extended bilateral meetings with Vice Premier He Lifeng.


On Saturday, April 6, Secretary Yellen will continue and then conclude a series of bilateral meetings with Vice Premier He. In the afternoon, Secretary Yellen will depart Guangzhou for Beijing.


On Sunday, April 7, Secretary Yellen will participate in a bilateral meeting with Premier Li Qiang. Later, Secretary Yellen will meet with Beijing Mayor Yin Yong. In the afternoon, Secretary Yellen will meet with students and professors at Peking University. In the evening, the Secretary will participate in a bilateral meeting with Finance Minister Lan Fo’an. While in Beijing, Secretary Yellen will also meet with leading Chinese economists.


On Monday, April 8, Secretary Yellen will meet with former Vice Premier Liu He of the People’s Republic of China. Later, she will hold a bilateral meeting with People’s Bank of China Governor Pan Gongsheng.


In the afternoon, Secretary Yellen will hold a press conference, during which she will deliver remarks discussing her trip to China. This press conference will be livestreamed here.


On Tuesday, April 9, Secretary Yellen will depart Beijing for Washington, DC. In the evening, she will arrive in Washington, DC.

 

March Unemployment Data

April 5, 2024


Total nonfarm payroll employment rose by 303,000 in March, and the unemployment rate changed little at 3.8 percent. Job gains occurred in health care, government, and construction.


Download the Full Report:


empsit
.pdf
Download PDF • 323KB

 

SPECIAL UPDATE APRIL 8, 2024


Remarks by Secretary of the Treasury Janet L. Yellen at a Press Conference in Beijing, the People’s Republic of China:


Yellen
.pdf
Download PDF • 70KB

 

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