Both sides had a ‘frank exchange of views’ on issues of concern, US treasury department says.
“:”China and the United States agreed to step up policy coordination to counter economic headwinds and climate change, after top economic officials of the world’s two largest economies held their first face-to-face meeting in more than two years in a bid to manage bilateral tensions. Chinese Vice-Premier Liu He met US Treasury Secretary Janet Yellen on the sidelines of the World Economic Forum in Davos on Wednesday, and the US said the conversations were “candid, substantive, and constructive”. The two discussed macroeconomic and financial developments, while Yellen also raised issues of concern “in a frank exchange of views”, the US Department of Treasury said in a statement. China set for ‘steady, continuous’ foreign capital inflows as investors return “Both sides agreed it is important for the functioning of the global economy to further enhance communication around macroeconomic and financial issues,” it said in the statement. The two sides also agreed on the importance of sustainable development, and that they would step up cooperation on climate finance through bilateral and multilateral channels, such as within the United Nations, the G20, and Apec. “She looks forward to travelling to China and to welcoming her counterparts to the United States in the near future,” the statement said. Their talks came after Liu’s keynote speech on Tuesday in which he tried to ease concerns over China’s post zero-Covid recovery and opening up, and called for joint efforts to push for economic “reglobalisation”, while adding that rate hikes by major economies, without naming the US, should be carried out in a way that prevents increasing debt risks to emerging markets.
