Janet Yellen's bold statement: Stabilizing US-China ties is possible

US Treasury Secretary Janet Yellen expressed optimism about the prospects of stabilising the relationship between the United States and China. 

Yellen's comments came after her four-day visit to Beijing, during which she met with China's new economic leadership team. She noted that both Washington and Beijing share a desire to address the challenges and misunderstandings that have caused a rift between the world's two largest economies.

"There are challenges, but I believe there is a desire on both sides to stabilise the relationship and to constructively address problems that each of us see," Yellen said in her recent interview with National Public Radio’s Marketplace programme. She underscored the need for open and respectful discussions to build a productive relationship going forward.

While Yellen's trip did not result in specific breakthroughs, both countries agreed to continue exchanges, demonstrating a willingness to maintain dialogue. Yellen said that the United States is open to hearing Chinese concerns and expects more frequent communications at various levels to explore and address these concerns.

One significant topic of discussion during the visit was trade curbs. Yellen assured journalists that any new measures would be implemented transparently and narrowly, targeting sectors where there are specific national security concerns. She reassured China that the United States does not intend to impose broad-based impacts on the Chinese economy.

Yellen's visit also touched upon issues of market access and China's treatment of US firms. The Treasury official, speaking anonymously, revealed that both sides engaged in extensive conversations on these matters. Washington expressed a keen interest in more high-level engagements to ensure fair treatment and access for US companies in the Chinese market.

Yellen characterised her trip as successful in terms of establishing channels of regular communication and fostering a mutual understanding between the two nations. However, she acknowledged that there is still work to be done to bridge the gap that has developed between the United States and China.

As the world's attention remains focused on the US-China relationship, Yellen's visit and her commitment to constructive dialogue provide a glimmer of hope for improved ties between the two economic giants. While specific breakthroughs may not have been achieved during this trip, the continuation of exchanges and the willingness to address concerns represent positive steps towards building a more stable and productive relationship.