The seventh round of economic talks between China and the United States took place in Johannesburg on Monday, focusing on global macroeconomic policies and pressing international issues.
The meeting aimed primarily at fostering cooperation to assist low-income nations facing liquidity crises. The discussions also highlighted the need for reforms in the governance structures of multilateral development banks, according to China’s Finance Ministry.
The Chinese delegation took the opportunity to address recent US economic and trade restrictions, expressing concern over their impact. These concerns were voiced as part of a broader discussion on economic relations between the two nations.
This round of talks follows recent comments by US Treasury Secretary Janet Yellen, who called for continued dialogue between China and the US. Yellen stressed that maintaining open channels of communication is essential for managing shared global challenges.
The Treasury Secretary further noted that these discussions are vital for addressing concerns such as global financial stability and China’s macroeconomic policies. Additionally, she emphasized the importance of raising issues such as China’s industrial overcapacity and its companies’ support for Russia amidst the ongoing war in Ukraine.
The economic talks serve as a crucial platform for preventing misunderstandings between the two countries, helping to mitigate tensions and clarify policy intentions. This dialogue continues to be a critical element in managing the complex and evolving relationship between the world’s two largest economies.