US, China discuss further economic prospects

US Treasury Secretary Janet Yellen has engaged in frank discussions with Chinese Premier Li Qiang during a meeting in Beijing, highlighting concerns about China's excess industrial capacity.

Despite the challenging nature of the talks, both sides emphasized the importance of respectful dialogue and constructive engagement in bilateral relations, Caliber.Az reports, citing Reuters.

During the 80-minute meeting, Yellen conveyed Washington's apprehensions regarding China's industrial capacity, emphasizing the need for responsible management of the complex relationship between the two nations. She underscored the significance of direct and transparent communication to address differences and foster progress.

Premier Li responded by advocating for mutual respect and partnership between the United States and China, emphasizing the need for constructive progress in bilateral relations. He acknowledged the strides made during Yellen's visit, emphasizing the importance of understanding and cooperation in navigating the intricacies of the relationship.

Yellen reiterated the commitment of both nations to manage their differences responsibly, acknowledging that progress has been made in stabilizing bilateral relations over the past year. She emphasized that stability does not entail ignoring differences but rather engaging in open and direct communication to find common ground.

While differences of opinion were evident, both parties engaged in a substantive and respectful dialogue, focusing on policy matters rather than ideological rhetoric, according to officials familiar with the discussions. This approach reflects a commitment to pragmatic cooperation and mutual understanding.

In response to US concerns, Li urged Washington to refrain from politicizing economic and trade issues and adopt a market-oriented and global perspective on production capacity. He highlighted China's efforts in the clean energy sector, emphasizing its contribution to the global energy transition.