Tag: Yellen, Janet L

Janet Yellen’s Trip to China: No Breakthroughs But 10 Hours of Talks

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Treasury Secretary Janet L. Yellen came to China amid hopes that the United States could restart a relationship that has been deteriorating for years and had gotten off the rails recently over significant points of tension — including the war in Ukraine, a Chinese spy balloon that flew over U.S. territory and was shot down by the American military, and the two countries’ escalating exchange of restrictions on trade. After 10 hours of meetings over two days in Beijing, Ms. Yellen said at a news conference on Sunday that she…

A Former Insider on What’s Happening in China

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Desmond Shum was one of China’s most well-connected businessmen. He and his former wife, Duan Weihong, used their relationships with top government officials to build a multibillion-dollar property development company during a golden age for entrepreneurs starting in the mid-1990s. Now, tensions with the West dominate discussion, with Treasury Secretary Janet Yellen sharply criticizing China’s treatment of American companies on a trip to Beijing this week. Mr. Shum left China in 2015 as Xi Jinping, the country’s leader, asserted greater state control over the country and its businesses. Duan, also…

How Much Debt Does China Have?

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China, which has lent nearly $1 trillion to some 150 developing countries, has been reluctant to cancel large debts owed by countries struggling to make ends meet. That is at least in part because China is facing a debt bomb at home: trillions of dollars owed by local governments, their mostly off-the-books financial affiliates, and real estate developers. One of the main issues for Treasury Secretary Janet L. Yellen during her visit to Beijing this week is whether she can persuade China to cooperate more to address an evolving debt…

Yellen Urges China to Cooperate More on Climate Finance

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The Biden administration called on China on Saturday to do more to help developing countries combat climate change, urging the world’s largest emitter of greenhouse gases to back international climate finance funds that it has so far declined to support. Treasury Secretary Janet L. Yellen delivered the message during her second day of meetings in Beijing, where she is seeking to cultivate areas of cooperation between the United States and China. While China has expressed support for programs to help poor countries cope with the effects of climate change, it…

Janet Yellen Criticizes China’s Treatment of U.S. Companies

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Treasury Secretary Janet L. Yellen on Friday criticized the Chinese government’s harsh treatment of companies with foreign ties and its recent decision to impose export controls on certain critical minerals, suggesting that such actions justify the Biden administration’s efforts to make U.S. manufacturers less reliant on China. Ms. Yellen delivered the forceful defense of American industry on her first day of meetings in Beijing during a high-stakes trip to ease tension between the United States and China. Her comments, to a group of executives from American businesses operating in China,…

Yellen Faces a Diplomatic Test in Her High-Stakes Visit to China

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At her confirmation hearing in early 2021, Treasury Secretary Janet L. Yellen struck a tough tone on China, describing it as America’s most important strategic competitor and pledging to confront its “abusive, unfair and illegal practices” that she said were harming businesses and workers in the United States. Since then, Ms. Yellen has emerged as a voice of moderation in the Biden administration, embracing the mantle of economic pragmatism as the world economy copes with inflation and sluggish growth. The Treasury secretary has expressed objections to China’s record on human…

Today’s Top News: Israel’s Deadly Operation in the West Bank, and More

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The New York Times Audio app is home to journalism and storytelling, and provides news, depth and serendipity. If you haven’t already, download it here — available to Times news subscribers on iOS — and sign up for our weekly newsletter. The Headlines brings you the biggest stories of the day from the Times journalists who are covering them, all in about 10 minutes. Hosted by Annie Correal, the new morning show features three top stories from reporters across the newsroom and around the world, so you always have a…

Yellen’s China Visit Aims to Ease Tensions Amid Deep Divisions

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The last time a U.S. Treasury secretary visited China, Washington and Beijing were locked in a trade war, the Trump administration was preparing to label China a currency manipulator, and fraying relations between the two countries were roiling global markets. Four years later, as Treasury Secretary Janet L. Yellen prepares to arrive in Beijing, many of the economic policy concerns that have been festering between the United States and China remain — or have even intensified — despite the Biden administration’s less antagonistic tone. The tariffs that President Donald J.…

Yellen to Visit China in Bid to Steady Economic Ties

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Treasury Secretary Janet L. Yellen will travel to China on Wednesday, a high-stakes visit that is intended to help stabilize the fraught relationship between the world’s two largest economies. The trip to China will be Ms. Yellen’s first as Treasury secretary and follows Secretary of State Antony J. Blinken’s visit last month. It comes at a moment of tension between the United States and Beijing following the discovery of a Chinese spy balloon traversing America earlier this year and Chinese frustration with the Biden administration’s efforts to block China from…

White House Reportedly Weighs New A.I. Export Limits

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Will the U.S. tighten a cordon around A.I. chips? Shares in high-flying chipmakers like Nvidia and AMD were down in premarket trading today, after The Wall Street Journal reported that the Biden administration is weighing new restrictions on exporting artificial intelligence-related semiconductors to China. The deliberations underscore the White House’s worries about falling behind in the race to dominate A.I. and the potential for Beijing to use the technology in military applications — and they show that it is willing to tighten the screws on trade to stay ahead. Any…