yellen
Beijing (AFP) - From her down-to-earth demeanour to chopstick skills, US Treasury Secretary Janet Yellen has been under scrutiny on her China visit, where she delivered a serious message -- a call to action to avoid the pitfalls of excess factory capacity. Washington and others are worried that overcapacity, fuelled by Chinese government support, could unleash a surge of Chinese exports at artificially low prices, disadvantaging firms elsewhere in new industries like electric vehicles and solar energy. But Beijing has pushed back against such warnings, with a minister calling them "groundless"...
AFP
Beijing (AFP) - US Treasury Secretary Janet Yellen and Chinese Premier Li Qiang sounded a hopeful tone on US-China cooperation on Sunday, though the American policymaker noted both sides cannot shy away from tough conversations. The US-China relationship can only move forward with direct and open communication, Yellen told Li, after arriving in the Chinese capital from the southern city of Guangzhou. "China sincerely hopes that the two countries will be partners, not adversaries," Li said in welcoming remarks to Yellen. He added that Chinese internet users have closely followed the details of ...
AFP
By Beiyi SEOW Pékin (AFP) - La secrétaire américaine au Trésor Janet Yellen et le Premier ministre chinois Li Qiang ont affiché dimanche à Pékin une volonté commune de renforcer le dialogue, malgré les différends qui opposent les deux premières puissances économiques. Les relations entre les Etats-Unis et la Chine ne peuvent avancer que grâce au dialogue, a fait valoir Janet Yellen à son interlocuteur. "Nous ne pouvons progresser que si nous communiquons directement et ouvertement l'un avec l'autre", a-t-elle insisté lors d'un entretien dans le cadre solennel du Palais du peuple. "Cela ne veut...
AFP (Français)
Guangzhou (AFP) - The United States and China have agreed to hold "intensive exchanges on balanced growth", the US Treasury Department said in a statement, after two days of talks between Treasury Secretary Janet Yellen and her Chinese counterpart He Lifeng in Guangzhou. The planned talks mark the latest step forward in joint efforts to stabilise rocky ties between the world's two leading economies since a meeting between presidents Joe Biden and Xi Jinping last November. "These exchanges will facilitate a discussion around macroeconomic imbalances, including their connection to overcapacity, ...
AFP
Guangzhou (AFP) - US Treasury chief Janet Yellen warned during a visit to China on Friday that Beijing's subsidies for industry could pose a risk to global economic resilience. Yellen arrived in the southern city of Guangzhou on Thursday for several days of talks with Chinese officials on her second visit to the world's second-largest economy in less than a year. She expressed concerns about China's "overcapacity" undercutting American and other countries' companies. Such overcapacity is seen as a result of huge Chinese subsidies to industries, such as solar, electric vehicles and batteries, ...
AFP
Washington (AFP) - US Treasury Secretary Janet Yellen said in an interview that aired Wednesday she hopes to travel to China to "reestablish contact" with Beijing despite differences between the two countries. Tensions between China and the United States have soared in recent years, with both President Joe Biden and his predecessor Donald Trump calling Beijing the most serious threat to long-term US global primacy. But the Biden administration has recently sought to dial down the heat, with Yellen telling MSNBC that her hopes in "traveling to China is to reestablish contact." "There are a new ...
AFP
Washington (AFP) - A recession in the United States is not "inevitable" but the economy is likely to slow, Treasury Secretary Janet Yellen said Sunday, days after the US Federal Reserve hiked interest rates, raising fears of a contraction. "I expect the economy to slow" as it transitions to stable growth, she said on ABC's "This Week," but "I don't think a recession is at all inevitable." The US economy has recovered strongly from the damage wrought by Covid-19, but soaring inflation and supply-chain snarls made worse by the war in Ukraine have increased pessimism. Wall Street stocks tumbled a...
AFP
Washington (AFP) - A recession in the United States is not "inevitable," Treasury Secretary Janet Yellen said Sunday, just days after the US Federal Reserve hiked interest rates, raising fears of an economic contraction. "I expect the economy to slow" as it transitions to stable growth, she said on ABC's "This Week," but "I don't think a recession is at all inevitable." The US economy has recovered strongly from the damage wrought by Covid-19, but soaring inflation and supply-chain snarls exacerbated by the war in Ukraine have increased pessimism. Wall Street stocks tumbled after the US centr...
AFP
New York (AFP) - The United States is unlikely to suffer an economic downturn, despite sky-high inflation, US Treasury Secretary Janet Yellen said Thursday. "There's nothing to suggest that there's a recession in the works," she said during an interview at The New York Times' economic forum. The US economy has recovered strongly from the Covid-19 damage, but the highest inflation in four decades and supply chain snarls exacerbated by Russia's invasion of Ukraine are increasing pessimism. The US Labor Department is set to release the May consumer price index (CPI) report on Friday, and analysts...
AFP
Washington (AFP) - Soaring US inflation rates are "not acceptable" but the health of the world's largest economy is fundamentally sound thanks to policies that have mitigated the impact of the pandemic, Treasury Secretary Janet Yellen told AFP. Yellen conceded in an interview she is "concerned" about inflation running at its highest level in decades, and warned of further "global fallout" if the West moves ahead with punishing sanctions on Russia over the Ukraine crisis. But President Joe Biden's Treasury chief struck a confident note on the broader outlook for the US economy, which despite tw...
AFP
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