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Washington and Beijing discuss production control and trade relations


September, 17 2024
watermark Economic news

Senior American officials will travel to Beijing this week for talks with their Chinese counterparts. The focus will be on issues related to China's excess production capacity and its impact on the global economy.


The delegation will be headed by Jay Shambaugh, Deputy Secretary of the Treasury for International Affairs. Shambaugh believes it is extremely important to discuss China's macroeconomic imbalance and its industrial policy, which, according to the American side, can negatively affect workers and companies both in the United States and in other countries.


The talks will take place within the framework of the fifth round of meetings of the economic working group established by China and the United States last year. It is expected that American officials will also touch on the topic of debt relief for developing countries.


Earlier, the head of the US Treasury Janet Yellen expressed hope for the visit of Chinese Finance Minister Lan Foan to the United States and did not rule out the possibility of her own trip to China in the near future.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.