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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