In a resolute stance against the influx of cheap Chinese goods flooding global markets, U.S.

Treasury Secretary Janet L. Yellen delivered unequivocal remarks during her visit to Beijing.
Emphasizing the detrimental ripple effects of such a surge on American businesses and
workers, Yellen adamantly stated that the United States will not come to terms with a
recurrence of this phenomenon.
Her remarks came after Beijing agreed to talks to prevent rising trade tensions from derailing
tentatively improving relations with Washington.
The Chinese government’s advocating for expanding manufacturing in sectors such as solar,
electric vehicles and lithium-ion batteries has ‘growing negative spillovers' on the globe.
Drawing a parallel to a glut of Chinese steel exports that “decimated” industries around the
world in the 2010s, Yellen asserted "President Biden and I will not accept that reality
again."
Besides, it's worth noting that Yellen’s visit to Beijing serves as a part of an effort to stabilize
relations after years of spiraling tensions.
Biden and Chinese leader Xi Jinping spoke by phone last week as both superpowers pushed
forward with a tentative reset of a relationship hamstrung by lingering disputes over trade
and technology.
Analysts caution against a potential repeat of the "China shock" that ravaged American
manufacturing in the 2000s if China persists in pumping funds into manufacturing to spur its
slowing economy. Yellen reiterated that U.S. concerns transcend anti-China sentiment and,
moreover, they are shared by numerous countries worldwide, including Japan, Mexico, and
the Philippines, as well as across Europe.
Yellen said. “... When the global market is flooded by artificially cheap Chinese products,
the viability of American and other foreign firms is put into question.”
Acknowledging the imperative to mitigate rising trade tensions stemming from Chinese
overproduction, Yellen announced an initiative of "intensive exchanges" to address global
economic imbalances. The talks are set to begin within weeks. Furthermore, Yellen stated
that Chinese authorities should boost domestic consumption to balance the current lopsided
reliance on manufacturing.
Nevertheless, Beijing has bristled at any suggestion of a solution that puts its emerging
dominance in the technologies at risk. In particular, premier Li Qiang urged (called for) the
United States to uphold a fair approach to competition and refrain from politicizing trade
matters.
Moreover, China’s ballooning trade relationship with russia emerged as another flashpoint,
with Chinese authorities rejecting Yellen's warning against Chinese companies supporting
russia's military-industrial sector.
But against all odds, China maintains an unwavering stance on safeguarding its economic
interests against perceived external pressures.