Treasury Secretary Janet Yellen said on Saturday that the United States will launch two new initiatives with China and hold more economic dialogues aimed at addressing the increasing overcapacity in the world’s second-largest economy.
Ms. Yellen is on her second trip to China as Treasury Secretary. Following two days of extended dialogues with her Chinese counterpart, Vice Premier He Lifeng, Ms. Yellen announced that the two sides agreed to establish a new initiative for “intensive exchanges on balanced growth in the domestic and global economies.”
“These exchanges will facilitate a discussion around macroeconomic imbalances, including their connection to overcapacity,” Ms. Yellen said in a statement on Saturday. “I intend to use this opportunity to advocate for a level playing field for American workers and firms.”…
