U.S. Treasury Secretary Janet Yellen and China’s Deputy Finance Minister Liao Min met in Washington on Friday to discuss macroeconomic policy developments, including Beijing’s most ambitious economic stimulus package since the coronavirus pandemic.
China’s growth rate in the third quarter was 4.6%, the lowest level since the same period last year. The Chinese government recently announced a number of stimulus measures aimed at achieving this year’s annual growth target of “about 5%.”
China’s Ministry of Finance said, “The Chinese side will focus on explaining China’s current macroeconomic situation and the many progressive policies it has recently introduced, and is concerned about the imposition of additional tariffs on China and Russia-related sanctions by the United States.” expressed,” he said.
He said there had been “in-depth, pragmatic and constructive” consultations on topics such as joint cooperation and future communication arrangements to help low-income countries address liquidity challenges.
Earlier this week, Yellen criticized the lack of efforts to boost consumer spending, saying, “I haven’t really heard any policy announcements from the Chinese side to address that in the way that I expected.”
The White House has repeatedly accused the Chinese government of signing big checks to state-owned enterprises and flooding global markets with cheap goods.
