Authored by Dorothy Li via The Epoch Times (emphasis ours),
U.S. Treasury Secretary Janet Yellen is set to hold economic talks with her Chinese counterpart this week before a potential meeting between the top leaders of the world's two largest economies.
Ms. Yellen is scheduled to meet with Chinese Vice Premier He Lifeng on Nov. 9 and 10, the Treasury Department announced on Nov. 6. The meetings will take place before the start of the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco, where Ms. Yellen will host the top finance officials and ministers from the 21 member states of APEC on Nov. 11.
The Yellen–He meeting was also confirmed by China's Foreign Ministry. Mr. He will visit the United States from Nov. 8 to Nov. 12, the ministry's spokesman, Wang Wenbin, said on Nov. 6.
The announcement came shortly after state media revealed that Mr. He became the head of two separate Chinese Communist Party (CCP) committees that Chinese leader Xi Jinping created in March, a move to bring the financial system under the Party's direct control.
The upcoming Yellen–He meeting follows a series of diplomatic engagements between Washington and Beijing amid rising tensions. The U.S.–China relationship has been strained over issues ranging from the CCP's military aggressions in the Taiwan Strait and the South China Sea to the U.S. export controls and investment bans on advanced technologies to counter the regime's military modernization.
Ms. Yellen said ahead of the meeting that the United States is seeking "a stable and healthy economic relationship" with China that requires a "rules-based, level playing field."
"This week, I will speak to my counterpart about our serious concerns with Beijing’s unfair economic practices, including its large-scale use of non-market tools, its barriers to market access and its coercive actions against U.S. firms in China," Ms. Yellen wrote in a Nov. 6 Washington Post op-ed.
"In certain sectors, these unfair practices have resulted in the overconcentration of the production of critical goods inside China."
The United States has responded by seeking to diversify its critical supply chains with a target of not triggering "a disorderly, wholesale private-sector pullback from China," she wrote
During her four-day trip to Beijing in July, Ms. Yellen told Chinese officials that the United States wouldn't allow its national security to be compromised.
"We continue to take targeted actions to secure our vital security interests," she said.
At the same time, Ms. Yellen emphasized that direct conversations with the regime's senior officials could help reduce the risk of misunderstanding and miscalculation. To facilitate the communications, the U.S. Treasury Department and China's Finance Ministry in September launched two joint working groups to deal with economic and financial issues.