U.S. Treasury Secretary Janet Yellen stated on Thursday, June 22, 2023, that it is of much essence for the U.S. and China to maintain a relationship so they can cooperate on global challenges.
Yellen’s statement follows after President Joe Biden’s remarks calling Chinese leader Xi Jinping a “dictator” sparked criticism from Beijing.
At a Democratic Party fundraiser in northern California on Tuesday, June 20, 2023, U.S President Joe Biden compared Chinese President Xi Jinping to a dictator. Biden stated that Xi was embarrassed over the recent tensions surrounding a suspected Chinese spy balloon that had been shot down by the Air Force over the East Coast.
“That’s a great embarrassment for dictators, when they didn’t know what happened,” Biden said.
Biden’s remarks opened a new rift just after U.S. Secretary of State Antony Blinken concluded a visit to Beijing. The trip sought to break the ice in a relationship that has hit a historical low.
The U.S. Treasury Secretary disclosed at a news conference in Paris that “with respect to the comments, I think President Biden and I both believe it’s critical to maintain communication … to clear up misperceptions, miscalculations. We need to work together where possible.”
“But we have disagreements, and we are also forthright in recognizing we do have disagreements,” she added.
Yellen has recently advocated for improving relations between the U.S. and China, arguing cooperation is needed for the sake of maintaining global stability.
Meanwhile, speaking as a two-day summit centred on improving the global financial response to climate change and poverty commenced, Yellen said “I’m certainly pleased to see China participating in this summit.”
Chinese Premier Li Qiang was among the dozens of heads of state and government, world finance officials and activists who converged on the French capital on Thursday to discuss ways of reforming the global financial system and address debt, climate change and poverty crises, especially for developing nations.
“I believe it’s important, as President Biden does, that the world’s two largest economies are … working together in addressing global challenges,” Yellen said.
She also emphasized that debt restructuring was a U.S. priority.
Yellen urged all creditors to engage in negotiations to reduce the load as an increasing number of nations deal with unsustainable debt that is made worse by the effects of climate change. China is the largest government lender in the world.
Yellen mentioned Zambia, the southern African nation she visited in January, in her statement about the debt negotiations, saying she was “encouraged by progress” and hoped “debt treatment can move forward soon.” She did not go into details.
“Other urgent pending cases must also move forward quickly,” she added, mentioning Ghana and Sri Lanka.
China Formally Decries Biden’s ‘Dictator’ Remarks
Also on Thursday, China delivered a formal protest of Biden’s remarks.
A Chinese embassy spokesperson noted in a statement that Chinese Ambassador Xie Feng informed senior White House and State officials that Washington “should take earnest actions to undo the negative impact” of what Biden said or “bear all the consequences.”
“With the latest irresponsible remarks about China’s political system and its top leader, people cannot help but question the sincerity of the U.S. side” in seeking to stabilize relations, the statement said.
“The Chinese government and people do not accept any political provocation against China’s top leader and will resolutely respond,” the statement added.
The issued statement follows after Chinese Foreign Ministry Spokesperson, Mao Ning on Wednesday, June 21, 2023, averred that Biden’s comments “go totally against facts and seriously violate diplomatic protocol, and severely infringe on China’s political dignity.”
Mao stated that “It is a blatant political provocation. China expresses strong dissatisfaction and opposition,” adding that “The U.S. remarks are extremely absurd and irresponsible.”
