US Treasury chief meets Chinese official to deepen communication, address global challenges

By Ovunc Kutlu

ISTANBUL (AA) - US Treasury Secretary Janet Yellen met Vice Premier of the People’s Republic of China, Liu He, to deepen communication and work to address global challenges, the Treasury Department said Wednesday.

The two officials met in Zurich, Switzerland and discussed macroeconomic and financial developments, the functioning of the global economy and sustainable development.

They agreed on enhancing cooperation on climate finance on a bilateral and multilateral basis, including within the UN, G20 and APEC, as well as through support for emerging markets and developing countries in their clean energy transitions.

"Amid a complicated global economic outlook, there is a pressing need for the two largest economies in the world to closely communicate on global macroeconomic and financial conditions and exchange views on how we are responding to various challenges," Yellen said separately

She said the US and China share a responsibility to show they can manage differences and prevent competition from becoming anything ever near conflict.

"While we have areas of disagreement, and we will convey them directly, we should not allow misunderstandings, particularly those stemming from a lack of communication, to unnecessarily worsen our bilateral economic and financial relationship," she added.