Will Economic and Trade Dialogue Break the Deadlock in US-China Relations?

The Chinese Delegation, including Vice Premier Liu He (L) and Governor of the People's Bank of China Yi Gang (2nd L) looks on during U.S.-China Trade Talks in Washington on Jan. 30, 2019. Jim Watson/AFP/Getty Images

Commentary

On June 1, U.S. Treasury Secretary Janet Yellen and the Chinese Communist Party (CCP) Vice Premier Liu He held an introductory virtual meeting. After the two parties issued brief statements, the Chinese state-run media claimed that China-U.S. economic and trade relations would accelerate. The CCP mouthpiece claims that the U.S. government is unlikely to continue to confront the CCP in the economic and trade field, but can only cooperate. This is probably the CCP’s wishful thinking or rhetoric from the CCP’s top leaders who are eager to shake off their current internal and external difficulties.

The US Is Testing and Weighing

The Treasury Department readout stated: “Secretary Yellen discussed the Biden-Harris Administration’s plans to support a continued strong economic recovery and the importance of cooperating on areas that are in U.S. interests, while at the same time frankly tackling issues of concern.”