Berliner Boersenzeitung - Yellen urges 'direct' talks, US-China climate collaboration

EUR -
AED 4.31222
AFN 81.610467
ALL 97.926788
AMD 450.678394
ANG 2.10136
AOA 1076.733652
ARS 1470.683715
AUD 1.796043
AWG 2.113545
AZN 1.970703
BAM 1.962287
BBD 2.370637
BDT 143.123136
BGN 1.959133
BHD 0.442591
BIF 3453.2976
BMD 1.174192
BND 1.504072
BOB 8.112819
BRL 6.556453
BSD 1.174382
BTN 100.566452
BWP 15.686858
BYN 3.842402
BYR 23014.156053
BZD 2.358396
CAD 1.607005
CDF 3388.717147
CHF 0.930447
CLF 0.029051
CLP 1114.82449
CNY 8.430989
CNH 8.432522
COP 4724.066497
CRC 592.157551
CUC 1.174192
CUP 31.116078
CVE 110.961364
CZK 24.646464
DJF 208.67735
DKK 7.46136
DOP 70.627298
DZD 152.323179
EGP 58.244131
ERN 17.612875
ETB 159.810659
FJD 2.638115
FKP 0.865106
GBP 0.863289
GEL 3.18274
GGP 0.865106
GHS 12.208336
GIP 0.865106
GMD 83.954391
GNF 10163.803033
GTQ 9.023831
GYD 245.531677
HKD 9.217234
HNL 30.940601
HRK 7.539599
HTG 154.099421
HUF 399.60031
IDR 19078.265691
ILS 3.901903
IMP 0.865106
INR 100.638732
IQD 1538.191042
IRR 49462.822344
ISK 143.380424
JEP 0.865106
JMD 187.690466
JOD 0.832482
JPY 171.453701
KES 152.020478
KGS 102.683116
KHR 4721.424736
KMF 494.334346
KPW 1056.746656
KRW 1610.814848
KWD 0.358516
KYD 0.978435
KZT 608.882841
LAK 25292.0883
LBP 105207.570841
LKR 352.976869
LRD 235.427965
LSL 20.888985
LTL 3.467083
LVL 0.710257
LYD 6.3409
MAD 10.573555
MDL 19.900788
MGA 5201.66942
MKD 61.602502
MMK 2465.224011
MNT 4213.656146
MOP 9.493483
MRU 46.621244
MUR 53.179002
MVR 18.085411
MWK 2038.985326
MXN 21.854325
MYR 4.984417
MZN 75.101526
NAD 20.888351
NGN 1800.751839
NIO 43.151831
NOK 11.835616
NPR 160.905922
NZD 1.956773
OMR 0.451475
PAB 1.174081
PEN 4.161926
PGK 4.85884
PHP 66.453401
PKR 333.764196
PLN 4.24306
PYG 9100.082997
QAR 4.274765
RON 5.076851
RSD 117.152592
RUB 91.8245
RWF 1683.790805
SAR 4.404026
SBD 9.789147
SCR 16.569009
SDG 705.035344
SEK 11.146371
SGD 1.502173
SHP 0.92273
SLE 26.426815
SLL 24622.2158
SOS 671.048817
SRD 43.739222
STD 24303.396168
SVC 10.27296
SYP 15266.992119
SZL 20.889157
THB 38.302167
TJS 11.359452
TMT 4.121413
TND 3.40881
TOP 2.750072
TRY 47.039407
TTD 7.972355
TWD 34.310701
TZS 3085.2346
UAH 49.075333
UGX 4214.933701
USD 1.174192
UYU 47.497015
UZS 14906.362385
VES 131.847391
VND 30692.195157
VUV 140.085669
WST 3.232974
XAF 658.132651
XAG 0.032269
XAU 0.000354
XCD 3.173312
XDR 0.817336
XOF 655.786187
XPF 119.331742
YER 283.978432
ZAR 20.912899
ZMK 10569.127304
ZMW 28.560415
ZWL 378.089228
  • CMSC

    0.0900

    22.314

    +0.4%

  • CMSD

    0.0250

    22.285

    +0.11%

  • RBGPF

    0.0000

    69.04

    0%

  • SCS

    0.0400

    10.74

    +0.37%

  • RELX

    0.0300

    53

    +0.06%

  • RIO

    -0.1400

    59.33

    -0.24%

  • GSK

    0.1300

    41.45

    +0.31%

  • NGG

    0.2700

    71.48

    +0.38%

  • BP

    0.1750

    30.4

    +0.58%

  • BTI

    0.7150

    48.215

    +1.48%

  • BCC

    0.7900

    91.02

    +0.87%

  • JRI

    0.0200

    13.13

    +0.15%

  • VOD

    0.0100

    9.85

    +0.1%

  • BCE

    -0.0600

    22.445

    -0.27%

  • RYCEF

    0.1000

    12

    +0.83%

  • AZN

    -0.1200

    73.71

    -0.16%

Yellen urges 'direct' talks, US-China climate collaboration
Yellen urges 'direct' talks, US-China climate collaboration / Photo: Pedro PARDO, Pedro Pardo - POOL/AFP

Yellen urges 'direct' talks, US-China climate collaboration

Washington and Beijing should communicate "directly" on concerns about specific economic practices, US Treasury Secretary Janet Yellen said Saturday, urging greater cooperation between the two biggest economies despite fraught ties.

Text size:

Yellen is on a four-day trip to Beijing, as the United States seeks to cool tensions and stress areas of collaboration between the world's two largest economies.

And in a meeting Saturday with Vice Premier He Lifeng she pointed to record bilateral trade last year as proof of just how intertwined they are.

"There is ample room for our firms to engage in trade and investment," she told He at the Diaoyutai state guesthouse.

"Where we have concerns about specific economic practices, we should and will communicate them directly."

Yellen has been keen throughout her visit to emphasis areas where the two powers need to work to together -- while defending US moves to "de-risk" its economy from China as well as what Washington sees as unfair treatment of American businesses.

On Saturday she told a roundtable of experts in China that collaboration between the two powers in climate financing was "critical".

"As the world's two largest emitters of greenhouse gases and the largest investors in renewable energy, we have both a joint responsibility –- and ability -– to lead the way," Yellen said.

"Climate change is at the top of the list of global challenges, and the United States and China must work together to address this existential threat," she added.

Saying that "climate finance should be targeted efficiently and effectively", she pressed China to support existing multilateral institutions like the Green Climate Fund, while urging for the inclusion of the private sector in transitioning towards net zero emissions.

"Both our economies seek to support partners in emerging markets and developing countries as they strive to meet their climate goals, and I believe continued US-China cooperation on climate finance is critical."

China last year briefly said it was suspending talks on the climate after Nancy Pelosi, then-speaker of the House of Representatives, visited Taiwan -- the self-ruled democracy claimed by Beijing.

But there are signs talks could restart soon, with US envoy John Kerry due to travel to China to discuss cooperation on climate change, a US official said Friday.

Besides working together on climate, Yellen said in a Friday meeting with Chinese Premier Li Qiang that it was also key for Washington and Beijing to closely communicate on global economic and financial affairs -- while making joint efforts on international challenges such as debt distress.

- 'Big ticket items' -

The Treasury chief's high-level meeting with Premier Li likely "set the tone" for the rest of her visit, said Lyu Xiang, a Sino-US relations expert at the Chinese Academy of Social Sciences.

On Saturday, besides meeting people involved in climate finance, Yellen also spoke with women economists, stressing that the US-China relationship was "rooted in the solid ties" between the American and Chinese people.

"It is important that we keep nurturing and deepening these ties," especially as China reopens its economy after pandemic-related lockdowns, she said, adding that the US may have differences with the Chinese government, but not with its people.

Yellen Saturday is likely aiming to drill down into more specific issues, ranging from the macroeconomy to trade and technology exports, Lyu told AFP.

But a key question is whether "big ticket items that are in the category of global challenges", like debt distress and climate cooperation, get bumped to the top of the agenda, said Lindsay Gorman, senior fellow for emerging technologies at the German Marshall Fund of the United States.

Yellen's talks on Saturday follow meetings with US businesses, which have expressed a host of concerns ranging from level playing fields with the Chinese to reduced people-to-people exchanges and an uncertain business climate in the face of a national security crackdown.

"Anything that can help make the US-China relationship better, number one, will help the companies here, the investment sentiment, and two, just give us more opportunity to cooperate," Michael Hart, president of the American Chamber of Commerce in China, told AFP.

(O.Joost--BBZ)