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US commerce secretary meets China envoy earlier than journey to stabilise ties | Worldwide Commerce

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Gina Raimondo’s August 27-30 journey is newest effort by the Biden administration to chill US-China tensions.

US Commerce Secretary Gina Raimondo has held “productive” talks with Chinese language Ambassador Xie Feng prematurely of a China journey geared toward cooling tensions between the world’s two largest economies.

Raimondo is because of go to Beijing and Shanghai subsequent week for talks on financial points, together with “challenges confronted by US companies” and areas for cooperation, the Division of Commerce mentioned in an announcement on Tuesday.

The August 27-30 go to comes as Washington is looking for to stabilise US-China relations, which have soured amid disputes over a number of points, together with nationwide safety, the struggle in Ukraine, commerce and the standing of Taiwan.

In an announcement launched by the Chinese language embassy in Washington, DC, Xie mentioned Beijing’s coverage is predicated on “mutual respect, peaceable coexistence and win-win cooperation”.

“Immediately’s world is chaotic and intertwined, the worldwide financial restoration is weak, and a number of crises are rising one after one other,” Xie was quoted as saying.

Raimondo’s journey comes after US President Joe Biden and Chinese language President Xi Jinping agreed on the G20 summit in Bali final 12 months to “deepen communication” between their nations after years of plummeting ties.

US Treasury Secretary Janet Yellen, Secretary of State Antony Blinken, and local weather envoy John Kerry have all made visits to China in latest weeks in an effort to shore up relations between the edges.

Washington has slapped a number of restrictions on Chinese language commerce and business over alleged nationwide safety issues, which Beijing argues are a pretext to thwart the nation’s financial rise.

Within the newest measures aimed on the Chinese language financial system, Biden earlier this month signed an govt order limiting US corporations from investing in sure areas of China’s tech sector, together with superior pc chips and synthetic intelligence.

Beijing condemned the curbs as being “anti-globalisation” and has promised to take mandatory countermeasures in response.

On Tuesday, White Home Nationwide Safety Advisor Jake Sullivan dismissed accusations that the Biden administration sought to stifle China’s financial development and mentioned Washington goals to “de-risk”.

“A steady Chinese language financial system is an efficient factor for the world,” Sullivan mentioned.

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