Hard to imagine progress in tackling global challenges unless US, China cooperate: Yellen

[ad_1]

Talking to the media ahead of a meeting with finance ministers of G20 countries at the Mahatma Mandir in Gandhinagar, Yellen said that the slowdown of the Chinese economy is very important from the point of view of the global economy, as China is a major importer for many countries around the world.

Gandhinagar. US Treasury Secretary Janet Yellen said on Sunday that serving the needs of the global economy is a shared responsibility of the US and China and unless the two countries cooperate, it is difficult to foresee any progress in tackling global challenges. Talking to the media ahead of a meeting with finance ministers of G20 countries at the Mahatma Mandir in Gandhinagar, Yellen said that the slowdown of the Chinese economy is very important from the point of view of the global economy, as China is a major importer for many countries around the world. “We have a shared obligation to address the needs of the global economy, in addition to expressing and discussing honestly and candidly the concerns that each of us has in the bilateral partnership in the relationship,” he said.

And indeed, unless the United States and China cooperate, it is difficult to imagine that progress can be made toward finding solutions to global challenges.” “We discussed debt and climate change specifically in that context,” the US Treasury Secretary said. Yellen said she had discussed the issue with her Chinese counterparts during her recent visit to China. He said Chinese leaders told him that the business environment here was open and friendly and that they wanted foreign investment in the country. Yellen said that the slowdown in the Chinese economy, along with exports, showed that consumer spending did not increase as much as had been expected after the country’s end of the lockdown implemented to prevent Kovid-19.

He said, “Of course it is important for the global economy, because China is a major importer for many countries around the world. In such a situation, the slowdown in the Chinese economy can affect the growth rate of many countries and you all have seen this happening. The US Treasury Secretary said, “He is certainly keen to convey that the business environment in China is open and friendly and that he would like to see more foreign investment coming into the country. I also met with American entrepreneurs who are interested in getting permission to invest in China.

Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *