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Yellen to meet Chinese Finance Minister in Switzerland


The meeting comes ahead of Yellen’s trip to Senegal, Zambia and South Africa this week in what will be the first of a series of visits by Biden administration officials to sub-Saharan Africa over the year.

Africa is crucial to the global economy due to its rapidly growing population and significant natural resources. China’s deepening economic entrenchment in African nations, overtaking the United States in trade with the continent to become one of the world’s largest creditors, is also a motivation for the United States to deepen their ties with African nations.

Yellen has spoken at length publicly about China’s funding practices on the mainland, calling them “economic practices that have put us all at a disadvantage.”

She also explicitly called on China to end its relations with Russia as the Kremlin continues its invasion of Ukraine. The United States and its European and Asian allies have imposed sanctions and an oil price cap on Russia in retaliation for the war, putting China in a difficult situation because it had promised “limitless” friendship with Russia. before the start of the invasion.

It will be Yellen’s first in-person meeting with Liu since taking office and follows three virtual meetings between them.

politico Gt

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