Yellen to meet with Chinese FM

Washington: Treasury Secretary Janet Yellen will meet with her Chinese counterpart, Vice Premier Liu He, in Switzerland on Wednesday to discuss economic developments between the two nations.

The Zurich talks will be a follow-up to the November meeting between President Joe Biden and China’s Xi Jinping on the sidelines of the Group of 20 summit in Bali, Indonesia.

The two world leaders agreed to empower key senior officials to maintain communication.

Strains between the world’s two leading economies have been growing despite their trade ties.

The Biden administration has blocked the sale of advanced computer chips to China and is considering a ban on investment in some Chinese tech companies, possibly undermining a key economic goal that Xi set for his country.