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US Treasury Secretary Janet Yellen opened her week-long trip to China by calling on Beijing to address the nation’s “industrial overcapacity”. Yellen arrived on April 4, 2024, in the southern city of Guangzhou and will also make a stop in the capital Beijing during her trip aimed at helping manage trade relations between the world’s two largest economies. Industrial overcapacity, global financial stability and “unfair trade practices” will be among the top issues to be discussed during her visit. It follows a phone call between Chinese President Xi Jinping and US President Joe Biden on a wide range of issues, including US technology curbs and Chinese trade barriers. Yellen held talks with Guangdong Governor Wang Weizhong on April 5, 2024, and spoke at a business event organised by the American Chamber of Commerce in China in Guangzhou.
