U.S. Treasury Secretary Janet L. Yellen is slated to fly to China on Wednesday in an effort to try to stabilize frayed relations with Beijing, the Treasury Department announced over the weekend.
The trip will constitute Yellen’s first to China as treasury secretary and comes on the heels of that of Secretary of State Antony J. Blinken’s visit last month.
Tensions between the world’s two largest economies have flared since the discovery of a Chinese spy balloon in the United States earlier this year and a surge in anti-Chinese rhetoric from the Joe Biden administration.
Sources close to the Treasury Department said that the key focused of visit will be current uncertainty over the global economy as inflation remains uncontained and a possible recession looms.
