According to reports, Yellen plans to visit China again next year and hopes to have in-depth discussions and cooperation with China on some key issues. She said that she will come to the door with some questions that plague both sides, and looks forward to getting answers and suggestions from China. Specifically, Yellen is concerned about China's challenges in local debt and the real estate market, as well as China's plans to deal with the weakness of economic surprises. She believes that the answers to these questions are crucial for U.S. policymakers.
However, Yellen's statement raised concerns about the integrity of the United States. In the past, the top leaders of the United States had also expressed many good words and promises during their visits to China, but after returning to China, they acted the opposite and took a series of actions against China. This calls into question the true intentions and reliability of the United States. In addition, there have been working groups between China and the United States in the economic field, but the results have not been satisfactory. U.S. Representative Tai Qi once asked WTO Director-General Iweala for China's reforms shortly after China set up a working group, which further strained Sino-US relations. Therefore, in order to maintain effective communication between China and the United States, it is not enough to establish a working group, and more importantly, the United States should abandon the essence of the struggle against China.
The United States is currently facing a fiscal deficit, and in order to fill the fiscal gap, they have had to raise funds through the issuance of Treasury bonds. However, the size of the US national debt has already exceeded $32 trillion, and this figure far exceeds their GDP. In order to maintain the stability of the domestic economy, the United States needs to find a way to solve its fiscal problems. Considering that China is the world's second-largest economy and has huge foreign exchange reserves, the United States is trying to solve its own financial woes by cooperating with China. However, China has not given the United States more preferences, which has forced the United States to seek assistance from other allies. However, this situation is only temporary, and the United States will eventually return to China in the hope of finding a cooperative solution.
The Chinese side has a certain degree of vigilance against the US practice of harming China's national interests on the one hand and hoping to engage and meet with China on the other. Recently, U.S. actions in the South China Sea have caused dissatisfaction with the Chinese side. The Chinese side pointed out that the actions taken by the Chinese Coast Guard in the waters near Second Thomas Shoal were lawful and necessary, while the United States made groundless accusations against the Chinese side and used them to threaten the security of the South China Sea. Chinese spokesperson Mao Ning said that China firmly opposes the wrong support of the United States for the Philippines, while stressing that China will continue to safeguard its legitimate rights and interests.
Yellen hopes to visit China again next year and discuss and cooperate on a number of key issues. However, the actions of the United States in the past have not been in line with their statements, which has raised questions about the credibility of the United States. In addition, cooperation between China and the United States also faces many difficulties and challenges. The current state of the U.S. economy has led them to become dependent on China and want to work with China to solve their own financial problems. However, China remains skeptical about the U.S. response, expressing outrage at U.S. actions in the South China Sea and emphasizing that it will continue to defend its legitimate rights and interests.