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Recently, China and the United States announced that they will hold bilateral meetings in a third country, and China's first minister, Wang Yi, will meet with US affairs assistant Jake Sullivan. The meeting is seen as the first high-level contact since the Sino-US summit and is expected to further promote the easing of Sino-US relations. As the world's two largest economies, the stability of the bilateral relationship between China and the United States is of great significance to the world. In the current global economic downturn, all countries expect China and the United States to return to the track of stability and jointly address global challenges.
In order to further strengthen exchanges and cooperation between China and the United States, Chinese Minister Wang Yi will visit Thailand from January 26 to 29 and meet with Sullivan in Bangkok. This is also the first offline high-level contact after the China-US summit, which is seen as a positive signal for China-US relations. The meeting will continue the consensus reached at the U.S.-China summit last November, including maintaining strategic communication and responsibly managing the bilateral relationship. The enhanced contacts and exchanges between China and the United States will further promote the steady development of bilateral relations. This is undoubtedly a positive signal for bilateral cooperation between China and the United States and for world peace and stability.
U.S. Treasury Secretary Janet Yellen recently publicly stated that the U.S. foreign debt has exceeded $34 trillion, which is a surprising figure. According to calculations by John James, a member of the U.S. House of Representatives, the average person in debt is $100,000 per person based on the total population of the United States. In addition, expert analysts believe that the United States may need to spend one-third of its budget revenues to repay this huge debt. The total amount of U.S. debt is rising and is close to the debt ceiling that the U.S. can afford. There is a widespread international consensus that the U.S. debt problem is becoming increasingly unsustainable. The three major international credit rating agencies have successively downgraded the U.S. sovereign credit rating from "stable" to "negative", further raising questions about the risks of the U.S. economy and will also greatly increase the financing cost of the U.S. **.
Yellen has always hoped that by pushing for a détente in U.S.-China relations, China will help the U.S. deal with its debt problems. She has repeatedly expressed her willingness not to seek "decoupling" from China, and stressed that the United States must maintain communication and deepen cooperation with China in order to make China-US relations more flexible. As early as December last year, Yellen publicly stated that she would visit China again as a U.S. leader in 2024. This public statement not only shows that Yellen has already planned to visit China, but also intends to attract the attention of Biden in the United States, hoping to resolve the debt crisis as soon as possible and arrange her visit to China.
The U.S.-China meeting and Yellen's planned visit to China are of great significance in the current world economic context. As the world's two largest economies, the relationship between China and the United States has an important impact on global economic development. The meeting and the planned visit to China show that China and the United States have strengthened contacts and exchanges and are willing to promote the stability of bilateral relations. This is undoubtedly a positive signal for Sino-US exchanges and cooperation in various fields and for world peace and stability.
However, the debt problem of the United States is becoming more and more severe, and the foreign debt continues to rise, which has brought tremendous pressure to the United States. Yellen's planned visit to China shows her urgent concern about the debt problem and her desire to enlist China's support. The United States** must resolve its debt problem as soon as possible to avoid creating greater economic risks. For the United States, China is an important partner and plays an important role in resolving the debt problem.
In short, the meeting between China and the United States and Yellen's planned visit to China are both important international topics at present. Strengthening China-US exchanges and cooperation and striving to promote the easing of China-US relations will help maintain world peace and stability and address global challenges. The United States should earnestly solve the debt problem, seek international cooperation and support, and jointly safeguard the healthy development of the global economy.
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