BRICS: US & China Meet to Discuss Economic Issues

Joshua Ramos
Source: iStock

As the BRICS alliance has fully embraced its de-dollarization plans, the US and China have met to discuss ongoing economic issues. Indeed, the United States Treasury Secretary Janet Yellen has traveled to China to discuss “issues of concern” between the two countries as it heads to an election year.

Yellen had met with Vice Premiere He Lifeng where she noted that it “remains crucial” for the countries to continue communication, according to a Yahoo report. Additionally, the Treasury Secretary identified concerning developments “such as overcapacity and national security-related economic actions.”

Janet Yellen
Source: Reuters

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US and China Meet to Engage on Economic Concerns Between the Nations

The global economic landscape has undergone a massive shift over the last two years. Throughout that time the United States has struggled to maintain its status in the finance sector, with several countries opting to diversify their holdings away from the US dollar.

This has been primarily seen in the BRICS bloc and has led the US to meet with China to discuss economic issues. Specifically, the United States sent its treasury secretary Janet Yellen to speak with China regarding some ongoing economic concerns between the two powerhouses.

“It is what the world and our citizens expect,” Yellen told China’s head of the Central Commission for Financial and Economic Affairs. Moreover, she discussed her meetings with Chinese officials. Specifically, she labeled them as “frank and substantive conversations on our bilateral economic relations” in a post to X (formerly Twitter).

Also Read: Analyst Calls BRICS a ‘Superpower’

Additionally, Yellen said, “It is crucial that the two largest economies in the world seek progress on global challenges and closely communicate areas of concern.” Additionally, Yellen said that “a healthy economic relationship must provide a level playing field” for operators in both countries.

The two sides have seen relations begin to wear amid China’s increased participation in the BRICS alliance. It is no secret that the collective has increasingly sought increased de-dollarization initiatives.

Amid Russian sanctions, China stood as a nation seeking to defend itself from such actions being taken. Specifically, through its promotion of local currencies and increased gold acquisition.