Yellen seeks stability in first meeting with China

NUSA DUA, Indonesia: US Treasury Secretary Janet Yellen yesterday sought to stabilise ties between the world's two largest economies as she held her first in-person meeting with a senior Chinese official.

Yellen met Yi Gang, governor of the central People's Bank of China, at the Group of 20 summit in Bali, where two days earlier US President Joe Biden and Chinese counterpart Xi Jinping met for three hours in a bid to tame high tensions.

Yellen and Yi “discussed global macroeconomic and financial developments, including the challenges of high and volatile energy and commodity prices, and exchanged views on the macroeconomic outlook in the United States and China,” the Treasury Department said.