The Biden administration officials are expected to discuss ways to maintain economic and financial stability, capital markets, and efforts to curb the flow of fentanyl into the United States during the high-level meetings in Shanghai.
The economic relationship between the United States and China, though improved in communication, remains tense due to disagreements over industrial policy and China's dominance over green energy technology.
The U.S. imposed tariffs on various Chinese imports, restricted American investments in Chinese sectors threatening national security, and aims to enhance communication during financial stress through the U.S.-China Financial Working Group.
Treasury Secretary Janet Yellen and U.S. officials aim to address financial stability, cross-border data, lending, payments, and transition finance in talks with Chinese officials, including the People's Bank of China deputy governor.
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