Yellen To Meet Vice Premier Hi Lifeng Tomorrow

Reuters reporting that US Treasury Secretary Janet Yellen will meet with Chinese Vice Premier Hi Lifeng on Saturday as she continues her four-day trip to China.

• A senior Treasury Department official said the US sees climate finance as an area where cooperation with China is, "distinctly possible."
• Yellen told Chinese Premier Li Qiang today, “We seek healthy economic competition that is not winner-take-all but that, with a fair set of rules, can benefit both countries over time.”
• Yellen told Li that the United States may need to pursue "targeted actions to protect its national security," but the two countries shouldn't allow disagreements to "unnecessarily worsen our bilateral economic and financial relationship.”
• The Financial Times reported this morning, “Yellen’s team has not confirmed whether she will see Liu Kun, the new finance minister, or Pan Gongsheng, the incoming head of China’s central bank.”
• China expert, Scott Kennedy, told FT, “Yellen does not know her counterparts who oversee Chinese economic policy. Although all big decisions flow through Xi Jinping, these individuals and their bureaucracies still matter... The world will be watching carefully for any signs of progress or continued deadlock.”