Despite a difficult relationship between the United States and China, both countries are well aware that cutting ties entirely would be impossible. The world’s two largest economies are so interconnected that neither sanctions nor administrative barriers can drive them apart.
The recent visit of US Treasury Secretary Janet Yellen has once again proved that economic relations between China and the United States are quite strong. The trade war unleashed by former US President Donald Trump has never stopped but, as it turned out, it is not a reason for disconnecting trade relations. Moreover, it is easier said than done. Besides, an actual conflict of interests between the two states would damage markets worldwide. The Treasury Secretary stressed that a decoupling of the US and Chinese economies would be “virtually impossible.”
“We seek to diversify, not to decouple. A decoupling of the world's two largest economies would be destabilizing for the global economy,” Yellen said at a meeting with representatives of US businesses in Beijing.
In early July, Janet Yellen paid an official visit to China, seeking to improve communication between the two countries. During her trip to Beijing, the Treasury Secretary met with Chinese Premier Li Qiang, former Vice Premier Liu He, and former governor of the People's Bank of China Zhou Xiaochuan.
