Yellen and Chinese vice premier agree on not decoupling economies

Treasury secretary talks with Beijing's economy chief ahead of Biden-Xi meet

20231110N Yellen

U.S. Treasury Secretary Janet Yellen speaks at a news conference after a meeting with Chinese Vice Premier He Lifeng in San Francisco on Nov. 10. © Reuters

YIFAN YU, Nikkei staff writer

SAN FRANCISCO -- U.S. Treasury Secretary Janet Yellen and Chinese Vice Premier He Lifeng agreed in two days of meetings here that they do not seek to decouple their economies, laying the groundwork for the upcoming summit between their countries' presidents.

"We do not seek to decouple our economy from China's," Yellen told a news conference Friday after concluding her meeting with He. "This would be damaging to both the U.S. and China and destabilizing for the world."

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