US treasury secretary is in China to talk trade, anti-money laundering and Chinese ‘overproduction’ [Video]

JOINT BASE ELMENDORF-RICHARDSON, Alaska – Treasury Secretary Janet Yellen arrived in China on Thursday for five days of meetings in a nation determined to avoid open conflict with the United States, yet the world’s two largest economies still appear to be hashing out the rules on how to compete against each other.

There are tensions over Chinese government support for the manufacturing of electric vehicles and solar panels, just as the U.S. government ramps up its own aid for those tech sectors. There are differences in trade, ownership of TikTok, access to computer chips and national security — all of them a risk to what has become a carefully managed relationship.

The 77-year-old Yellen, a renowned economist and former Federal Reserve chair, laid out to reporters the issues that she intends to raise with her Chinese counterparts during her five-day visit. Yellen begins her trip in Guangzhou and later moves to Beijing for meetings with finance leaders and state …