G20 meeting: Yellen says ‘eager’ to work with China on debt, other global challenges

G20 meeting: Yellen says ‘eager’ to work with China on debt, other global challenges

US Treasury Secretary Janet Yellen said on Sunday she was “eager” to work with China on areas of mutual interest, including debt restructurings for poorer countries, and that multilateral develop-ment banks needed reforms before capital increases could be considered.

At a press conference before a meeting of Group of 20 finance ministers and central bankers in India, Yellen said her visit to Beijing last week helped put the US-China relationship on “surer footing” and that the world’s two biggest economies had an obligation to the world “to cooperate on areas of mutual concern.”

For the latest headlines, follow our Google News channel online or via the app.“There is much more work to do. But I believe this trip was an important start,” Yellen said. “I am eager to build on the groundwork that we laid in Beijing to mobilize further action.”

Concerns remain about China’s unfair trade practices, which prompted Washington to impose tariffs on Beijing. “They really have not been addressed,” she said.US corporations want to see an environment where they could “in-vest and thrive in China”, Yellen said.Washington will continue to cut off Russia’s access to military equipment and technologies that Moscow needs in the invasion of Ukraine, Yellen said.“One of