Finance ministers of U.S. and China to meet in Switzerland

U.S. Treasury Secretary Janet Yellen will meet with her Chinese counterpart, Vice Premier Liu He, in Switzerland on Wednesday for the first time. Amid rising concerns over the grim outlook for the global economy, the world is counting on meeting the finance ministers of the world’s two largest economies, where they will seek cooperation despite the strained bilateral relations.

The U.S. Treasury Department announced that Secretary Yellen would meet Vice Premier Liu on her way to Africa via Switzerland. The Treasury Department stated that the two leaders will discuss global economic challenges and macroeconomic environments. The two countries have had three video conferences, but this will be the first in-person meeting between the two.

Yellen’s meeting with Liu, which will be conducted right before she visits Africa, where China bombards with economic assistance, has taken many by surprise. Liu, who is currently attending the World Economic Forum, will travel to Zurich after his speech and meet with Yellen.


Hyoun-Soo Kim kimhs@donga.com