US Treasury Secretary Janet Yellen and her team set to leav China to the United States after trying to tackle the major questions of the day between the countries.

US Treasury Secretary Janet Yellen and her team are leaving China and returning to the United States after trying to tackle the major questions of the day between the countries.

Yellen said she wanted to go into the US-China talks to address a major complaint of the administration of US President Joe Biden that Beijing’s economic model and trade practices put US companies and workers at an unfair competitive disadvantage by producing highly subsidised solar products, electric vehicles and lithium-ion batteries at a loss, dominating the global market.

Chinese government subsidies and other policy support have encouraged solar panel and electric vehicle (EV) makers in China to invest in factories, building far more production capacity than the domestic market can absorb.

Throughout the week of meetings, she talked about the risks that come from one nation maintaining nearly all production capacity in these industries, the threat it poses to other nations’ industries and how a massive rapid increase in exports from one country can have big impacts on the global economy.

Ultimately, the two sides agreed to hold intensive exchanges on more balanced economic growth, according to a US statement issued after Yellen and Chinese Vice Premier He Lifeng held extended meetings over two days in the southern city of Guangzhou.

It was not immediately clear when and where these exchanges would take place.