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Yellen’s China trip yields long meetings, but does not reach consensus

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U.S. Treasury Secretary Janet Yellen has concluded her four-day visit to Beijing, describing her meetings with senior Chinese officials as “direct” and “productive”

 
Despite the existing disagreements between the United States and China on various issues such as national security concerns, export bans, and industrial policies, Yellen expressed confidence that her trip has helped stabilise the often turbulent relationship between the two superpowers.

The visit comes as the United States seeks to mend ties with China, considering the strained bilateral relations over recent years.

“The U.S. and China have significant disagreements,” Yellen told a press conference at the U.S. embassy in Beijing, citing Washington’s concerns about what she called “unfair economic practices” and recent punitive actions against U.S. firms.

“But President (Joe) Biden and I do not see the relationship between the U.S. and China through the frame of great power conflict. We believe that the world is big enough for both of our countries to thrive.”

The Biden administration hopes to arrange a meeting between President Joe Biden and Chinese President Xi Jinping, possibly at the upcoming Group of 20 summit in New Delhi or the Asia-Pacific Economic Cooperation gathering in San Francisco scheduled for November.

Yellen’s primary objective during her visit was to establish stronger ties with China’s new economic team, minimise the risk of misunderstandings, and facilitate cooperation in areas such as climate change and debt distress.

While the trip did not yield specific policy breakthroughs, a senior Treasury official described it as “very successful” in terms of re-establishing contact and building relationships.

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Trump & Biden prepare for the earliest debate in modern U.S. history

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The first debate of the year between President Joe Biden and former president Donald Trump will take place this week in Atlanta.

This debate marks a milestone as the earliest presidential debate in modern U.S. history, and will prove to be a critical event for both candidates.

Joe Biden and Donald Trump are neck-and-neck in national opinion polls, with a considerable slice of the electorate still undecided five months before the Nov. 5 vote. #featured #trending

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Ferrari’s debut high-performance electric vehicle will be priced above $500,000

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Ferrari has unveiled details about its inaugural electric car, slated to be priced upwards of $500,000, as first reported by Reuters.

This announcement comes amidst growing global interest and competition in electric vehicles, with Ferrari aiming to blend its iconic design prowess with sustainable technology.

The Italian automaker, renowned for its high-performance sports cars, is expected to maintain its commitment to superior craftsmanship and engineering excellence in its electric offering.

Following the EV announcement, Ferrari also confirmed plans to establish a new manufacturing plant aimed at enhancing production flexibility and significantly reducing car development times.

Mike Costello from Cox Automotive joins to discuss the latest in EVs. #featured #trending

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Commercial real estate targeted for producing 40% of global emissions

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Commercial real estate contributes significantly to global emissions, with reports suggesting it makes up to 40% of the total – so is there a solution in sight?

Global strategies are setting out to transform this impact by promoting the development of sustainable buildings.

As climate change continues to be a pressing global issue, the commercial real estate sector must pivot towards more eco-friendly solutions.

One of the most impactful actions that can be taken to mitigate the environmental impact of commercial real estate is the implementation of building automation systems.

Louise Monger, Vice President, Digital Buildings of Schneider Electric, joins to share her key insights into the issue. #featured

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