The Chinese Ministry of Finance called for sanity and emphasized that no one will win from a trade war or a decoupling between the two main powers on the planet.

It called on the US side to create a favorable environment for the healthy development of the economic-commercial relationship and encourage mutually beneficial collaboration with concrete actions, and recalled the precise instructions of the presidents of each country to strengthen communication and advance on fiscal and financial issues.

The Ministry issued its statement as a preamble to the meetings that Yellen will hold with her counterparts and various Chinese leaders between Friday and Sunday.

The Secretary of the Treasury arrived in China on Thursday on an official visit, aimed at stabilizing economic-commercial relations at a time tensed by new disagreements between the United States and China.

The White House announced that the meetings will address issues of global macroeconomics and financial developments.

An official in Yellen’s office said under anonymity that the Secretary of the Treasury plans to voice the United States’ position in favor of a fair economic competition, defend restrictions adopted under the banner of national security and raise concerns about Beijing’s export controls of raw material to manufacture semiconductors.

Yellen expressed the hope of achieving a reestablishment of contacts during her stay in China, although there are no expectations about the outcome of the meetings, since she arrived just when both powers are newly in disagreement over the approved arms sale to Taiwan, the alert issued in the United States after the entry into force of the anti-espionage law in China, and Beijing’s controls on gallium and germanium that Washington plans to challenge.

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