Treasury Secretary Yellen will meet with China’s Vice Premier Liu He
Yellen's China meetings come after Biden and Xi’s Bali meeting last November
CFRA Research director Ken Leon says the consumer looks 'healthy' in 2023, but housing will see 'a severe recession.'
In hopes of strengthening communication between the U.S. and the People’s Republic of China, Treasury Secretary Janet Yellen will be in Zurich, Switzerland on Wednesday to meet with China's Vice Premier Liu He.
Despite three virtual meetings, the summit will be Yellen’s first in-person meeting with Liu He since taking office and will cover an exchange of views on macroeconomic developments and other economic issues.
Treasury secretary's upcoming meeting with Chinese official hopes to bridge communication gap while boosting economies. (Chinatopix via AP / AP Newsroom)
Yellen will then visit Africa
The Treasury secretary will also visit Africa this week to discuss the Biden administration’s plans to deepen economic ties with countries there by expanding trade and investment flow.
The Treasury Department announced on Monday that Yellen will travel to Senegal, Zambia and South Africa from Jan. 17 to 28, in hopes of building a stronger and more resilient economy on the continent that benefits their citizens, the U.S., and the entire world.
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Last month, at the U.S.-Africa Leaders Summit in Washington, D.C., President Biden announced over $15 billion in two-way trade and investment commitments, deals and partnerships.
According to the Treasury announcement, high-quality infrastructure investments will be funded through the Partnership for Global Infrastructure Investment to prevent and prepare for future pandemics through the new Pandemic Fund.
The Partnership for Global Infrastructure Investment will fund projects to combat future pandemics. (Reuters/Aly Song / Reuters Photos)
The partnership is expected to strengthen democracies and institutions against corruption, while helping African countries address debt vulnerabilities.
As part of Yellen's remarks on Jan. 24, she will discuss climate-resilient agriculture and food production. (iStock)
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