US-China relationship on ‘more stable footing,’ Yellen says [Video]

U.S. Treasury Secretary Janet Yellen met Sunday with Chinese Premier Li Qiang in Beijing and sent a message of mutual cooperation despite the nations’ differences.Yellen came to China with trade practices that put American companies and workers at an unfair competitive disadvantage at the top of her mind.Chinese government subsidies and other policy support have encouraged solar panel and EV makers in China to invest in factories, building far more production capacity than the domestic market can absorb.The massive scale of production has driven down costs and ignited price wars for green technologies. While that is a boon for consumers and efforts to reduce global dependence on fossil fuels, Western governments fear that that capacity will flood their markets with low-priced exports, threatening American and European jobs.In the ornate Fujian room of the Great Hall of the People building just west of Tiananmen Square, she told Li: “While we have …