Madam Secretary, dear colleagues, welcome to China.

Today Treasury Secretary Janet Yellen is in China for what is her second visit there in a year.

Thank you for welcoming me to China once again, this time in Guangzhou.

Yellen will be in China for nearly a week to meet with top officials and business leaders. The United States seeks a healthy economic relationship with China that benefits both sides.

Yellen has been one of the biggest proponents of US-China economic cooperation.

But on this trip, our colleague Andy Durin says she's bringing a different message.

Janie Allen isn't China to deliver a warning about what she's seeing in the Chinese economy.

She and the Biden administration are worried about how the Chinese are basically making too much stuff and

how the fact that they're making too much stuff could have negative consequences for the

U.S. economy and the world economy.

And so she is basically there to say stop making quite

so much stuff.

What are the stakes of this trip? What happens if she doesn't succeed?

So if she doesn't succeed, it means that in the United States and in other countries around the world,

we could see a new wave of protectionism to defend

against these Chinese goods on global markets.

Welcome to the journal, our show about money, business, and power. I'm Kate

Leimbaw. It's Friday, April 5th. Coming up on the show, the warning Janet Yellen is brought to you by Empower.

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