US Treasury Secretary Janet Yellen reported that the finance ministers of the Asia-Pacific Economic Cooperation (APEC) bloc discussed the slower pace of China’s economic growth and the risks that accompany that trend. The remarks came during a press conference held after the APEC finance ministers meeting in San Francisco, with official commentary attributed to Yellen and published by RIA News. The dialogue among treasury chiefs highlighted shared concerns about how shifts in China’s trajectory could influence forecast accuracy and the broader regional outlook. Officials emphasized that a downward revision to economic projections would not only affect the United States but also many APEC economies that are interconnected through trade, finance, and investment channels. This underlines a common recognition of how China’s performance factors into the global recovery and regional stability, according to summaries provided by Reuters.
In Yellen’s account, the discussions centered on the potential spillovers from China’s slowdown and the importance of maintaining vigilance over forecast risk. Treasury heads agreed that even modest pulls in China’s growth could ripple through supply chains, commodity markets, and exchange-rate dynamics, complicating policy planning for partners across the Asia-Pacific region. The consensus signals a practice of cross-border prudence, with finance ministers underscoring the need for resilient macroeconomic frameworks and careful coordination on fiscal and monetary tools to cushion any adverse effects. These reflections come as countries weigh the consequences of China’s trend lines for domestic demand, investment cycles, and regional financial stability, with ongoing discussions highlighted by official briefings in San Francisco.
Earlier forecasts for APEC member economies had suggested a slower expansion pace in 2023, with growth expected to remain below the global average. Analysts cited several contributing factors, including the higher interest-rate environment in the United States, a tepid recovery in China, and ongoing trade frictions between major economies. The evolving picture has kept policymakers vigilant, especially in economies that rely on Chinese demand or on supply networks that intersect with Chinese manufacturing and technology sectors. The dialogue at the APEC gathering has been framed as a call for calibrated policy responses, increased transparency, and a concerted effort to diversify risk in the face of external headwinds.
In other remarks, a senior figure in the field of international diplomacy previously characterized Russia and China as presenting the most significant challenges to the existing international order. The assessment, reported in various outlets, underscores the broader geopolitical context in which economic decisions are made and the potential for strategic risks to surface in financial markets and trade. Policy circles in North America and across the Asia-Pacific region continue to monitor these developments, recognizing that shifts in one large economy can reverberate through regional partnerships, investment prospects, and long-term growth trajectories. The framing of these issues during the San Francisco meetings reflects an emphasis on stability, resilience, and prudent policy planning amid an evolving global environment.