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A US delegation made up of officials from the Treasury and Federal Reserve Board, led by Treasury Undersecretary for International Affairs Jay Shambaugh, is to meet with Chinese counterparts in Beijing on Thursday and Friday. Reportedly, during the talks of the Economic Working Group, the US side is expected to lay out its concerns about China's economic trajectory and industrial "overcapacity". "During our trip we will further our discussions on China's macroeconomic imbalances and industrial policies that risk causing significant harm to workers and firms in the US and around the world," Shambaugh said. Beijing insists that the Chinese economy remains fit and resilient, and rejects the overcapacity allegation. That being said, the discussions carried out under the Economic Working Group mechanism might become another chicken-and-duck talk. The United States' long blacklist of Chinese entities, the exorbitant tariffs it has imposed on Chinese exports, as high as 100 percent on electri
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