Yellen stresses ‘fair’ rules, communication in Beijing meetings

BEIJING, July 8 (Reuters) – The United States and China, the world’s two biggest economies, must compete fairly and communicate closely to avoid misunderstandings, U.S. Treasury Secretary Janet Yellen said in Beijing on Saturday. Yellen, continuing her meetings with top Chinese officials, told Vice Premier He Lifeng that a bilateral record for trade set last year despite recent tensions showed there is “ample room for our firms to engage in trade and investment”. But it was critical to keep talking about areas of common interest as well as disagreements, she said. Meeting her at the Diaoyutai state guest house, where…