U.S. and China Continue to Talk, but Economic Divide Remains Wide

News Snapshot:

When Treasury Secretary Janet L. Yellen traveled to Beijing last summer, her mission was to re-establish a dialogue between the world’s largest economies and stabilize a relationship that appeared to have reached rock bottom. The United States and China created formal economic working groups to keep the conversation going. Months later, Ms. Yellen met with her Chinese counterparts in San Francisco and Morocco. And the Treasury secretary’s consumption of a dish made with psychedelic “magic” mushrooms at a Yunnan-style restaurant in Beijing sparked something of a culinary craze in China, where Ms. Yellen is popular for being an acclaimed economist....