At the start of the meeting with Chinese Vice Premier Liu He met in Zurich on Wednesday, US  Treasury Secretary Janet Yellen said that she planned to address issues of concern in their first in-person meeting, but said both countries needed to manage "our differences and prevent competition from becoming anything ever near conflict."

"While we have areas of disagreement, and we will convey them directly, we should not allow misunderstandings, particularly those stemming from a lack of communication, to unnecessarily worsen our bilateral economic and financial relationship," Yellen added.

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