In a speech at the Johns Hopkins School of Advanced International Studies, US Treasury Secretary Janet Yellen outlined her vision for the economic relationship between the United States and China. She emphasized the need for “healthy economic competition” while addressing national security risks and protecting human rights. Yellen acknowledged the economic interdependence between the two countries and called for cooperation on global issues like climate change and debt relief for low-income nations. However, she also criticized China’s “undercutting of American economic interests” through unfair trade practices, intellectual property theft, and forced technology transfers. Yellen advocated for diversifying supply chains and reducing risks to critical sectors like semiconductors. She stressed the importance of working with allies to create a “level playing field” and upholding democratic values. Overall, Yellen’s speech signaled a nuanced approach balancing economic cooperation and competition with China.
Source: https://www.cnn.com/2024/04/04/business/yellen-us-china-economic-relations-hnk-intl/index.html