![]() But healthy economic competition - where both sides benefit - is only sustainable if that competition is fair. "Both countries can benefit from healthy competition in the economic sphere. She said "a growing China that plays by international rules" is good for the United States and the world. This dual focus on security does not provide an off-ramp for conflict escalation! - Stephen Roach April 20, 2023īut Yellen said a full economic split between China and the U.S. Xi Jinping did the same in the 20th CCP Congress last Oct. Yellen puts highest priority on national security in laying out guiding principles for the US-China relationship. Even as our targeted actions may have economic impacts, they are motivated solely by our concerns about our security and values." "We will not hesitate to defend our vital interests. ![]() "First, we will secure our national security interests and those of our allies and partners, and we will protect human rights," Yellen said. The remarks on China come at a time of deep tension and growing mistrust between Washington and Beijing, and are largely in line with broader Biden administration policies toward China - which the Chinese government has chafed at. In a speech at Johns Hopkins University's School of Advanced International Studies in Washington, Yellen said the United States seeks a healthy economic relationship with China and needs to cooperate with it in key areas like debt overhang and climate change. Treasury Secretary Janet Yellen said on Thursday national security comes first even if it has an impact on the economic relationship with China, and "targeted actions" that Washington takes to protect its interests are not meant to give the United States a competitive economic advantage over China. Treasury Secretary Janet Yellen speaks on the U.S.-China economic relationship at Johns Hopkins University School of Advanced International Studies, Thursday, in Washington.
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