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US economic approach to China must be ‘serious, clear-eyed’, Treasury Secretary Janet Yellen says
- While reiterating Washington seeks not to decouple from Beijing, treasury secretary outlines strategy to expand trade in the Indo-Pacific
- Ensuring national security and advancing human rights form pillar of US economic strategy on China, Yellen adds
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Bochen Hanin Washington
Washington needs a “serious, clear-eyed” economic approach to China as it seeks to expand trade and diversify supply chains across allies and partners, US Treasury Secretary Janet Yellen said on Thursday.
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Speaking at the Asia Society in Washington in a speech reviewing the White House’s economic strategy for the Indo-Pacific, Yellen reiterated that the US did not seek to decouple from China.
“We have no interest in such a divided world and its disastrous effects,” she said.
But Yellen stressed there would be no compromising America’s goals of ensuring national security and advancing human rights.
That formed one of three pillars of the American economic strategy on China. The other two goals, she said, were seeking a healthy, mutually beneficial relationship, including by tackling unfair trade practices, and collaborating on global challenges like climate change and debt distress in low-income countries.
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