WASHINGTON – Treasury Secretary Janet L. Yellen on Thursday called for a “constructive” and “healthy” economic relationship between the United States and China, in which the two countries work together to face challenges such as change or the climate.
The comments of Ms. Yellen, who was awarded by Johns Hopkins University’s School of Advanced International Studies, struck a positive tone about US-China relations after months of rising tensions between the world’s two largest economies.
Ms. emphasized. Yellen emphasized the importance of ensuring the interests of American national security, as well as the protection of human rights. He also emphasized that the targeted actions taken by the United States against China – such as cutting it off from the world’s most advanced semiconductors – are only aimed at protecting US national security.
China has criticized the US restrictions on its technological development, saying they are illegal and a blatant effort to try and weaken China’s economy. Ms. Yellen eased those concerns.
“These national security actions are not designed for us to gain a competitive economic advantage, or prevent China’s economic and technological modernization,” said Ms. Yellen. “Although these policies may have economic effects, they are driven by straightforward national security considerations.”
He also emphasized the strength of the American economy, saying that the economic output of the United States remains greater than that of China.
Relations between the two countries have been strained recently, including a diplomatic blowout in February after a Chinese spy balloon flew over the United States before being shot down over the Atlantic Ocean. Republicans as well as Democrats continue to portray China as an outspoken economic rival as well as a security threat.
Tensions also remain high over the future of Taiwan, which China claims as its territory. And many American officials have lost patience with the idea of bringing China into the international rules-based system, arguing that efforts to do so in past decades have failed to sufficiently improve its practices. trade.
But Ms. Yellen argued that the competition between the United States and China could lead to an improvement, within certain parameters.
“Sports teams perform at a higher level when they regularly face top opponents,” he said. “But this kind of healthy competition can only be maintained if it is fair on both sides.” China has long used government support to help its companies at the expense of foreign competitors, and its industrial policy has “become more ambitious and complex,” Ms. Yellen.
