Janet Yellen Reassures US Position towards China. United States (US) Treasury Secretary Janet Yellen is trying to reassure Asian countries that the US approach towards China will not cause a ‘catastrophic’ split in the global economy, forcing them to take sides on one side.
In a speech ahead of the Asia Pacific Economic Cooperation Summit held in the US, San Francisco on Thursday local time (2/11/2023), Yellen said that the US was not interested in a divided world and its various negative impacts.
Meanwhile, she stated that a complete separation between the US and Chinese economies was “completely impractical”. This is due to the complexity of Asia’s supply chains and the Indo-Pacific region’s deep economic ties with China.
Yellen’s comments were aimed at allaying growing concerns about the geopolitical fragmentation of the global economy into factions led by the US and China. This was said because of increasing export and technology controls driven by national security between the two largest economies in the world.
Janet Yellen Reassures US Position. Yellen herself said that the US was pursuing de-risking and diversification of its economic relations with China.
Uncle Sam’s efforts are carried out by investing in domestic manufacturing and strengthening relations with allies and partners around the world, including Indo-Pacific countries.
Not only that, she also revealed that the US will not compromise on actions in national security, but aims to ensure that these actions remain targeted and not to hinder China’s growth.