WASHINGTON — Treasury Secretary Janet L. Yellen will call on Thursday for a “constructive” and “healthy” economic relationship between the United States and China. remarks.
Yellen’s comments, presented at Johns Hopkins University’s Graduate School of Advanced International Studies, will set a very positive tone for US-China relations after months of tensions between the world’s largest economies. .
Ms. Yellen is expected to emphasize the importance of securing US national security interests and protecting human rights. She also stresses that the targeted actions taken by the US against China, such as cutting it off from the world’s most advanced semiconductors, are purely aimed at protecting US national security. .
China criticizes US restrictions on technological development as illegal and a blatant attempt to undermine the Chinese economy. Yellen will try to allay those concerns.
“These national security actions are not intended to gain competitive economic advantage or stifle China’s economic and technological modernization,” Yellen said. I plan to speak. “Though these policies may affect the economy, they are driven by simple national security considerations.”
She also underscores the strength of the US economy, noting that US economic output is still far ahead of China.
Relations between the two countries have been strained recently, including the diplomatic blow-up in February after a Chinese spy balloon crossed the United States before being shot down over the Atlantic. It continues to state that it is a rival and a security threat.
Tensions over the future of Taiwan, which China claims as its own territory, also remain high. Many U.S. officials have also grown impatient with the idea of including China in the rules-based international system, arguing that efforts over the past few decades have failed to improve China’s trade practices sufficiently. .
But Yellen would argue that competition between the US and China could lead to mutual improvement, within certain parameters.
“Sports teams always perform at a higher level by playing against top rivals,” she said in her prepared remarks. “But this kind of healthy competition is only sustainable if it is fair to both sides.” China has long used government support to support domestic firms at the expense of foreign competitors. and its industrial policies are “more ambitious and complex,” Yellen would say.
