Treasury Secretary Janet Yellen stated that the United States aims to establish an economic relationship with China that considers national security and human rights, and is fair to both nations. She emphasized that the Biden administration does not seek to decouple from China, but instead wants to diversify its investments and strengthen ties with trusted countries in the Indo-Pacific region.
Yellen emphasized the importance of a healthy and stable economic relationship between the United States and China, based on shared values. She also mentioned that President Biden and Chinese leader Xi Jinping plan to hold talks to stabilize U.S.-China relations.
While the United States has implemented economic measures such as tariffs and restrictions on technology exports and investments, Yellen clarified that Washington does not intend to sever economic ties with China. The goal is to pursue a “serious and clear-eyed” approach that aligns with national security objectives.
Yellen strongly emphasized that a complete separation of the two economies or a forced division among countries in the Indo-Pacific would have negative global consequences. Instead, the United States aims to engage in dialogue with China to prevent misunderstanding and clarify areas of agreement and disagreement.
The U.S. is also working to strengthen partnerships with allies in the region, including Japan, South Korea, Vietnam, and India. Yellen affirmed that the United States remains committed to the Indo-Pacific region and is actively deepening economic ties, despite claims suggesting otherwise.
Overall, Yellen’s speech highlights the need for a balanced approach that considers both economic interests and other critical factors such as human rights and national security when dealing with China.
