{"id":2025507,"date":"2023-09-08T06:25:02","date_gmt":"2023-09-08T10:25:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/yellen-says-us-monitoring-carefully-chinas-economic-woes-but-sees-no-significant-impact-on-us-economy\/"},"modified":"2023-09-08T06:27:26","modified_gmt":"2023-09-08T10:27:26","slug":"yellen-says-us-monitoring-carefully-chinas-economic-woes-but-sees-no-significant-impact-on-us-economy","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/yellen-says-us-monitoring-carefully-chinas-economic-woes-but-sees-no-significant-impact-on-us-economy\/","title":{"rendered":"Yellen keeps an eye on China&#8217;s economic troubles, but no major impact on US economy."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fyellen-says-us-monitoring-carefully-chinas-economic-woes-but-sees-no-significant-impact-on-us-economy%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2025507&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div data-post-content=\"true\" class=\"post_content\" id=\"post_content\">\n<p>NEW\u200c DELHI, India\u2014Treasury Secretary \u2062Janet\u200d Yellen reassured the public on Friday \u2062that the United States is closely monitoring the economic situation\u200c in China. However, \u200dshe emphasized that there is \u200cno need to panic as it is unlikely to have a significant impact on the United States.<\/p>\n<p>Speaking\u200c at a press \u200dbriefing \u200bduring the G-20 summit \u2064in India,\u200c Ms. Yellen acknowledged that China is facing various economic challenges\u200b in the short and long term. She\u2063 specifically \u2064highlighted the low consumer \u200bspending and persistent issues \u200cin the Chinese property\u200c sector.<\/p>\n<blockquote>\n<p>&#8220;We&#8217;ve been monitoring carefully, including the\u2062 less of a pickup\u200c in\u2062 consumer \u2064spending than had been anticipated in the aftermath of the COVID restrictions, as well as long-standing issues with respect \u2062to the property sector and debt related to that,&#8221; Ms. Yellen\u200b said.<\/p>\n<\/blockquote>\n<div class=\"shortcode\">\n<div class=\"border-comp-divider mb-4 mr-4 w-full max-w-[500px] border px-5 py-4 text-[16px] leading-[20px] text-[#262626] md:float-left\" id=\"in_article_related_stories\">\n<div class=\"mb-3 font-sans text-[16px] font-semibold uppercase leading-[19px] text-[#2F2F2F]\">Related Stories<\/div>\n<div class=\"mb-4 flex gap-2\">\n<div class=\"grow\">\n<div class=\"mb-1 line-clamp-2\">\n            <a href=\"http:\/\/www.theepochtimes.com\/us\/us-economy-on-the-right-track-yellen-says-on-1-year-anniversary-of-inflation-reduction-act-5465902\">US Economy \u2062\u2018On the Right \u2063Track,\u2019 Yellen \u2064Says on 1st Anniversary of Inflation Reduction Act<\/a>\n          <\/div>\n<div class=\"text-comp-caption text-[14px] leading-[18px]\">8\/15\/2023<\/div>\n<\/p><\/div>\n<div class=\"shrink-0 basis-[120px]\">\n          <a href=\"http:\/\/www.theepochtimes.com\/us\/us-economy-on-the-right-track-yellen-says-on-1-year-anniversary-of-inflation-reduction-act-5465902\"><\/a>\n        <\/div>\n<\/p><\/div>\n<div class=\"mb-4 flex gap-2\">\n<div class=\"grow\">\n<div class=\"mb-1 line-clamp-2\">\n            <a href=\"http:\/\/www.theepochtimes.com\/us\/treasury-secretary-yellen-criticizes-fitchs-puzzling-downgrade-of-us-credit-rating-5440655\">Treasury Secretary Yellen Criticizes Fitch&#8217;s &#8216;Puzzling&#8217; Downgrade of US Credit Rating<\/a>\n          <\/div>\n<div class=\"text-comp-caption text-[14px] leading-[18px]\">8\/2\/2023<\/div>\n<\/p><\/div>\n<div class=\"shrink-0 basis-[120px]\">\n          <a href=\"http:\/\/www.theepochtimes.com\/us\/treasury-secretary-yellen-criticizes-fitchs-puzzling-downgrade-of-us-credit-rating-5440655\"><\/a>\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>&#8220;And in the long term, we are also \u2064seeing negative\u2062 population growth and a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/japanification-how-americas-economy-could-see-a-permanent-decline\/\" title=\"\u2018Japanification\u2019: How America\u2019s Economy Could See A Permanent Decline\">shrinking labor force<\/a> \u200bin\u200d China. Therefore, we anticipate a slowdown in\u2064 China&#8217;s growth over\u200d time,&#8221; Ms. Yellen explained.<\/p>\n<p>Nevertheless, Ms. Yellen remains optimistic\u2062 about China&#8217;s ability to address these challenges effectively. She believes that the direct impact on the United States will not be \u2063significant.<\/p>\n<p>&#8220;While\u2062 countries in\u2063 East Asia \u2064may be more affected \u2062by the slowdown, \u200bwe are closely monitoring the\u200b situation,&#8221; she added.<\/p>\n<div class=\"shortcode post-related-videos\">\n<div class=\"lazyload-wrapper\">\n<div class=\"lazyload-placeholder\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>The world&#8217;s second-largest economy has struggled to recover since \u2063the end of its zero-COVID policy, with\u200d consumer spending showing \u2064no signs of improvement. This has left economists puzzled and raised concerns about\u2064 the\u200b true state of China&#8217;s economy.<\/p>\n<p>One major concern is the \u2064<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/yellen-says-us-monitoring-carefully-chinas-economic-woes-but-sees-no-significant-impact-on-us-economy\/\" title=\"Yellen keeps an eye on China's economic troubles, but no major impact on US economy.\">excessive debt accumulated<\/a> by \u2063local governments to fund infrastructure projects. These projects, although impressive, have been deemed wasteful and have contributed to the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sri-lanka-protesters-demand-president-resign-in-los-angeles-new-york\/\" title=\"Sri Lanka Protesters Demand President Resign in Los Angeles, New York\">current debt crisis<\/a>. China is now faced \u200bwith the challenge of managing \u200dthis debt bubble, which is on the verge of\u200c bursting, posing a significant threat to economic stability.<\/p>\n<div class=\"my-5\">\n<p>Economists believe that these challenges in China could have ripple effects beyond its borders,\u2063 particularly in \u2063emerging countries.<\/p>\n<h2>G-20 \u2064Summit to Begin \u2063Tomorrow<\/h2>\n<p>Leaders from the world&#8217;s richest and most powerful countries will gather in India&#8217;s capital, New Delhi, on Sept. 9\u201310 for the summit of the Group of 20.\u200c They will engage\u2063 in\u2063 discussions covering a\u2063 wide\u200d range of issues, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-admin-takes-wait-and-see-approach-to-china-trade\/\" title=\"Biden admin. takes \u2018wait and see\u2019 approach to China trade\">including climate change<\/a> and economic\u200c security.<\/p>\n<\/p><\/div>\n<p>President Joe Biden \u200cwill \u2063also be\u2062 attending the summit and plans to\u2062 address \u200bthe Chinese regime&#8217;s \u2062&#8221;coercive and unsustainable lending&#8221;\u200c practices.<\/p>\n<p>However,\u200b Chinese leader Xi Jinping \u2063will not be present at\u200c the\u2064 summit.\u2063 Premier Li\u2064 Qiang will represent Beijing instead.<\/p>\n<p>While\u200d China has become \u200dthe world&#8217;s largest \u2062creditor in recent years,\u2062 its lending strategy under the \u200cBelt and Road Initiative has faced criticism for its lack\u2063 of transparency.<\/p>\n<p>&#8220;We believe that low- and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ghana-is-first-country-to-receive-vaccines-through-global-covax-program\/\" title=\"Ghana Is First Country To Receive Vaccines Through Global COVAX Program\">middle-income countries<\/a> should\u2064 have access to high-standard,\u200b non-coercive \u200clending options,&#8221; stated White House National Security Adviser Jake Sullivan during\u2063 a press \u2062briefing on Sept. 5.<\/p>\n<p>That&#8217;s why the\u2064 United\u2063 States is advocating for &#8220;fund<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>, Treasury Secretary Janet Yellen assured that the US is closely monitoring China&#8217;s economic situation. However, she emphasized that there is no need to be concerned about any major repercussions on the United States. Yellen made these remarks during a press briefing at the G-20 summit in New Delhi.<\/p>\n","protected":false},"author":531,"featured_media":2025508,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[],"class_list":["post-2025507","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2025507","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/531"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2025507"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2025507\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2025508"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2025507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2025507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2025507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}