Yellen: US Economic Approach to China Prioritizes National Security, No Compromise.

The United States’ Commitment​ to National Security and Human Rights in its Economic‍ Relationship with China

The United States will not compromise on national ⁤security interests and human rights in its pursuit of a “healthy” economic relationship with communist China, Treasury Secretary ⁣Janet Yellen emphasized on Thursday.

Yellen’s remarks came ahead of ⁣an‌ upcoming meeting between President Joe Biden and Chinese ​Communist Party (CCP) leader Xi Jinping at the Asia-Pacific Economic Cooperation forum in San Francisco later ⁤this month.

Speaking at the Asia Society in Washington on November ​2, Yellen outlined the United States’ approach towards China, emphasizing⁣ three main goals:

• Securing U.S. national security ‌interests⁣ and⁣ advancing human rights
• Maintaining a ⁣mutually beneficial economic relationship with China
• Collaborating with China on global challenges

Yellen made it clear‌ that the United States has no intention⁤ of decoupling from China but rather adopts a “serious and clear-eyed” approach towards achieving these goals.

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Yellen emphasized that when the United States takes national security actions using economic tools, it does so in narrowly targeted ways to accomplish its goals ‌without stifling China’s growth.

Responding to China’s unfair economic practices, ⁣such as nonmarket ⁢policies and barriers to market access, is crucial for maintaining a healthy economic relationship, according to Yellen.

Furthermore, the United ⁣States aims to collaborate with China on global challenges like climate change and debt distress in low-income countries.

However, Yellen stressed that effective ‍communication between the two sides is essential to prevent misunderstandings and clarify areas of agreement and disagreement.

Tensions between China and the United States have reached historic lows due ⁣to various disputes. The Biden ⁢administration seeks high-level engagements with the CCP to stabilize these tensions.

President Biden recently emphasized⁢ the need for responsible​ management of competition and open lines of communication ‍with China’s top diplomat Wang Yi.

Why the United States Won’t Decouple From China

Yellen ​explained that a complete separation of the U.S. and Chinese economies is not practical due to extensive economic⁢ linkages and complex global ‍supply chains in⁣ the Indo-Pacific region.

She emphasized that a divided world⁣ with full economic separation would ​have significant negative ⁣global repercussions, which the‍ United‌ States aims to avoid.

Instead, the United States plans to de-risk and diversify its⁤ economic ties with Beijing by investing domestically and strengthening alliances with partners worldwide.

Yellen ​highlighted the importance of economic engagement with the Indo-Pacific region for supply chain security and expressed the United States’ intention to enhance economic ties ⁢with countries like India and Vietnam.

Trade between the United⁤ States and the Indo-Pacific region has steadily increased,⁤ reaching $2.28‌ trillion in 2022, with the United​ States ​exporting approximately $770 billion worth of goods and services to the region last year.

Yellen concluded by stating that the United States aims to generate diverse and secure supply chains while protecting national security, advancing its ⁤values, and fostering economic growth across the Indo-Pacific.

How does Janet Yellen’s approach towards China align​ with President Biden’s vision for the U.S.-China relationship

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