Treasury Secretary Janet Yellen said Thursday that it would be a mistake for the U.S. and China to 'decouple,' warning of disastrous economic consequences.
Treasury Secretary Janet Yellen said on Thursday during a pivotal meeting with her Chinese counterpart that a full separation of the world's two largest economies would be "disastrous" for both countries. "The United States has no desire to decouple from China," Yellen said in remarks prepared for delivery in San Francisco. "A full separation of our economies would be economically disastrous for both our countries, and for the world.
Beijing laid out some of its concerns about Washington policy ahead of the meeting between Yellen and He, underscoring the fragile nature of the U.S.-China relationship. The list of grievances includes the Biden administration's policy on China, efforts to exclude Beijing from the supply chain system, restrictions on technology products like advanced semiconductor chips, tariffs imposed on Chinese goods and restrictions on the operation of Chinese companies within the U.S.
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