Treasury Secretary Janet Yellen wants Latin America to trade more with the United States as part of an initiative that so far has failed to disrupt China’s dominance in global manufacturing
FILE - United States Secretary of the Treasury Janet Yellen speaks at the Atlantic Council Global Citizen Awards, Wednesday, Sept. 20, 2023, in New York. At a Bloomberg event on Thursday, Oct. 26, Yellen said the administration was “monitoring the economic consequences carefully” of Israel’s war against Hamas. “So far we have not yet seen much that has global consequences,” she said, but if the war spreads “of course there could be more meaningful consequences.
The heads of state of Peru, Chile, Ecuador, Uruguay, the Dominican Republic and Costa Rica will be in attendance for both events.Latin American businesses “will increasingly have the chance to lead in new areas of clean energy, for example, helping create vertical supply chains by using locally extracted lithium in local battery production,” Yellen says.
Increasingly, policymakers in the U.S. have expressed concern about China's influence at the bank. While the Asian superpower holds less than 0.1% voting rights, it holds large economic stakes in some of the 48 member countries of the bank.
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