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, Sept. 20, 2023, in New York. Yellen wants Latin America to trade more with the United States as part of an initiative that so far has failed to disrupt Chinas dominance in global manufacturing.
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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