Yellen Advocates for Healthy Competition between US and China

U.S. Treasury Secretary Janet Yellen meets with Chinese businessmen

U.S. Treasury Secretary Janet Yellen and U.S. Ambassador to China Nicholas Burns meet with representatives of the U.S. business community in China, in Beijing, July 7, 2023. REUTERS/Thomas Peter

In a meeting with Chinese Premier Li Qiang in Beijing, U.S. Treasury Secretary Janet Yellen emphasized the United States’ desire for healthy competition with China, focused on fair rules that benefit both countries, rejecting a “winner-take-all” approach. Yellen expressed hope for increased communication channels between the two largest economies in the world and highlighted the importance of global leadership on issues like climate change. While stating a need to take targeted actions for national security, she emphasized the importance of avoiding misunderstandings that could damage the overall economic and financial relationship between the two countries. Yellen also referred to Li’s previous statement on the importance of communication and exchange between countries with differences. She stressed the goal of healthy economic competition, based on fair rules that can benefit both nations in the long run.

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