Yellen Calls for Fair Competition and Improved US-China Ties

Treasury Secretary Janet Yellen criticized China's economic practices as "unfair" and urged the nation to shift towards healthy competition with the United States. Yellen highlighted China's use of non-market tools, barriers to foreign firms, and coercive actions against American companies, which she said harm American workers and firms. She emphasized that China's state-driven approach can discourage investors and called for structural reforms and fair treatment of foreign firms. Yellen also reiterated that complete decoupling from China would be damaging to both economies and have negative global repercussions.