Yellen Outlines Strategy for US-China Economic Ties, Plans 2024 Visit

Emphasizes Need for Communication, Collaboration and Understanding China's Economic Plans

US Treasury Secretary Janet Yellen has outlined her strategy for improving economic ties with China, emphasizing the need for communication and collaboration while continuing to confront Beijing over national security and human rights concerns.
Yellen plans to visit China again in 2024 to deepen areas of cooperation and improve communication.
She also stressed the importance of understanding China's plans, especially how it intends to respond to challenges with local government debt and the real estate market.
Yellen criticized China's state-driven economic policy, urging the nation to shift away from it as it can discourage investors and choke growth.
She also highlighted the Biden administration's strategy of strengthening relationships with like-minded nations through “friend shoring” with nations like South Korea, Vietnam, Japan, India and Indonesia.