Yellen: ‘We Have Deepened Our Ties with China’

During a recent interview with CNBC, Treasury Secretary Janet Yellen discussed the evolving relationship between the United States and China. She emphasized that the ties between the two nations have strengthened, despite ongoing challenges. Yellen acknowledged the complexities of the relationship, particularly in light of tariffs that have been maintained and even increased since the previous administration. However, she highlighted the importance of constructive dialogue to address differences and enhance mutual understanding. Yellen pointed out that cooperation is essential in areas critical to global stability, such as financial systems. She mentioned that both countries are engaging in collaborative efforts, including tabletop exercises with financial authorities in China, to prepare for potential crises that could impact the global economy. This proactive approach aims to ensure that both nations can respond effectively to any financial emergencies that may arise. The Secretary's remarks reflect a nuanced view of U.S.-China relations, recognizing the need for both competition and collaboration. While acknowledging the risks posed by China, she underscored the necessity of maintaining open lines of communication to navigate these challenges. In conclusion, Yellen's statements suggest a commitment to deepening ties with China, focusing on areas where cooperation is vital for global financial stability, despite the backdrop of tariffs and trade tensions.