Yellen’s Call for Constructive US-China Ties Signals a Shift in Approach
Image Credit: The Times of India
Janet Yellen, the United States Secretary of the Treasury, recently called for constructive ties between the US and China, emphasizing that the two countries should avoid “decoupling” their economies. In her first major speech on US-China relations, Yellen noted that both nations are facing several economic challenges, and a constructive relationship would be beneficial for both sides.
The US-China relationship has been tumultuous in recent years, with trade wars, intellectual property disputes, and accusations of human rights violations. The previous US administration had taken a hardline stance towards China, with former President Donald Trump imposing tariffs and sanctions on Chinese companies. However, Yellen’s speech suggests that the Biden administration is taking a different approach. She acknowledged that competition between the two nations is inevitable, but it should not lead to confrontation. Yellen highlighted the importance of cooperation on global challenges such as climate change and the COVID-19 pandemic.
The Secretary of Treasury also urged China to improve its human rights record, stating that the US will continue to stand up for human rights and democratic values. She emphasized that the US will work with its allies to hold China accountable for its actions. Yellen’s speech is a significant departure from the previous administration’s approach toward China. The Biden administration has indicated that it is willing to work with China on areas of mutual interest while addressing concerns regarding China’s economic practices and human rights record.
The call for constructive US-China ties is a positive step towards reducing tensions between the two nations. The US and China are the world’s two largest economies, and their relationship has global implications. A constructive relationship between the two nations would benefit the global economy and promote stability in the international system.
Re-reported from the story originally published in The Times of India
