Updates on Yellen's Discussions with Chinese Officials and US Interests
Monday, 8 April 2024, 06:38
Yellen's Discussions with Chinese Officials and US Interests
Secretary Yellen shared updates from her recent exchange with Chinese officials, focusing on safeguarding US industries from potential risks.
Concerns Over Industrial Risks
- Decimated Industries: US aims to prevent industries from facing the fate of the steel sector a decade ago.
- Weakened Consumption: Worries persist over weak Chinese household consumption affecting global workers.
- Business Overinvestment: Risks posed by Chinese business overinvestment highlighted.
Yellen emphasized the need for sanctions on banks aiding in transactions of Chinese goods to Russian military and discussed plans for further engagements to address economic resilience and climate risks.
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