U.S Treasury Secretary, Janet Yellen has professed that the U.S. and China “can and need to find a way to live together” in spite of their sour relations, which have worsened in recent months.
In a speech at Johns Hopkins University’s School of Advanced International Studies in Washington, Yellen called for “cooperation on the urgent global challenges of our day” between the countries for the sake of maintaining global stability, while supporting economic restrictions on China to advance U.S national security interests.
Yellen called out China’s business and human rights abuses in Xinjiang, Hong Kong and Tibet while striking a conciliatory tone about how there is “a future in which both countries share in and drive global economic progress.”
“We seek a healthy economic relationship with China; one that fosters growth and innovation in both countries,” Yellen averred.
Relations between the two countries have become increasingly strained after the discovery of a Chinese surveillance balloon in U.S. air space and since the Communist nation has grown its ties with Russia despite its continued invasion into Ukraine.
The discovery of a surveillance balloon outfitted with high-tech equipment designed to gather sensitive information, making a pass over a sensitive U.S. military site, has drawn lawmakers’ scrutiny.
“A growing China that plays by international rules is good for the United States and the world. Both countries can benefit from healthy competition in the economic sphere. But healthy economic competition, where both sides benefit, is only sustainable if that competition is fair.”
Janet Yellen
Also, China’s support of Russia as it continues to wage its war in Ukraine has caused concern among Western leaders. Though China has maintained that it is neutral in the conflict, stating that it will not sell weapons to either side in the war, it recently held joint military drills with Russia.
“China’s no limits partnership and support for Russia is a worrisome indication that it is not serious about ending the war. It is essential that China and other countries do not provide Russia with material support or assistance with sanctions evasion.”
Janet Yellen
U.S. National Security Is Important In Relations With China
In her speech, Yellen iterated that U.S. national security “is of paramount importance” in the relationship with the People’s Republic of China. She added that the U.S. is “considering a program to restrict certain U.S. outbound investments in specific sensitive technologies with significant national security implications.”
The U.S. last year moved to block exports of advanced computer chips to China, an action meant to halt China’s ability to create advanced military systems including weapons of mass destruction, Commerce Department officials said last October.
“We will secure our national security interests and those of our allies and partners, and we will protect human rights. We will clearly communicate to the PRC our concerns about its behavior.”
Janet Yellen
Yellen divulged that she wants to visit China “at the appropriate time.”
“It is important that we make progress on global issues regardless of our other disagreements,” Yellen said. “That’s what the world needs from its two largest economies,” she added.
U.S. Trade Representative, Katherine Tai also struck a relatively conciliatory tone in Tokyo this week, in response to a reporter’s question about whether Washington is trying to decouple the American economy from China’s.
Tai, who is on her fourth visit to Japan after being appointed the top U.S. trade envoy, remarked that all members of President Joe Biden’s administration have been “very clear that it is not the intention to decouple” China’s economy.
U.S. trade sanctions against China are “narrowly targeted,” Tai said. Given its huge size and importance, unraveling the ties with China that keep the world economy running is “not a goal or achievable,” she noted in a news conference at the Foreign Correspondents’ Club of Japan.
