Yellen criticizes China's 'punitive' actions against US companies

[beijingwalker]

Yellen criticizes China's 'punitive' actions against US companies​

By Andrea Shalal and Joe Cash
July 7, 20236:15 PM GMT

• Yellen says U.S. wants healthy competition, not winner-take-all
• Chinese Premier Li hopeful about bilateral ties
• U.S. industry welcomes Yellen's 'firepower'

BEIJING, July 7 (Reuters) - U.S. Treasury Secretary Janet Yellen called on Friday for market reforms in China and criticized the world's second-largest economy for its recent harsh actions against U.S. companies and new export controls on some critical minerals.

Yellen arrived in Beijing on Thursday to try to repair fractious U.S.-Chinese relations, but made clear in her public remarks that Washington and its Western allies will continue to hit back at what she called China's "unfair economic practices."

Yellen spoke to the American Chamber of Commerce in China (AmCham) after what a Treasury official called "substantive" talks with former Chinese economy czar Liu He, a close confidante of President Xi Jinping, and outgoing top Chinese central banker Yi Gang.

The United States is seeking healthy competition with China based on fair rules that benefit both countries, not a "winner-take-all" approach, Yellen told Chinese Premier Li Qiang in a subsequent meeting on Friday.

She said she hoped her visit would spur more regular communication between the two rivals, and said any targeted actions by Washington to protect its national security should not "needlessly" jeopardize the broader relationship.

"We seek healthy economic competition that is not winner-take-all but that, with a fair set of rules, can benefit both countries over time," she said.

Yellen and other U.S. officials are walking a difficult tightrope of trying to repair fractious ties with China after the U.S. military shot down a Chinese government balloon over the United States, while continuing to push Beijing to halt practices they view as harmful to U.S. and Western companies.

Yellen criticizes China's 'punitive' actions against US companies, urges market reforms

U.S. Treasury Secretary Janet Yellen called on Friday for market reforms in China and criticized the world's second-largest economy for its recent harsh actions against U.S. companies and new export controls on some critical minerals.

www.reuters.com

 

[etylo]

What a thick face hypocrite and liar.

 

[PakFactor]

What a dumb b*tch a waste of time sending her.

 

[Azadkashmir]

she looks like a chicken that has had beak ripped off.

 

[REhorror]

Well, told ya.

 

[ziaulislam]

If things go south it seems bigger loser will be USA

Chinese market is important for apple and Tesla and USA farmers

While Chinese cheap supply chain has no replacement

China can ban apple, farm products and Tesla and will be fine. But USA can't work without cheap supply chain from China.

Untill India becomes next manufacturing hub

Biden has made things worse with China