Janet Yellen Urges U.S. to Balance Economic Ties with China with Human Rights and National Security

Washington wants to establish an economic relationship with Beijing that considers national security and human rights while being fair to both countries, according to Treasury Secretary Janet Yellen. She stated that the Biden administration does not intend to decouple from China, but rather aims to diversify by investing domestically and strengthening ties with trusted nations in the Indo-Pacific region. Yellen emphasized the importance of a healthy and stable economic relationship between the United States and China, grounded in shared values with allies and partners. The upcoming meeting between President Joe Biden and Chinese leader Xi Jinping during the Asia-Pacific Economic Cooperation conference will serve to stabilize relations and address various issues including trade, technology, security, and human rights. Yellen reiterated that the U.S. will pursue a serious and clear-eyed approach towards China, taking national security actions that are narrowly targeted rather than seeking to sever economic ties. Deepening engagement with China and rebuilding alliances with countries like Japan, South Korea, Vietnam, and India are key components of the U.S. strategy in the region as China seeks to challenge the U.S. as the regional leader. Yellen emphasized that claims of America turning away from the Indo-Pacific are unfounded, as the U.S. is actively strengthening economic ties in the region.