Yellen: "Decoupling is a disaster for both countries... Expecting to establish US-China dialogue channels"

"Decoupling, Impossible to Implement"
Pursuing Supply Chain Diversification
Will Continue Productive Discussions with China's New Economic Team

U.S. Treasury Secretary Janet Yellen once again emphasized on the 9th that the U.S. is pursuing supply chain diversification rather than decoupling from China.

At a press conference held at the U.S. Embassy in Beijing following her visit to China from the 6th to the 9th, Secretary Yellen stated, "We are not pursuing decoupling (from China)" and added, "Decoupling and supply chain diversification are clearly distinct."

Secretary Yellen said, "Decoupling would be a disaster for both countries, would destabilize the world, and is not feasible."

U.S. Treasury Secretary Janet Yellen is greeting upon her arrival at Beijing International Airport in China on the 6th. Secretary Yellen is scheduled to stay in China until the 9th and meet with key economic figures including Premier Li Chang, Vice Premier He Lifeng, and Minister of Finance Liu Kun. 2023.07.06 [Photo by Yonhap News]

He said, "We seek a dynamic, healthy, fair, free, and open global economy and will not take sides with any country," adding, "There are significant differences between the U.S. and China. Both countries have a responsibility to manage the relationship responsibly."

Secretary Yellen evaluated that it was meaningful to establish a "durable and productive channel of dialogue" with China's new economic team. He stated, "The U.S. and China have made some progress and I believe a healthy relationship can be rescued."

He also reported that during this visit, discussions were held with China on intellectual property issues and non-market policies. He met consecutively with Premier Li Chang, Vice Premier He Lifeng, former Vice Premier Liu He, and Minister of Finance Liu Kun.

This content was produced with the assistance of AI translation services.