In a speech at Johns Hopkins University on the 20th (local time), U.S. Treasury Secretary Janet Yellen said, “National security is the most important thing in our relationship with China,” and “it is a non-negotiable area, even if it takes economic damage.” It clarified the grand principle of mass politics that security takes precedence over the economy.
It is evaluated that Treasury Secretary Yellen, who avoided a hardline tone in view of the economic damage caused by the US-China trade conflict, more explicitly expressed her will that universal values such as security and human rights of the United States and its allies are most important.
“We have a wide range of means to achieve this goal,” said Yellen. entity list) can also be added.” “We are carefully looking at the national security risks associated with foreign investment in the United States and are reviewing programs that would restrict US foreign investment in certain sensitive technologies.”
Earlier, while it was known that President Biden would soon sign an executive order restricting public investment, Bloomberg News reported on the same day that it would be “before the G7 summit.” It is intended to gain support for the US’ new China containment policy at the G7 summit. The G7 summit will be held in Hiroshima, Japan, from the 19th to the 21st of next month.
However, Minister Yellen left room for cooperation, saying, “Fair competition is welcome,” and that a constructive and healthy relationship with China will continue. “We are not trying to separate (decouple) our economy from China,” Yellen said. Decoupling would be a catastrophic blow.” He also said he would visit China when the time is right.
According to the Wall Street Journal (WSJ), high-ranking exchanges between the US and China were suspended due to reconnaissance balloons and a visit by the Taiwanese president, but working-level officials from the US Treasury Department and the Commerce Department recently visited Beijing, China, and the Chinese side is known to be favorable to Ministers Yellen and Gina Lamondo’s visit to China.
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Source: Donga
Mark Jones is a world traveler and journalist for News Rebeat. With a curious mind and a love of adventure, Mark brings a unique perspective to the latest global events and provides in-depth and thought-provoking coverage of the world at large.