Yellen criticizes Chinese treatment of U.S. companies during visit to revive relations
The Hindu
U.S. Treasury Secretary Janet Yellen criticized Chinese treatment of U.S. companies and new export controls on metals used in semiconductors during a visit to Beijing
U.S. Treasury Secretary Janet Yellen criticized Chinese treatment of U.S. companies and new export controls on metals used in semiconductors during a visit on July 7 to Beijing to try to revive strained relations.
Talking with a group of businesspeople, Ms. Yellen defended U.S. controls on technology exports that irk Beijing, saying they are necessary for national security. She rejected suggestions Washington is trying to decouple, or separate the U.S. economy from China’s.
Also read | U.S. Treasury Secretary Janet Yellen visits China as part of efforts to soothe strained relations
"The U.S. seeks healthy economic competition with China," Ms. Yellen said, according to a transcript released by her department.
“I am communicating the concerns that I’ve heard from the U.S. business community — including China’s use of non-market tools like expanded subsidies for its state-owned enterprises and domestic firms, and barriers to market access for foreign firms,” Ms. Yellen said.
U.S.-Chinese relations are at their lowest level in decades due to disputes over technology, security, Beijing’s military expansion and other irritants.
On Friday, Ms. Yellen met with the outgoing governor of China's central bank, Yi Gang, and former Vice Premier Liu He, previously her counterpart in finance talks, according to the Treasury. She was due to meet later with China's No. 2 leader, Premier Li Qiang.
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