“It would be destabilizing for the rest of the world. Rather, we know that the health of the Chinese and US economies is closely linked. A growing China that plays by the rules can be beneficial for the United States,” she added.
Yellen argued that the Chinese economy in recent years has moved toward a more state-driven approach that has undercut its neighbors and countries across the world.
She said the US’ economic approach to China has three objectives – to secure American national security interests, have a healthy economic relationship with China that fosters growth and innovation in both countries, and establish cooperation on global challenges.
CURRENTPH NEWS SERVICE