Treasury Secretary Janet Yellen will strike a conciliatory tone when she talks about U.S.-China relations on Thursday, calling for “cooperation on the urgent global challenges of our day” whereas supporting financial restrictions on China to advance U.S nationwide safety pursuits.
“We seek a healthy economic relationship with China: one that fosters growth and innovation in both countries,” Yellen says in ready remarks to be delivered at Johns Hopkins University’s School of Advanced International Studies in Washington.
Yellen plans to ship a speech that requires improved relations between the 2 nations, which have seen more and more strained relations after the invention of a Chinese surveillance balloon in U.S. air area and because the Communist nation has grown its ties with Russia regardless of its continued invasion into Ukraine.
“A growing China that plays by international rules is good for the United States and the world,” Yellen says. “Both countries can benefit from healthy competition in the economic sphere. But healthy economic competition – where both sides benefit – is only sustainable if that competition is fair.”
The speech comes as tensions between the U.S. and China are at a fever pitch. The discovery of a surveillance balloon outfitted with high-tech gear designed to assemble delicate info, making a go over a delicate U.S. army web site, has drawn lawmakers’ scrutiny.
And China’s assist of Russia because it continues to wage its conflict in Ukraine is inflicting concern amongst Western leaders. Though China has maintained that it’s impartial within the battle, stating that it received’t promote weapons to both facet within the conflict, it just lately held joint army drills with Russia.
PHOTOS: Yellen requires higher US-China relations as tensions rise
Yellen, in her speech, says U.S. nationwide safety “is of paramount importance” within the relationship with the People’s Republic of China. “For example, we have made clear that safeguarding certain technologies from the PRC’s military and security apparatus is of vital national interest,” she says.
The U.S. final yr moved to dam exports of superior pc chips to China, an motion meant to quell China’s means to create superior army techniques together with weapons of mass destruction, Commerce Department officers stated final October.
Military workouts in Taiwan are additionally ratcheting up fears that China may invade the island. Earlier this month, China performed large-scale fight workouts round Taiwan that simulated sealing off the island in response to the Taiwanese president’s journey to the U.S. this month.
“We will secure our national security interests and those of our allies and partners, and we will protect human rights” Yellen says in her speech. “We will clearly communicate to the PRC our concerns about its behavior.”
Yellen met along with her Chinese counterpart, Vice Premier Liu He, in Zurich in January, which was the highest-ranking contact between the 2 nations since their respective presidents agreed final November throughout their first in-person assembly to search for areas of potential cooperation.
“It is important that we make progress on global issues regardless of our other disagreements,” Yellen says. “That’s what the world needs from its two largest economies.”
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