Yellen Says US Seeks to Diversify, Not Decouple From China

The video discusses concerns from the US business community about China's non-market practices, including subsidies and market access barriers. It highlights recent punitive actions against US firms and China's export controls on critical minerals. The importance of resilient supply chains is emphasized. The US aims for a balanced economic relationship with China, advocating for market reforms and opposing economic decoupling. National security measures are narrowly targeted and not for economic advantage.

What are some of the non-market tools used by China that concern the US business community?

• Increased tariffs on US goods

• Promotion of foreign investments

• Reduction in import duties

• Expanded subsidies for state-owned enterprises

Why is it important to build resilient and diversified supply chains according to the speaker?

• To reduce dependency on a single market

• To increase production costs

• To limit global trade

• To focus on domestic markets only

What does the speaker suggest would benefit both the US and Chinese economies?

• Reducing consumer spending

• A complete separation of their economies

• A shift towards market reforms

• Increased tariffs on imports

What is the speaker's stance on the decoupling of the US and Chinese economies?

• It is already happening

• It would be destabilizing and virtually impossible

• It would stabilize the global economy

• It is necessary for national security

What is the primary reason for the US to take actions related to national security, according to the speaker?

• To gain economic advantage over China

• To protect national security interests

• To increase trade barriers

• To promote US exports