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 is the significance of building resilient and diversified supply chains according to the speaker?

In what ways does the speaker believe a level playing field can benefit both economies?