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Yellen Urges US-Europe Cooperation to Change China’s Behavior

  • Treasury chief says China has used ‘unfair’ trade practices
  • Yellen urges united front to help encourage change in Beijing
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WATCH: The US and Europe should pursue “common goals jointly, not unilaterally,” Treasury Secretary Janet Yellen said.Source: Bloomberg
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Treasury Secretary Janet Yellen said that western democracies have become “too vulnerable” to countries that use their market positions as geopolitical leverage, and called for the US and Europe to coordinate their approach toward China after having united against Russia.

“We have a common interest in incentivizing China to refrain from economic practices that have disadvantaged us all,” Yellen said in a speech in Brussels on Tuesday. “These practices range from those affecting trade and investment, to development and climate policies, to approaches to provide debt relief to countries facing unsustainable debt burdens.”