US Treasury Secretary Janet Yellen emphasized the importance of shifting towards domestic demand-led growth during her visit to China, highlighting concerns over Beijing's economic strategy and its reliance on manufacturing and foreign demand. Yellen's stance is echoed by the IMF's Kristalina Georgieva and has sparked discussions on the need for China to prioritize consumption-led growth, as argued by Daniel Rosen and Logan Wright. This approach is seen as crucial for addressing China's economic headwinds, including subdued consumption and the need for restructuring the country's income distribution system. Yellen is also poised to rally more countries against China's 'overcapacity' at the upcoming IMF and World Bank meetings. Additionally, Yellen warned of sanctions for those supporting Vladimir Putin's war, raising questions about the potential implications for US-China economic relations.
From the archive: In a 1993 essay, Nicholas Kristof weighed in on the potential economic, environmental and military effects of China's economic takeoff—and considered how the world should respond to the country’s expanding influence: https://t.co/V0BA7WC74v
#OpinionLine Constructive engagement between the #US and #China remains essential for addressing common challenges and building a brighter future for all. #JanetYellen https://t.co/TkgXfNGNJz
“After over two decades of strong investment-led growth, China now needs consumption-led growth. Further investment will have diminishing returns unless China can consume more at home. Yet over the past two years, the opposite has happened.” https://t.co/qGq7bqesIH
“We avoid misunderstandings and we preserve economic interactions that are beneficial to both sides,” Treasury Secretary Janet Yellen said this month, speaking on the U.S.-China relationship: https://t.co/6KfOeUHrYX
The debate on Chinese "green largesse" heats up as Yellen points fingers. Are fears of economic catastrophe overblown, or is there a real threat to American industries? #EconomicAnalysis #TradeWars Pierre Lemieux at #EconLog: https://t.co/5sEmXdOOfG
"Why China's economic woes should raise concern for the West" (@TheHillOpinion) https://t.co/xaZFPktfKo https://t.co/rRkJC2P6tb
Yellen is a reckless menace. What's the trimmed mean sticky seasonally-adjusted supercore PCE if China gets their U.S. assets seized? I don't know, but it'd be interesting. @SecYellen https://t.co/621L0ICpos https://t.co/sCOxmswsEf
Weekend Long Read: In light of subdued consumption, China has three options to tackle its economic headwinds. All hinge on restructuring the country’s income distribution system, so that more corporate gains find their way into the household sector. https://t.co/wN5GwxUOY6
“Domestic demand-led growth” was the key message of US Treasury Secretary Janet Yellen on her visit to China this month https://t.co/e1YJezOdG4
Janet Yellen playing poker with China https://t.co/PjgHZnjClD https://t.co/k3GIwKjisy
Janet Yellen is promising sanctions for those supporting Vladimir Putin’s war. But would America dare to bring down a Chinese bank? https://t.co/An7w7INUf7 👇
"She went to China in a position of strength... bc the U.S. economy is doing far better than the Chinese economy... bc of the policy choices the President has made..." Dep. Treasury Secretary @wallyadeyemo talks @SecYellen's trip to China. @Elex_Michaelson hosts @TheIssueIsShow https://t.co/f2LiyNYGEj
Janet Yellen is poised to rally more countries to her warning against China's "overcapacity" at the IMF and World Bank meetings next week. My story with @RamseyAlRikabi @v_dendrinou @europressos @chrisjcondon, with insights from @inumanak @joshualipsky https://t.co/f1QMTQ3niY
The IMF @KGeorgieva echoes Sec. Yellen in calling for a shift toward consumer-led growth in China vs manufacturing led https://t.co/3y8LIIwUQx
https://t.co/oVznGLaS33 Parsing Treasury Secretary Yellen's misunderstanding of the Chinese economy.
Instead of deepening the Chinese economy’s reliance on foreign sources of demand, Beijing’s economic strategy should prioritize consumption-led growth, argue Daniel Rosen and Logan Wright. https://t.co/Lfugz7oSrf
Yellen concerned yet?