Janet Yellen's China Visit: A Delicate Balance of Power
Former US Commerce Secretary Wilbur Ross criticized US Treasury Secretary Janet Yellen for projecting weakness during her recent visit to China, stating that it weakens the power the US projects. Ross argued that Yellen's gesture of bowing and shaking hands enthusiastically with her Chinese counterpart was a "big error" and that more firm action should have been taken to address China's lack of honoring the phase-one tariff trade deal. He also emphasized the need for the US to correct its historical mistakes in the relationship with China and become more competitive in areas such as semiconductor production. Yellen's visit aimed to strengthen ties and cooperation in various areas, including climate change and debt distress.