US Treasury Secretary Yellen wants fair competition between China and the United States | am730

US Treasury Secretary Yellen recently called the speech prepared for the Council on Foreign Relations: China and the United States must establish a healthy economic relationship based on fair competition. It seems that her views are not compatible with the presidential election in the United States. Because both Trump and Harris are trying to convince Americans that they will make every effort to suppress China after they are elected. As long as it can hurt China, they will use any dirty tricks, and they will not care about fair competition.

Yellen’s confidence in avoiding the public mood of the United States may be related to the fact that she is a scholar and not a typical technocrat. She once taught at the University of California, Berkeley, the London School of Economics and Harvard University Since she became finance minister, she has to do something that was not in line with what she used to teach students. She must feel very confused and awkward. Now that her term is coming to an end, and she has no intention of staying in government to work for the next president, she no longer has such scruples when she speaks.

She warned US leaders not to implement large-scale indiscriminate tariff measures (which Trump is preparing to do after being elected) because this will harm American families and businesses. Tariffs push prices up, fuel inflation, and put people under more pressure on their lives. In addition, tariffs will increase companies’ business costs, weaken the international competitiveness of US companies, and slow down US economic development.

Yellen believes that efforts to protect the US economy by imposing a high wall of indiscriminate tariffs on China are “absolutely false”. She pointed out that trade and investment with China can bring significant benefits to American companies and workers and must be sustained.

I believe Yellen’s comments were well intentioned. She said she will visit China after completing her term to meet and communicate with old friends.

However, as the Minister of Finance, even during her tenure, she was unable to prevent the US government from using unfair competition methods to attack Chinese exports. Recently, a batch of drones manufactured by DJI were banned from entry by US Customs. The reason is that the method of production of these drones was against the Uyghur Forced Labor Prevention Law. DJI said the allegations were baseless. DJI’s production plant is located in Shenzhen, and there is no forced labor at any stage of its production process. The relevant allegations are completely baseless.

The reason why DJI is targeted by the US Department of Homeland Security has nothing to do with its production methods, but because DJI’s technology is so advanced that it is not only easy to use, but also cheap at one time , there were more than 90% of the market share in the United States called American competitors are completely unstable, and the only option for the country is to take action.

The United States banned the use of DJI by government departments and departments that receive government subsidies Now they plan to ban even private purchases of DJI under clever names. Where is this fair competition? Intelligent people in the United States have repeatedly told the government that banning the importation of high-quality and cheap products will not benefit the United States. But politicians are only focused on votes, and they are not that concerned if it is good for the country and the people.