U.S. Treasury Secretary Janet Yellen said competition between the world’s biggest economies is not a “winner-take-all” situation, and called for both sides to manage their rivalry with a fair set of rules.
Yellen’s comments were delivered Friday during a meeting with Chinese Premier Li Qiang as she made a long-anticipated trip to Beijing, aimed at finding some common ground between the two superpowers sparring on everything from trade to Taiwan’s security.
“We seek healthy economic competition that is not winner-take-all but that, with a fair set of rules, can benefit both countries over time,” the Treasury chief told China’s No. 2 official, adding that U.S. actions to protect national security should be “targeted.” She also raised “issues of concern,” according to a Treasury statement.
