Janet Yellen Indicates a Further Push to get away from Chinese Supply Dependence
As she travels to South Korea, Janet Yellen goes with the intention of gaining insight as to how the United States won't have to depend on Chinese supply for much longer...
According to the United States Treasury Secretary Janet Yellen, the U.S. genuinely is attempting to end its “undue dependence” on rare earth materials and other key goods coming from China. Janet Yellen specifically is pushing for increased trade ties with South Korea and other American allies to improve the flexibility of supply chains and to avoid pricing manipulation due to rivalries.
"Resilient supply chains mean a diversity of sources of supply and eliminating to the extent we can the possibility that geopolitical rivals will be able to manipulate us and threaten our security."
Janet Yellen told reporters as she landed in Seoul, South Korea.
The concerns mentioned by Janet Yellen will be completely mapped out tomorrow as she’s visiting the Indo-Pacific ally. Janet Yellen is attempting to pitch a "friend-shoring or diversifying U.S. supply chains to rely more on trusted trading partners.” She claims these moves would combat inflation and also protect America from China’s unfair practices in trade.
Janet Yellen indicated the capacity to produce advanced semiconductors South Korea has as the United States pushes away from Taiwan's dependence. Since Beijing has had one of the most unstable supply chains since 2019, the United States is seriously investigating other options to ease its dependency on Chinese exports.
"They have used coercion to pressure a number of countries whose behavior they have disapproved of. We know that’s a reason we don’t want to be dependent on China.
We have real concerns with respect to China and we’re pressing them, but I don’t want to convey a picture of purely escalating hostilities with China.”
Janet Yellen added.