https://nytimes.com/business/yellen-china-economy-relations
“We do not seek to decouple our economy from China’s,” Yellen told reporters after a two-day meeting with Chinese Vice Premier He Lifeng in San Francisco.
“This would be damaging to both the US and China and destabilising to the world.”
Yellen said that Treasury has seen evidence of Chinese firms and banks “facilitating” the flow of equipment to Moscow and they would face “significant consequences”.
“We are concerned that in spite of a sanctions programmes that we’ve put in place, that equipment that is critical to Russia’s military effort is nevertheless evading sanctions and being delivered to Russia,” she said, adding that she was not accusing the Chinese government of complicity.
Yellen added that she had accepted an invitation from He to return to China next year as part of a “regular cadence of contact” between the economic leaders.
The meeting came ahead of sit-down talks between Biden and Chinese Premier Xi Jinping, who will travel to San Francisco next week for an Asia-Pacific Economic Cooperation summit of leaders from around the Pacific.
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