Janet L. Yellen, President-elect Joseph R. Biden’s nominee to be Secretary of the Treasury, has said that The United States must make investments to compete with China.
Yellen considera a China as the most important strategic competitor from the United States.
“China is undermining American businesses by dumping products, erecting trade barriers and granting illegal subsidies to corporations “
Meanwhile, the markets focused on their views on the US dollar.
While he does not specifically endorse the “strong dollar” policy established in the 1990s, he said that The United States “does not seek a weaker currency to gain a competitive advantage”.
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