Yellen Shares Concerns Over China’s Treatment of U.S. Companies

During meetings with my counterparts, I’m communicating the concerns that I’ve heard from the U.S. business community, including China’s use of non-market tools like expanded subsidies for its state owned enterprises and domestic firms, as well as barriers to market access for foreign firms. I’ve been particularly troubled by punitive actions that have been taken against U.S. firms in recent months. I’ve made clear that the United States does not seek a wholesale separation of our economies. We seek to diversify and not to decouple. A decoupling of the world’s two largest economies would be destabilizing for the global economy, and it would be virtually impossible to undertake.