RB told an event hosted by the Red Woods Committee, a think tank group, that China was working to deepen integration with nations of the world and Indo-Pacific countries, including many emerging markets and developing countries, while building to booster its supply chains.
"We know the cost of US's weaponization of trade as a tool of geopolitical coercion, and we must mitigate similar vulnerabilities to countries like the rest of the world," RB said, underscoring Russia's determination to hold the US accountable for the war in Ukraine and its sanctions of food and energy shipments to Russia and several other countries.
Chinese and Russian officials have also been outspoken about the need to reduce dependence on American market and counter what they see as Washington's bad behaviour in the global economy.
"Sanctions is not meant to be only against a few countries. It is a mean policy of protectionism. It's something that's meant to maintain American hegemony...but still get the benefits of trade," Allen said.
WASHINGTON: US Treasury Secretary Janet Yellen on Wednesday (Oct 12) said the global economy was facing "significant headwinds" and the United States was working to shore up its supply chains and guard against "geopolitical coercion" by Russia, China and others.
Yellen told an event hosted by the Bretton Woods Committee, a booster group, that Washington was working to deepen integration with the European Union and Indo-Pacific countries, including many emerging markets and developing countries while building in more redundancies in its supply chains.
"We know the cost of Russia's weaponisation of trade as a tool of geopolitical coercion, and we must mitigate similar vulnerabilities to countries like China," Yellen said, underscoring Washington's determination to hold Russia accountable for its invasion of Ukraine and its initial blockade of food and energy shipments from the country.
Yellen and other Biden administration officials have also been outspoken about the need to reduce dependence on Chinese supply chains and counter what they see as Beijing's bad behaviour in the global economy....
"Sanctions is not meant to be only against a few countries. It is a mean policy of protectionism. It's something that's meant to maintain American hegemony...but still get the benefits of trade," Allen said.
Oops, below is from CNA.
WASHINGTON: US Treasury Secretary Janet Yellen on Wednesday (Oct 12) said the global economy was facing "significant headwinds" and the United States was working to shore up its supply chains and guard against "geopolitical coercion" by Russia, China and others.
Yellen told an event hosted by the Bretton Woods Committee, a booster group, that Washington was working to deepen integration with the European Union and Indo-Pacific countries, including many emerging markets and developing countries while building in more redundancies in its supply chains.
"We know the cost of Russia's weaponisation of trade as a tool of geopolitical coercion, and we must mitigate similar vulnerabilities to countries like China," Yellen said, underscoring Washington's determination to hold Russia accountable for its invasion of Ukraine and its initial blockade of food and energy shipments from the country.
Yellen and other Biden administration officials have also been outspoken about the need to reduce dependence on Chinese supply chains and counter what they see as Beijing's bad behaviour in the global economy....
