The United States needs to curb China's harmful acquisitions and restrict American investment in some Chinese firms to protect its national security, but a complete severing of technological ties would be worrisome, US Treasury Secretary Janet Yellen told lawmakers on Wednesday. "China is our most serious competitor and it poses challenges to our security and our democratic values," said Yellen, who testified before the Senate Finance Committee. "We're looking at the full range of tools that we have to push back to redress practices that harm us [and our] national security and our broader economic interests," she said. Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge , our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team. For example, she said, the Committee on Foreign Investment in the US (CFIUS), a Treasury-led inter-agency body, has helped rein in Chinese acquisitions that would have allowed access to advanced American technology. But she said she "would worry somewhat about complete technological decoupling," noting that many US allies in Europe, for example, would be reluctant to completely cut off their business activities… Read full this story
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Restrictions are needed but full US-China tech decoupling isn’t wise, US Treasury Secretary Janet Yellen says have 251 words, post on www.thestar.com.my at June 18, 2021. This is cached page on wBlogs. If you want remove this page, please contact us.