Foreign Media: At the HSBC Global Investment Summit in Hong Kong, former U.S. Treasury Secretary Yellen stated that the U.S. dollar has "no viable alternative," while calling on China and the United States to cooperate for the sake of global interests.
She warned that decoupling between China and the U.S. would be an "unwanted scenario," emphasizing that the deep trade and investment ties between the two countries should be preserved. Yellen pointed out that China's reliance on export-driven growth leads to "conflicts of interest" with developed economies, as these economies are unwilling to "fully relinquish control over advanced manufacturing."
She stressed that China and the U.S. "truly need to cooperate" in addressing major global challenges, citing successful collaboration in climate change as an example, and also highlighted artificial intelligence safety as another area requiring joint efforts.
Original Source: toutiao.com/article/1862609115624456/
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