U.S. and China: Sec. Yellen says U.S. needs to focus on other Indo-Pacific countries

U.S. President Joe Biden and Chinese President Xi Jinping are slated to meet on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco. The two leaders are expected to talk about a range of topics including nuclear armaments and trade. The talks have been emphasized after Secretary of the Treasury Dept. Janet Yellen made remarks on how the U.S. “does not seek to decouple from China”, but should be considerate of its stance on human rights and national security.
China Beige Book Co-Founder and CEO Leland Miller joins Yahoo Finance to discuss U.S.-China relations as well as the challenges the Biden administration has in its policies toward China’s economy.
“This is an economy that’s going to be growing much, much more slowly. I think the mistake investors have been making for several years now, is they’ve gotten very bearish cyclically, they were too bearish over the summer, but they’re not bearish structurally…,” Miller says. “China is going to be slowing down 5%, 4%, 3%, we’re going to be seeing much, much slower growth than that growing forward.”
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