Yellen Departs For G20 Finance And Banking Meetings In India

US Treasury Secretary Janet Yellen has departed on an eight-day Indo-Pacific trip which will include the G20 Finance Ministers and Central Bank Governors meetings in India and a series of bilateral meetings in Vietnam.

• According to the Treasury Department, Yellen will work with partners to “build momentum,” on “evolving” multilateral development banks and continue work on debt sustainability.
• A detailed outline of Yellen’s schedule can be found here: Yellen G20 Schedule
• Yellen is expected to dedicate much of the trip to bolstering supply chain resilience and "friendshoring" with partners.
• A Treasury Department official told Reuters: Yellen would emphasize the need for countries to have diverse, resilient supply chains, although that was not a message "specifically targeted at China," and it did not reflect any plans by the U.S. to decouple from the Chinese economy.
• The official continued: "If you're talking about diversifying … your supply chain, you're basically saying I don't want 100% dependence on critical components anywhere in the world. That's not specifically targeted at China."