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Yellen Sets Out US Stance Ahead Of APEC Summit & Biden/Xi Meeting

US-CHINA

(MNI) London - In a speech billed as setting the stage for the upcoming Asia-Pacific Economic Cooperation summit in San Francisco, California, US Treasury Secretary Janet Yellen, speaking to the Asia Society in Washington, D.C., states that the Biden administration is, "committed to expanding trade and investment with Indo-Pacific partners....the US will pursue economic integration with the Indo-Pacific while still protecting national security interest through targeted actions where necessary."

  • Yellen also states that "US engagement with the Indo-Pacific is crucial to bolstering supply chain security and resilience through 'friend-shoring'. "
  • Axios reported earlier that "Biden officials want pragmatism to be the predicate for the U.S- China relationship. By emphasizing the importance of economic growth and trade, officials are signaling to Beijing that relations don't have to be defined by conflict."
  • The APEC summit takes place 14-15 November. While the Biden-Xi meeting has not been confirmed, it is widely expected to take place and become the first in-person talks between the two leaders since those on the sidelines of the Nov 2022 G20 Summit in Indonesia.
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