“We cannot allow countries like China to use their position in the market of […] key products to disrupt our economy or exercise geopolitical influence,” said Janet Yellen.
US Treasury Secretary Janet Yellen stated that Western countries must commit to cracking down on states that “violate the world economic order” and he spoke of the alleged threats posed by Russia and China during a speech in Seoul. The senior official is in the South Korean capital on the last leg of an eleven-day official tour of the Indo-Pacific region.
“The United States and our allies, such as Korea [from the South], will work together to continue demanding a strong commitment to the norms and values that underpin the global economic order“, he stated, adding that the West will impose severe restrictions against those countries that endanger global supply chains and disrupt the intercommunication between national economies.
According to Yellen, “economic integration has been used by Russia as a weapon and to great effect”, citing the food and energy crises unleashed after the conflict in Ukraine .
“Russia is now threatening to provoke a world food crisis by blocking the ports of Ukraine, and […] has caused an increase in energy prices in the United States and in around the world,” the official assured and stressed that there will be no nation that is not affected by the consequences of the situation. Moscow, for its part, has repeatedly denied such accusations.
Avoid collaborating with China
Furthermore, Yellen defended that the US and South Korea should strengthen their commercial ties to avoid collaborating with certain states, including China, which, according to her, take advantage of their position in the market to obtain unfair advantages.
“We cannot allow countries like China to use their position in the market for raw materials, technologies or key products to disrupt our economy or exercise a unwanted geopolitical influence,” he said.
After rejecting China’s “unfair practices that harm national security interests [from the US]”, the secretary called on her allies to agree on business practices that encourage production and reduce risks in supply chains.
Russian a and China criticize the US hegemony.
Moscow has repeatedly rejected the White House’s accusations, stating that it is Washington that, by put their hegemonic interests above international peace and security, tries to alter the post-World War II world order, as well as disrupt the entire system from the ONU.
The secretary of the Russian Security Council, Nikolai Patrushev, recently declared that the crisis in Ukraine is precisely one of the consequences of the “inconsiderate and bloody” US policy , which is based on “satisfying its own geopolitical and financial interests” and intends to “maintain its hegemony in world affairs by any means” , even through “unleashing wars in other regions of the planet”.
In turn, Beijing considers that the US discourse on China policy “is full of lies and reverses black and white”, according to the words of the spokesman for the Chinese Ministry of Foreign Affairs, Zhao Lijian . The senior diplomat assured at the end of May that the United States. it has become “the greatest source of chaos in international peace and stability” and described it as the main “challenge” for the world order. Lijian also agreed with Moscow that the US authorities “do not respect the international order based on the UN Charter and international law.”