Yellen warns Europeans about working with China, urges unity

BRUSSELS (AP) — Even as Western allies grapple with how to counter Russia’s assault on Ukraine, U.S. Treasury Secretary Janet Yellen is warning that they also must take a wary and united approach to checking China and its business practices. In a speech Tuesday (May 17, 2022) to the Brussels Economic Forum, Yellen says the allies “have a common interest in incentivizing China to refrain from economic practices that have disadvantaged us all.” Yellen is in Brussels ahead of a meeting of finance ministers for the Group of Seven leading economies in Bonn, Germany. Yellen told her European audience that when it comes to China, “we have a set of common vulnerabilities that we should address.”