'We cannot allow countries like China to use their market position in key raw materials, technologies, or products to disrupt our economy.'
Treasury Secretary Janet Yellen during a meeting in Seoul, South Korea, on Tuesday. Photo: Lee Jin-Man — Pool/Getty Imageson Tuesday called for the modernization of world trading practices in order to be less dependent on countries like China for products, which she said has "benefited enormously" the current system.
Beijing "has directed significant resources to seek a dominant position in the manufacturing of certain advanced technologies, including semiconductors, while employing a range of unfair trade practices to achieve this position," Yellen said.
The U.S. and South Korea "share a common goal of a free and open Indo-Pacific," Yellen said. "But achieving it will take resolute action.— Excerpt from Treasury Secretary Janet Yellen's speech
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