‘China’s Economy Is in Big Trouble’—Miles Yu on Janet Yellen’s Trip to China | ATL:NOW
“China has been playing hard to get for the last several months and they would not talk. Now, they sort of relented. And so, they agreed to talk with American high-level cabinet members on matters that are vital to both nations’ economies. The reason why they relented is because China’s economy is in big trouble, and they need the West much more than the West needs China.”
In this episode, I speak with Miles Yu, who heads the China Center at the Hudson Institute and served as former adviser on China to U.S. Secretary of State Mike Pompeo. We discuss U.S. Treasury Secretary Janet Yellen’s trip to China, its possible outcomes, and the current state of China’s economy and standing in the international community.
“I don’t have much hope or expectation for a comprehensive solution after this trip. But, at least it’s something that the Biden administration has tried to do,” says Mr. Yu. “The only way to win for the United States and for the rest of the world is for China to change its behavior, pure and simple.”