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US treasury secretary Janet Yellen is wrapping up a visit to China by warning that Washington will not allow Beijing to decimate new US industries.
Yellen has just held a news conference after four days of talks with Chinese officials.
“We’ve seen this story before. Over a decade ago, massive PRC [People’s Republic of China] government support led to below-cost Chinese steel that flooded the global market and decimated industries across the world and in the United States.
“I’ve made it clear that President Biden and I will not accept that reality again.”
