Yellen Visits China to Address Industrial Policy Concerns and Boost Cooperation

• Yellen suggested US could protect new industrial sectors like clean energy from China's state investments • Yellen visiting China for 2nd time in 9 months to press on industrial overcapacity threats and boost cooperation • Chinese leaders pouring money into manufacturing new industries like EVs, batteries, renewable energy to boost slowing economy
• White House hinted at pending tariff decision after Biden raised "unfair trade policies" with Xi • Yellen spending 2 days in Guangzhou and 2 days in Beijing for talks with Chinese counterparts