Yellen says ‘no alternative’ to dollar, urges US-China cooperation for sake of the world

Yellen says ‘no alternative’ to dollar, urges US-China cooperation for sake of the worldFormer US Treasury secretary, in Hong Kong, discusses China’s ‘serious conflicts’ with other economies in trade, while warning of decoupling risks2-MIN READ2-MIN2ListenPublished: 11:00pm, 15 Apr 2026Updated: 11:17pm, 15 Apr 2026A decoupling between China and the United States is something “that you don’t want to see”, says former US Treasury secretary Janet Yellen, adding that both countries have developed deep trade and investment relationships that should be preserved and encouraged to thrive.Speaking in Hong Kong at the HSBC Global Investment Summit on Wednesday, Yellen also argued that China’s reliance on exports for growth – resulting in a trade surplus with the rest of the world – has created “serious conflicts” with advanced economies that are unwilling to “completely cede control of advanced manufacturing to China”.These are the issues that Washington must address through negotiations, she said.Select VoiceSelect Speed0.8x0.9x1.0x1.1x1.2x1.5x1.75x00:0000:001.00x