US Treasury Secretary Scott Bicent stated that the US does not seek to decouple its economy from China, but rather aims to mitigate the risks associated with that relationship amid ongoing competition between the two largest economies.
Scott Bicent, the US Treasury Secretary, addressed the economic relationship between the United States and China during a conference in São Paulo, stating that the US is not looking to completely decouple from China, but is instead focused on reducing the risks tied to this economic entanglement. He highlighted that both countries acknowledge the ongoing competition yet believe it can be managed in a fair and organized manner.
Bicent emphasized the importance of the economic ties between the two nations, explaining that decoupling would imply a significant reduction in the connectivity that has characterized their trade, investment, and supply chains. He pointed out that such a move could potentially lead to instability in the global economy, demonstrating the complexity and interdependence of the US and Chinese economic systems.
The remarks come amid rising tensions and strategic rivalries that have raised concerns regarding the actions of both nations, but Bicent’s assertions reflect a consensus that, while competition will continue, a complete separation is not currently a feasible policy option. The goal is to ensure that both economies can coexist while managing the risks that come with their intertwined relationships.
