- In order to lessen the world’s reliance on “risky countries” like China, US Treasury Secretary Janet Yellen has proposed a new vision for international commerce.
- Western businesses have already started moving production away from China to nations like India and Vietnam in an effort to lessen dependence on China, which Yellen has dubbed “friendshoring.
- “Yellen also referred to First Solar, a US-based manufacturer of solar panels, and its $648 million plan to erect a 3.3 gigawatt (GW) facility in Tamil Nadu.
Janet Yellen pitches a global trade route away from China during her maiden trip to India.
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