Despite Sino-American cooperation on the fentanyl crisis, new incentives are making Chinese money laundering operations stronger.
Illustration by Ellie Foreman-Peck
Janet Yellen’s April trip to China was, somehow, even more resounding a success than her first, the previous July, when Chinese netizens marveled at her choice to eat a rare and sometimes-hallucinogenic Yunnanese mushroom. This time around, the Treasury Secretary was praised for her chopstick mastery and modest style, which, observers pointed out, stood in stark contrast to Chinese officials’ flashy suits and entourages of umbrella-wielding apparatchiks.
Source: @SecYellen via X
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The former Biden official and China scholar makes the case for the previous administration's approach and discusses why Beijing is content to watch the U.S. now dismantle its sources of strength
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