Even before the pandemic, the us and china were clashing on a number of issues, including trade. i spoke to stephen roach, a senior fellow at yale university, and asked him if ms yellen�*s speech was a way for the biden administration to dial back some tensions. what i saw from secretary yellen, who i am a huge fan of, was a clear emphasis on security over economics and by ranking security at the top of the agenda, that pretty much turns the hopes for engagement on their head. economics has long been the anchor of the us—china relationship. if we get the economics and trade right, then we ...