Yellen works for the capitalist class, and they don’t like someone eating their lunch.

Step back for a moment, and the suggested policy change is remarkable. One of the most distinguished living economists is rejecting what’s been one of the most fundamental principles of economics for more than 200 years: comparative advantage. If a country can manufacture goods at lower costs than you can, you shouldn’t raise tariff barriers. Instead, you should import the goods, and send back something in return where your industry is more efficient.

The US has less and less to offer. The neoliberal capitalists deindustrialized the country, and our production costs are burdened by their financialization of everything.

Geopolitical Economy Hour:

• The debt explosion: How neoliberalism fuels debt crises
• Economic solutions: How to go from financialized neoliberalism to a productive, sustainable economy
• The truth about China’s economy: Debunking Western media myths

Article is paywalled, but come on this is Bloomberg

She did because the mercantilist policies of China worked and protecting certain industries was a part of Chinese economic policy.

Paywalled