Treasury Secretary Janet Yellen criticized China's industrial subsidies and advocated U.S. public investments for attracting private capital.

Treasury Secretary Janet Yellen advocated modern supply-side economics, criticizing China's massive state industrial subsidies as unacceptable. She emphasized the importance of U.S. public investments in attracting private capital for long-term sustainable and inclusive growth. Yellen argued that the traditional Republican model, relying heavily on tax cuts to stimulate investment, has failed to benefit enough workers.