U.S.-China fight over manufacturing subsidies just getting started

Yellen's attempts to persuade Beijing to change course fell on deaf ears

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Janet Yellen, left, with Chinese Premier Li Qiang in Beijing on April 7: The U.S. Treasury secretary tried to persuade her counterparts to focus on bolstering domestic demand. © Reuters

Stephen Olson is senior adjunct fellow with the Pacific Forum, a foreign policy research institute based in Honolulu, Hawaii, and a visiting lecturer and nonresident fellow with the Clayton Yeutter Institute of International Trade and Finance in Lincoln, Nebraska.

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