Summers Warns Very Risky for US to Aim at ‘Tearing China Down’
- Former Treasury chief says better to focus on building up US
- Summers also says Fed now has communication in ‘right place’
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Former Treasury Secretary Lawrence Summers warned US policy makers to focus on building the country’s own economic strengths in its contest with China, rather than on attacking its adversary.
“If we change our focus from building ourselves up to tearing China down, I think we will be making a very risky and very unfortunate choice,” Summers told Bloomberg Television’s “Wall Street Week” with David Westin. The US should instead concentrate on its own innovation, infrastructure, education and challenges such as opioid deaths, he said.