China is not a competitive threat to US: Federal Reserve’s Kashkari

MINNEAPOLIS Federal Reserve Bank President Neel Kashkari said on Monday he does not consider China to be an economic threat to the United States, or believe the Chinese yuan could replace the US dollar as the world’s reserve currency.

“The actions that they are taking are literally anti-competitive,” Kashkari said in a talk at Torcuato di Tella University in Argentina, referring to what he said were political crackdowns on innovative businesses in China, including in artificial intelligence.

“For now I think the US competitive position is very, very strong.” REUTERS