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The world order is at risk of a lasting split, with the United States and its allies on one side and China and its partners on the other.

As U.S. Treasury Secretary Janet Yellen noted at an Atlantic Council event last month, this outcome is far from desirable, and the U.S. must work with China to prevent it. But, practically in her next breath, Yellen advocated actions that could thwart such an effort.

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