Transcript: Treasury Secretary Janet Yellen on "Face the Nation," July 9, 2023

The following is a transcript of an interview with Treasury Secretary Janet Yellen that will air on "Face the Nation" on July 9, 2023.

MARGARET BRENNAN: And joining us from Beijing is Treasury Secretary Janet Yellen. It has been a whirlwind trip for you, Madam Secretary. The Biden administration has argued that Xi Jinping, China's president, wants to replace the U.S. as the most dominant economy with the most military capable force he can build. How do you avoid a clash between our two countries?