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Mr Vance has also criticised Europe's overdependence on the US in foreign policy - potentially straining US-UK relations.

He worries about overdependence on automated and electronic systems.

The catastrophic shortage is a result not just of a surge in cases, but also of an overdependence on a single vaccine manufacturer, EuBiologics in Seoul, South Korea, whose production capacity is limited.

Li's speech comes amid calls over the past year from the United States and the European Union to "de-risk" their supply chains and reduce overdependence on China in certain sectors, as well as efforts to cut off Chinese enterprises from some advanced semiconductors.

Yellen repeated that the United States was not seeking to decouple from the Chinese economy and said she welcomed continued trade and investment in "uncontroversial" sectors, but the Biden administration would work on "de-risking" supply chains that have an "undue overdependence" on China.