Yellen Warning to China on Oversupply Seen Falling on Deaf Ears
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US Treasury Secretary Janet Yellen is in China to address the issue of oversupply of key manufactured goods, particularly clean-energy goods. Yellen warns that China is producing too much and that the world cannot absorb it. This oversupply is a result of years of government subsidies and weak demand at home. Yellen will convey her concerns to Chinese officials and emphasize that the excess production is unhealthy for China and is causing growing concern in major economies. However, Beijing is expected to continue investing in more manufacturing capacity in high-technology sectors, which is at odds with other major economies. Yellen's warnings may be an initial step towards new tariffs or trade barriers on Chinese goods. The visit will also cover other topics such as financial stability, climate change, and debt relief for developing nations. China's excess auto production capacity is estimated to be about 10 million vehicles per year. In the solar panel sector, China's overproduction has pushed prices down 42% and the country now accounts for 80% of global production capacity. Yellen's efforts to address overcapacity may face challenges as electric vehicles, lithium batteries, and solar panels are considered engines of growth for China.
#China #Oversupply #ManufacturedGoods #CleanenergyGoods #Tariffs #TradeBarriers #AutoProduction #SolarPanelSector #ElectricVehicles #LithiumBatteries
https://www.asiafinancial.com/yellen-warning-to-china-on-oversupply-seen-falling-on-deaf-ears
Asia Financial /
npub1tf…4lkk0
2024-04-04 11:03:46
Author Public Key
npub1tfqzenj4wwscy7hhrs7d9wygkqncl5ywgqlcc32lffwtg5yskruq74lkk0Published at
2024-04-04 11:03:46Event JSON
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"content": "Yellen Warning to China on Oversupply Seen Falling on Deaf Ears\n==========\n\nUS Treasury Secretary Janet Yellen is in China to address the issue of oversupply of key manufactured goods, particularly clean-energy goods. Yellen warns that China is producing too much and that the world cannot absorb it. This oversupply is a result of years of government subsidies and weak demand at home. Yellen will convey her concerns to Chinese officials and emphasize that the excess production is unhealthy for China and is causing growing concern in major economies. However, Beijing is expected to continue investing in more manufacturing capacity in high-technology sectors, which is at odds with other major economies. Yellen's warnings may be an initial step towards new tariffs or trade barriers on Chinese goods. The visit will also cover other topics such as financial stability, climate change, and debt relief for developing nations. China's excess auto production capacity is estimated to be about 10 million vehicles per year. In the solar panel sector, China's overproduction has pushed prices down 42% and the country now accounts for 80% of global production capacity. Yellen's efforts to address overcapacity may face challenges as electric vehicles, lithium batteries, and solar panels are considered engines of growth for China.\n\n#China #Oversupply #ManufacturedGoods #CleanenergyGoods #Tariffs #TradeBarriers #AutoProduction #SolarPanelSector #ElectricVehicles #LithiumBatteries\n\nhttps://www.asiafinancial.com/yellen-warning-to-china-on-oversupply-seen-falling-on-deaf-ears",
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