US Treasury Secretary begins second visit to China

US Treasury Secretary Janet Yellen began a visit to China this week to raise concerns about China's overcapacity.
According to Voice of America, US Treasury Secretary Janet Yellen arrived in China's southern economic center, Guangzhou, on April 4 for her second visit to China since taking office. In his visit, he aimed to further stabilize the financial and economic relations between China and the United States. During the visit, he also claimed that China had increased its production scale, which the international community could not tolerate.
China has reportedly flooded world markets with electric cars, batteries, solar panels, semiconductors and other products due to years of massive subsidies and weak domestic demand. Global prices for many products have fallen sharply, putting pressure on producers in many countries.
According to a related report by Reuters, a senior official of the US Department of the Treasury commented on China's production capacity exceeding demand in key sectors: "We see that many companies are at risk of losses. "They are forced to think about ways to market their products."
It appears that Janet Yellen will hold talks with top Chinese economic officials from April 5th to April 8th to convey the view that overproduction is not good for China, and there is growing concern and criticism about it in the US, Europe, Japan, Mexico and other major economies.
94 people read this News!
06/04/2024
COMMENTS
Leave a comment
There are 0 comment.