Yellen to urge China to address overcapacity issues
==========
US Treasury Secretary Janet Yellen is expected to raise the risks of excess capacity in China's industries like electric vehicles during her next trip to China. Yellen plans to press Beijing to take necessary steps to address this issue and highlight the benefits of President Joe Biden's Inflation Reduction Act. She will also express concerns about China's excess industrial capacity in sectors like steel and aluminum, which have led to overinvestment and depressed prices. Yellen notes that overcapacity in 'new' industries like solar, EVs, and lithium-ion batteries could distort global prices and production. US companies have long complained about an unfair business environment in China.
#UsTreasurySecretary #JanetYellen #China #Overcapacity #ElectricVehicles #IndustrialCapacity #Steel #Aluminum #GlobalPrices #Production #BusinessEnvironment
https://www.tuko.co.ke/business-economy/542883-yellen-urge-china-address-overcapacity-issues/
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2024-03-27 15:33:21
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npub15ygdhawp2prr6xlzleujfs0hy9g3yvzgzv6pj49afh5sf5q8tfcqdjzncwPublished at
2024-03-27 15:33:21Event JSON
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"content": "Yellen to urge China to address overcapacity issues\n==========\n\nUS Treasury Secretary Janet Yellen is expected to raise the risks of excess capacity in China's industries like electric vehicles during her next trip to China. Yellen plans to press Beijing to take necessary steps to address this issue and highlight the benefits of President Joe Biden's Inflation Reduction Act. She will also express concerns about China's excess industrial capacity in sectors like steel and aluminum, which have led to overinvestment and depressed prices. Yellen notes that overcapacity in 'new' industries like solar, EVs, and lithium-ion batteries could distort global prices and production. US companies have long complained about an unfair business environment in China.\n\n#UsTreasurySecretary #JanetYellen #China #Overcapacity #ElectricVehicles #IndustrialCapacity #Steel #Aluminum #GlobalPrices #Production #BusinessEnvironment\n\nhttps://www.tuko.co.ke/business-economy/542883-yellen-urge-china-address-overcapacity-issues/",
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