As U.S. Treasury Secretary Janet Yellen appeals to Chinese leaders to change their domestic manufacturing policies on the second day of an official visit, state media are receiving her message with skepticism, and anxiety about more U.S. tariffs on gre.
As U.S. Treasury Secretary Janet Yellen appeals to Chinese leaders to change their domestic manufacturing policies on the second day of an official visit, state media are receiving her message with skepticism, and anxiety about more U.S. tariffs on green energy products.
Yellen, who started her five-day visit in one of China’s major industrial and export hubs, has focused thus far on what the U.S. considers to be unfair Chinese trade practices in talks with senior Chinese officials.
The official Xinhua News Agency wrote Friday night that while Yellen’s trip is “a good sign” that the world’s two largest economies are maintaining communication, “talking up ‘Chinese overcapacity’ in the clean energy sector also smacks of creating a pretext for rolling out more protectionist policies to shield U.S. companies.”
Chinese government subsidies and other policy support have encouraged solar panel and EV makers in China to invest in factories, building far more production capacity than the domestic market can absorb.
