US-China Tensions Mount Over Trade, Tech Dominance

• Industrial overcapacity - US concerned cheap Chinese exports could flood markets, working to build own supply chains in areas like EVs. Fears China could export excess production.

• Treatment of businesses - 1/3 of US firms in China report unfair treatment compared to local competitors. Yellen to meet with US businesses in Guangzhou.

• National security - US pushing to limit China access to sensitive data and investments in semiconductors, AI. China warns against divisive security policies.

• "Friendshoring" and competition - US strategy to shift supply chains to allies concerns China. Tensions over green subsidies, technology access.

• China using export controls on metals, banning certain US tech firms in retaliation. Both sides battling for tech superiority.