Posted 4/5/2024, 3:04:00 PM
Yellen Affirms Economic Ties With China But Raises Concerns Over Unfair Practices and Overproduction
- Yellen affirmed economic ties with China but raised concerns about unfair business practices and overproduction of cheap goods
- She cited a survey showing 1/3 of American firms in China face unfair treatment and barriers
- Yellen warned of risks from Chinese manufacturing overcapacity flooding global markets
- China's economy has slowed, but it continues to subsidize industries like electric vehicles and solar panels
- Yellen said China's production capacity significantly exceeds domestic and global demand