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Yellen says China’s rapid buildout of its industry ‘distorts global prices’

Anonymous Thu 28 Mar 2024 16:16:23 No.1282463 View View Report

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Link: https://apnews.com/article/china-yellen-manufacturing-treasury-economics-69fa4b2bf1dca8ca408381189383717a

>Treasury Secretary Janet Yellen called out China’s ramped-up production in solar energy, electric vehicles and lithium-ion batteries, calling it unfair competition that “distorts global prices” and “hurts American firms and workers, as well as firms and workers around the world.”

>Yellen, who is planning her second trip to China as Treasury secretary, said Wednesday in Georgia that she will convey her belief to her Chinese counterparts that Beijing’s increased production of green energy also poses risks “to productivity and growth in the Chinese economy.”

>“I will press my Chinese counterparts to take necessary steps to address this issue.”

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