Janet Yellen Urges China to Rein In Excess Industrial Capacity

Yellen Urges China's Central Bank

U.S. Treasury Secretary Janet Yellen is advocating in China for the reduction of excess industrial capacity and the expansion of domestic demand. Yellen's efforts aim to address concerns around China's extensive production of green-energy goods, which she argues could negatively impact global employment.

Key Points:

• Overcapacity Concerns: Yellen raises issues about China's surplus production in electric vehicles, batteries, and solar panels.
• Job Threats: State support has led to an imbalance between production capacity and domestic demand, potentially jeopardizing jobs in the U.S. and other nations.