Yellen to urge China to address overcapacity issues

📆 2024-03-27 오후 11:58:00
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A surge in cheap exports from China in industries like electric vehicles could bring 'global spillovers,' US Treasury Secretary Janet Yellen is due to warn in a speech on Wednesday. 'Now, we see excess capacity building in 'new' industries like solar, EVs, and lithium-ion batteries,' Yellen is due to say.

US Treasury Secretary Janet Yellen is expected to make the risks of excess capacity a key issue in discussions during her next China visit, according to prepared remarks. Photo: ALEX WONG / GETTY IMAGES NORTH AMERICA/Getty Images via AFP/FileA surge in cheap exports from China in industries like electric vehicles could bring"global spillovers," US Treasury Secretary Janet Yellen is due to warn in a speech on Wednesday.

Yellen, who plans to take her second trip to China as Treasury chief this year, is expected to deliver these remarks in Georgia.But excerpts of her speech indicated concerns as well about the impact that China's excess industrial capacity could have on other countries.support in sectors like steel and aluminum in the past"led to substantial overinvestment and excess capacity that Chinese firms looked to export abroad at depressed prices," according to Yellen's remarks.

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