WASHINGTON -U.S. Treasury Secretary Janet Yellen said on Tuesday that China's massive investments in advanced manufacturing of clean energy goods have resulted in an unfair playing field that puts American workers and businesses at risk, and it needs to be mitigated.
"So this isn't a level playing field. And from a supply chain standpoint, I think it creates risks that we're clearly seeking to mitigate and it's also unfair to our workers and firms," Yellen said as she prepared to start a new round of meetings with Chinese officials. But U.S. officials had also engaged in important discussions with senior Chinese officials regarding China's industrial policy practices and the negative spillovers that overcapacity could create for the global economy.
He read a statement from former Vice Premier He Lifeng, in which He thanked Yellen for"programmatic, in-depth and constructive" talks in China and said he hoped the two sides would continue to deepen their exchanges.Why, because they made the investment that we wouldn't do? I thought we were the proponents of free market operations.