In this file photo taken on May 7, 2021 US Treasury Secretary Janet Yellen speaks during the daily press briefing, in the Brady Briefing Room of the White House in Washington, DC. Global equities marked time while the dollar dipped June 7, 2021 after US Treasury Secretary Janet Yellen downplayed fears over the prospect of higher interest rates triggered by a spike in inflation.
But she also raised concerns about the impact that China's excess industrial capacity could have on other countries. "Now, we see excess capacity building in 'new' industries like solar, EVs, and lithium-ion batteries," Yellen noted. "It is important to the president and me that American firms and workers can compete on a level playing field," said Yellen.
"We must also ensure that Chinese companies don't simply use our trade partners as a back door to the American market, or to distort it by locating minor operations here dependent on the Chinese supply chain in a way that displaces our emerging industries," said AAM President Scott Paul.
ANZ Research hiked its inflation forecast for the Philippines to 3.8 percent this year, from 3.5 percent previously, as risks...