International Courant
U.S. Treasury Secretary Janet Yellen shakes fingers with Chinese language Vice Prime Minister He Lifeng earlier than a dinner within the southern Chinese language metropolis of Guangzhou, April 5, 2024.
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US Treasury Secretary Janet Yellen’s feedback on China’s extra manufacturing capability are repeating the rhetoric of the “China risk” and seeming to create a pretext for a extra protectionist coverage from the US, based on Chinese language state media.
Such feedback are geared toward undermining China’s home development and worldwide cooperation, and Washington ought to give attention to selling innovation and competitiveness inside its personal borders as an alternative of resorting to fear-mongering, state information company Xinhua stated in a press release late on Friday editorial commentary.
Yellen advised American businesspeople in Guangzhou, China’s southern export hub, on Friday that considerations in regards to the international financial fallout from China’s extra manufacturing capability are rising, making the problem the main focus of her four-day conferences with Chinese language officers.
Citing China’s overproduction of electrical automobiles, photo voltaic panels, semiconductors and different items flooding into international markets within the face of a stoop in demand in China’s home market, Yellen stated this was not wholesome for China and was hurting producers in different international locations.
“Speaking about ‘Chinese language overcapacity’ within the clear power sector additionally smacks of making a pretext for rolling out extra protectionist insurance policies to guard US firms,” Xinhua stated.
“It’s now recognized to the world that Washington won’t hesitate to point out its protectionist enamel beneath the guise of nationwide safety in areas the place its supremacy is challenged.”
Yellen met with Vice Prime Minister He Lifeng and Guangdong Province Governor Wang Weizhong in Guangzhou after arriving in China late on Thursday.
She’s going to journey to Beijing on Saturday, the place she is going to meet officers together with Premier Li Qiang and Individuals’s Financial institution of China Governor Pan Gongsheng via Monday, based on a finance ministry press advisory.
American criticism of Chinese language overcapacity repeats the rhetoric of the Chinese language risk: Xinhua
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