Yellen to China: you’re making too much stuff
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Yellen to China: you’re making too much stuff
Loveworld / 37 mins
April 8, 2024
1 min read
The U.S. Treasury Secretary says the country is producing too much of everything, and the world can’t absorb it all.
Yellen arrived in Guangzhou on Thursday (April 4) for days of meetings with top economic officials.
In talks Friday with the governor of Guangdong province, she wasted no time getting to the point: China is said to have unleashed a flood of cheap goods onto global markets. That has prices for many goods tumbling, putting pressure on producers in other countries, including the United States.
Yellen identified electric vehicles and solar panels as among areas of concern. Now she wants to convince China that curbing the excess would be in its own interest. She’s also expected to raise concerns that China is becoming a less friendly place for foreign firms and investors according to the United Sates.
