U.S. Treasury Secretary Janet Yellen warns about China's industrial push risking global economic destabilization and diluting green-energy exports. Yellen emphasizes the need to address China's 'massive subsidies' on clean energy products and urges China to tackle overcapacity issues. China's shift towards consumption-led growth is highlighted, with concerns raised about diminishing returns from further investment. Yellen aims to stabilize the U.S.-China relationship and plans to explain the undesirable impact of Chinese subsidy policies during her visit to China.
Cleaner power sources should eventually dominate the global power mix, though fossil fuels will continue to be required, according to China’s top climate diplomat https://t.co/oYprUw2Jhz
“After over two decades of strong investment-led growth, China now needs consumption-led growth. Further investment will have diminishing returns unless China can consume more at home. Yet over the past two years, the opposite has happened.” https://t.co/WmAVj5GvwM
Yellen to urge China to address overcapacity issues https://t.co/EckddwFTX0
NEW: Xi tells Dutch PM Rutte ‘no force can stop’ China tech progress https://t.co/kyyJ5wkeWP
❖ YELLEN SAYS WANT TO STABILIZE, NOT SHUT DOWN RELATIONSHIP WITH CHINA
🔴 US TREASURY SECRETARY YELLEN: I WANT TO STABILIZE, NOT SHUT DOWN OUR RELATIONSHIP WITH CHINA.
Low-Altitude Economy in China - We are excited to share that, the Ministry of Industry and Information Technology, the Ministry of Science and Technology, the Ministry of Finance, and the Civil Aviation Administration of China jointly issued the "Implementation Plan for… https://t.co/lkOVNwcX0M
YELLEN SAYS INTENDS TO EXPLAIN 'UNDESIRABLE IMPACT' OF CHINESE SUBSIDY POLICIES WHEN SHE VISITS CHINA
'China's giant market once provided growth for American exporters, but the country is increasingly turning away from U.S. products in favor of those from other nations and homegrown manufacturers.' https://t.co/J3O2snnS1L https://t.co/4uEio5gC2b
❖ YELLEN SAYS U.S. NEEDS TO MAKE CLEAR ITS CONCERNS ABOUT CHINA'S 'MASSIVE SUBSIDIES' ON CLEAN ENERGY PRODUCTS
YELLEN SAYS U.S. NEEDS TO MAKE CLEAR ITS CONCERNS ABOUT CHINA'S 'MASSIVE SUBSIDIES' ON CLEAN ENERGY PRODUCTS
China's industrial push risks destabilizing the global economy and watering down green-energy exports, Janet Yellen warns https://t.co/IMKAgdlUTI