NEW DELHI: The commentary from Xinhua, a state information company, advised that US treasury secretary Janet Yellen’s remarks concerning China’s surplus manufacturing capability remarks are harking back to the “China threat” narrative and will function a justification for additional protectionist measures from the America. Xinhua’s editorial, launched late on Friday, asserts that such feedback goal to undermine China’s home financial improvement and worldwide collaborations.As an alternative, the editorial means that Washington ought to prioritize fostering innovation and competitiveness inside its personal borders, somewhat than resorting to fear-mongering techniques.Yellen’s feedback had been made throughout discussions with US enterprise figures in Guangzhou, a distinguished export heart in southern China. She expressed issues concerning the international financial implications of China’s surplus manufacturing capability, which has led to an inflow of products reminiscent of electrical autos, photo voltaic panels, and semiconductors into worldwide markets, exacerbating the challenges confronted by producers in different international locations.Xinhua’s editorial interprets Yellen’s emphasis on ‘Chinese language overcapacity’ in sectors like clear vitality as doubtlessly laying the groundwork for the implementation of extra protectionist insurance policies geared toward shielding US corporations. The editorial means that such actions would align with a sample the place america leverages nationwide safety justifications to implement protectionist measures, significantly in areas the place its dominance is perceived to be below risk.Yellen’s go to to China included conferences with Vice Premier He Lifeng and Guangdong Province governor Wang Weizhong in Guangzhou, adopted by scheduled engagements in Beijing with officers reminiscent of Premier Li Qiang and Folks’s Financial institution of China governor Pan Gongsheng. The go to, spanning 4 days, seems to be targeted on discussing numerous financial points and bilateral relations between the 2 international locations, based on info offered by the US Treasury.(With company inputs)
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