US criticism of Chinese language overcapacity rehashes ‘China menace’ rhetoric: Xinhua

U.S. Treasury Secretary Janet Yellen comments on China’s excess manufacturing capacity search to rehash “China threat” rhetoric and seem to create a pretext for extra protectionist insurance policies from the U.S., Chinese language state media stated.

Such feedback search to undermine China’s home progress and worldwide cooperation, and Washington ought to deal with fostering innovation and competitiveness inside its personal borders as a substitute of resorting to fear-mongering, state information company Xinhua stated in an editorial late on Friday.

Yellen advised U.S. businesspeople in China’s southern export hub of Guangzhou on Friday that considerations are rising over the worldwide financial fallout from China’s extra manufacturing capability, making the problem the main focus of her 4 days of conferences with Chinese language officers.

Citing China’s overproduction of electrical automobiles, photo voltaic panels, semiconductors and different items which can be flooding into international markets within the face of a requirement droop in China’s home market, Yellen stated this was not wholesome for China and was hurting producers in different nations.

“Talking up ‘Chinese overcapacity’ in the clean energy sector also smacks of creating a pretext for rolling out more protectionist policies to shield U.S. companies,” Xinhua stated.

“After all, it is now known by the world that Washington will not hesitate to show its protectionist teeth under the guise of national security in areas where its supremacy is challenged.”

Yellen met with Vice Premier He Lifeng and Guangdong Province Governor Wang Weizhong in Guangzhou after arriving in China late on Thursday.

She is to journey on Saturday to Beijing, the place she is going to meet officers together with Premier Li Qiang and Individuals’s Financial institution of China Governor Pan Gongsheng by means of Monday, in response to a Treasury press advisory.