Bloomberg Opinion: Yellen Junks Economics to Block China Clean Tech

US Treasury Secretary Janet Yellen is wrapping up her China visit by repeating her warning about overcapacity, especially in sectors including EVs and lithium batteries. Bloomberg Opinion columnist David Fickling says that viewpoint is a "protectionist disaster" that could muddy the path to net-zero emissions.

[@jcteo1]

The U.S. has an overcapacity for printing money.

[@MegaTonyng]

US has an over capacity for hypocrisy 😂😂😂

[@lauriebarns9901]

Just look at the increase in M2 in China - no one is printing more currency than ccp.

[@MegaTonyng]

@@lauriebarns9901China's total debt ($47.5 trillion) is still markedly below that of the United States (close to $70 trillion)

[@lauriebarns9901]

@@MegaTonyng us debt is $32 trillion.

[@chrislee5685]

@@lauriebarns9901 China not reserve currency duh. China debt it their own while US debt are push to world.

[@isaackys]

Only yesterday they were saying China was collapsing, now they were saying China is too powerful.

[@haoyeleong541]

Monday, Wednesday, Friday = China collapsing Tuesday, Thursday, Saturday = China threat Sunday = Rest day

[@drscopeify]

I did not hear Yellen say that China is collapsing. China is in transition as expected as their manufacturing has run out of customers and the construction-debt boom has run out of steam. China has deflation and domestic consumption is at decade lows and so has to transition. The west however will do what it takes to protect their own economies as China tries to compete this is not a surprise. The world has only so much supply and demand capacity, either China works together with the west on a fair and stable global economy or the sides compete and pull away leading to major shifts globally and a lot of pain a well, we will see how this plays out.

[@nmew6926]

​@@drscopeifyI remember Western propaganda in the early 1990s aimed at China: "Without (western) democracy there is no development". It was a total BS statement

[@nmew6926]

10 years later, Western propaganda came out with another BS statement: "Without democracy, there is no *SUSTAINABLE* development

[@nmew6926]

Another 10 years later, Western propaganda pull out another BS: "No country can develop and grow indefinitely.. It needs (western) democracy acting as a pressure value so that dissatisfied people may vent their anger.. blah.. blah.."

[@nulnoh219]

Complain about China being polluting. China makes cheap solar panels and EV cars. USA still mad.

[@esphilee]

And wind mill farm.

[@JohnLee-db9zt]

Yet China burns more fossil fuel than any other country on earth.

[@n3g774]

Environmental protection is just an excuse to prevent others from developing. When they found that China could not be stopped through environmental protection, they abandoned it without hesitation.

[@mariajiao4855]

They just hate the Chinese, regardless of what they do. Racists pretend not to be racists.

[@adamoliver4094]

China still uses more coal than all the other countries in the world combined.

[@willeisinga2089]

Thank China for Affordable Life. Affordable EV Cars. Affordable Solar. Affordable Batteries. Affordable Communication. Affordable Roads Rail Bridges Hospitals Schools. Clean Air Blue Sky Health Better Life. Thank You China ❤️

[@JohnLee-db9zt]

Ok 50 cent army 😂

[@tristanx3508]

@@JohnLee-db9zt It's okay, you don't have to work so hard for free keeps on typing the same cliche reply claiming other as 50 cent, at least they earn something. You? So brainwashed to the point of working for free.

[@aaabbb-py5xd]

@JohnLee-db9zt Fifty? Lol yeah baby, cuz I'm gonna party like it's your birthday, and icing on cake the cake will be "Snuffed is your disSeNt". Btw, like the overwhelming majority of Chinese people, I'd say here and free of charge: "Godspeed to the Chinese Communist Party". That and I drink your diSsiDenT tears because your problems were created by yourself. And your detox is not anybody else's problem.

[@lauriebarns9901]

Agree with what you say, But ccp is most corrupt form of government. Clearly Xi can use corruption to get rid of opponents, because they are all guilty. What has become the worst sin, is trying to improve the lives of Chinese citizens.

[@fatdoi003]

@@JohnLee-db9zt stick to your apple and samsung phones...

[@morgenknas]

The only thing the US can produce cheaply is the US dollar. Maybe that has got something to do with all this?

[@Andy-P]

Hugely subsidised Chinese products and CCP policy of exporting out of their economic problems

[@MickZorro]

That's true, very funny, and also sad, all at the same time!

[@spaceballs72]

​@@Andy-P you are so brainwashed that you think that being productive and producing more stuff is a bad thing.

[@RickBlaine]

@@Andy-P But didn't China's economy collapse back in 2002, 2003, 2004 2005 2006 etc. Keep up with the story, you can't have if both ways!

[@DC-qn4wz]

🤣🤣🤣

[@ghtwghtw7197]

america: we are losing. stop making us look so incompetent.

[@tiktoktrending2635]

Boycott China 🤮

[@aramtime7368]

china : we are better then everyone. No one can stop us.

[@drscopeify]

That is a very mistaken statement becasue you make the USA look like an innocent player, like a weak player, when it is the USA that created the world economy we all live in, everyone in China, every single Chinese person is living in a world economy order that the USA created. And the office that Yellen leads over destroyed the British Empire, the most powerful Empire in history weas destroyed by the entity that Yellen leads. As such your comment is ignorant and blind. You are not doing Chinese propaganda very well my friend.

[@bradleyp3655]

That is not hard. Privatization and corporate capture of government does not work. That is why China is thriving and the Western nations are economically and politically collapsing. They don't allow one major problem with capitalism. Lobbying.

[@hehe-mq2bk]

@@bradleyp3655 i am actually disturbed lobbying exists. It is directly AGAINST the interest of the people!

[@danwelterweight4137]

What a bunch of nonsense. Percentage of Chinese cars in the American market is 0% Percentage of American cars in the Chinese market is like 25%. As a matter of fact American car makers make more money in China than they do in the United States Percentage of Chinese cars in Europe is 8% Percentage of European cars in the Chinese market is 20% Same thing, European car makers can't make money in Europe. The only place where they make money is in China. If anyone should be complaining about over capacity is China to Europe and the United States. Furthermore, what exactly do they want the Chinese government to do tell their auto industry to stop manufacturing cars. I thought the free market involved the government allowing the private sector to have the freedom to make it's own decisions. Government interference in the pivate industry is not capitalism. You guys who are champions of the free market want the Chinese to implement state control over their own industries and make them cut production. What kind of nonsense is that. What happened to letting the market take care of itself?

[@pabloc.282]

This is so messed up. The US can monopolize the AI GPU production, but China can't do the same with their strenghts?

[@marktrinidad7650]

I mean that should be right. America can only do these things because we are America. We are an exception, a global phenomenon the world looks with jealousy.

[@Andy-P]

China can put a import ban on American tech then. Save US export bans

[@Hierarchy_Of_Power]

Hypocrisy is their birth right.

[@laughoutloud3404]

WHITE IS RIGHT

[@JohnLee-db9zt]

China is not our friend and never played on even playing field. It steals our IPs to get competitive advantage. So yeah we don’t need to play on the same playing field as China. Stop being a China apologist. You reek of 50 cent Chinese army.

[@ximinghu9456]

If you cannot win through fair competition, you could still beat your competitors through smearing!😏

[@aramtime7368]

Stealing US tech is fair? Go back to eat your rat then LOL

[@petergreen5337]

Exactly

[@JohnLee-db9zt]

50 cent Chinese army😂

[@wowyzaoy]

ouch!

[@lauriebarns9901]

How can you even argue that anyone is smearing? You have zero access to reality.

[@matt3935]

Ah America just looks worse and worse.

[@drscopeify]

Ah yes, China's 50 cent army. The funny thing is that China is the one in deflation and has hit the peak of a construction-debt system that has run out of steam.

[@spvlinn9009]

We buy zero EV from china and BYD makes it clear that they are not interested in selling their product to us. Then why concern for what?

[@Hierarchy_Of_Power]

Americans are jealous and scared of others buying Chinese cars.

[@drscopeify]

They do want to sell cars in the USA 10000% of course. Look at Germany and Japan, China wants to join in as well and be a major car manufacturer for the USA but it will be required to make the cars in the USA however what percent of parts, batteries are made in China that is the question. We will see how this develops.

[@soowo5942]

Don't know.

[@F3CKTHEZIOS]

BYD building factory in Mexico and can enter USA with low tax.

[@ddwitdaysl]

byd's pricing in Europe (£20,000 €23,326) is becoming very competitive

[@ielee1765]

China is nearly 4 times the size of USA, what is she talking, stating the obvious. China goods are afordable to all and not more than 10 times more because the China GDP per capita is 10 times less hence cost of living is lower, raw materials are lower, cheaper fuel, etc. this is the reason why China is very competitive. If American don't want the cheap Chinese EV & other made in China goods they can always choose others. Think about the hundreds of poorer countries, stop creating these false security risk narrative because China help the poorer countries to progress & developed. The USA are welcome to do the same help the poorer countries, such as reduce carbon foot print, built infrastrutures, ports, & power plants, etc. Don't try to stop or slowdown China.

[@F3CKTHEZIOS]

you're right. thanks to china, only because of them people in poor or developing countries get to enjoy smart technology from smartphone to home appliances / solar all the other tech things which are great quality at reasonable price. if rest of the world was dependent on western product half of planet would still be lacking basic tech cause of their expensive price. not only they help with such things but also help underdeveloped countries with infrastructure from bridges to ports / power plants / railways everything.

[@wensun8133]

Shortly after Yellen's defamation of "overcapacity", a spokesperson for the Chinese Ministry of Foreign Affairs quoted Mao Zedong as saying that China was "lifted" into the United Nations by developing countries, and has always been a close partner of developing countries.

[@randot6675]

The US is only interested in extracting value from smaller countries. Why build railways or hospitals for a colony that you want to keep poor after all? They'd be selling things at higher prices once they develop, and oh wouldn't that be awful for poor sad America?

[@randot6675]

To China(and India), most of the smaller countries in Asia are seen as trade partners, and have been for millennia before the Renaissance brought the Europeans to Eastern shores directly for the first time ever, allowing them to finally circumvent those pesky middlemen from the middle east etc. Thus, after a four or five centuries of colonisation, the US, being late to the party, does not have the aforementioned diplomatic relationships that eastern superpowers has with small Asian countries. Therefore, to the US, countries like the Philippines, Indonesia etc are not trade partners, but rather vassal states. And they dare decry whatever perceived slights observed on this side of the globe whenever any so called "developing country" tries to "rise above their stations", as if their double standards absolve them of their own hypocrisy, considering how the CIA's efforts alone may have contributed to the greatest amounts of political stagnations in recent history just to keep the US at the top of the food chain a little bit longer after ww2

[@lalatubby4836]

@@randot6675 nicely put 👍

[@kelel6656]

Imagine being on a loosing team and the coach telling the opposing coach to stop scoring so many goals because it's not good for the loosing team. 😂😂😂

[@david50665]

then have the audacity to say it is not only good for the loosing team but good for the winning team as well to ensure everyone knows they r doing so out of pure goodness!

[@efemitchellamrohore4156]

😂😂😂😂😂😂😂😂

[@James-mc5hc]

Capacity is dictated by demand. No demand factories closes down. BS.

[@Andy-P]

Agreed. Non Chinese manufacturers will close down

[@kamsunleong6648]

​@@Andy-P Be competitive then.

[@privacyhelp]

@Andy-P Instead of wasting on war, the US could use it for incentives and subsidies to domestic industries.

[@Andy-P]

@@kamsunleong6648 Agreed. Do what China does - subsidies and tariffs

[@Jamie-nt3eh]

you can create demand by setting attractive prices

[@praveenspike]

America should take this as an advantage, importing cheap goods for its people. When the nation is already in a situation were its own govt spending is far more higher than its own tax revenue that it needs to borrow more to sustain.

[@Andy-P]

If the CCP were not targeting high value products then yes

[@markosmataasii2000]

@@Andy-P Lol. And you're complaining on the country for having a vision to grow? Now innovation is bad these days? Well typical westoids don't understand economics. If your war freak US is spending much in infrastructure & education than instigating wars and producing bombs these days, just maybe your Yellen is not in CHINA begging. Gets?

[@superchargerone]

@@Andy-P lol what does that even mean? so you are saying they should only produce undies and socks while usa makes iphones? lol are you ok mate? you dont make sense. hope you were not dropped repeatedly on your head as a kid.

[@kamsunleong6648]

​@@Andy-P EVs are not exactly high value products.

[@Andromeda365]

@@Andy-P so china shouldn't move up the value chain and stick to selling t-shirts and toys.

[@alainmcin]

When she says the world, she means the US

[@sfoster18sf]

What a predicament. Love the free market when it works for us. Not when it works against us. How do you regulate this? Tariffs, but what are the repercussions?

[@choonhockong8215]

Spot on

[@Andy-P]

Agreed. China been doing it for years

[@david50665]

it is actually working if USA just let the free market run its course it will improve standard of livings of both USA and China but instead they want to play tribal politics. So it is not working against USA it's just they want to make sure China cannot be a tech leader in any sector even if it is bad economics....Lose lose strategy...

[@liamporter1137]

I think China should tell US to tell Apple to produce fewer iPhone, Microsoft selling fewer Windows licenses 😂😂😂

[@Andy-P]

Agreed They could do that

[@privacyhelp]

It would be better to tell America's mcd, burgerking, kfc, starbucks, etc.. to produce less junk food.

[@esphilee]

China should stop using Apple and Microsoft, seriously.

[@fannyalbi9040]

@@esphileethey already started, that’s y sale fell 20%+

[@thebridgepodcast5463]

And Starbucks to sell fewer cups of coffee. I had one this morning though in Beijing, China.

[@VL-inquisitor]

When it comes to advancing the Global Warming agenda, a student is complaining that the best student is doing too good. He also lobbies other students to boycott the best student.

[@checkoutmyyoutubepage]

Who says the planet was built for the car?

[@jjsamuelgunn1136]

America is basically telling China to stop studying so hard because the academic grades they are scoring are 'too high'. Otherwise we will stop ban you from getting places in colleges and universities. Wait a minute... that's exactly what they are doing in the American education system.

[@JohnLee-db9zt]

Yet China burns more fossil fuel than any other country on earth.

[@Yarhnam]

It's clean tech ,come on US !!! It is beneficial for developing countries while US is over building military bases around the world and dont complain ???

[@kaimingraymondchoi9909]

Yellen’s message to China and indeed to the world:- Although American’s unemployment is much lower than China, China has to cut its production capacity and increase unemployment further to keep Americans fully employed. All men are equal, but Americans are more equal than the others. Although China’s production of cheap and reliable green energy products are definitely beneficial for the planet, it is against US interest and hence should be stopped. Some three four years ago, the Commercial Department of United States started ordering American importers to cut their orders to China causing significant drop in export. To Yellen this is level game play. In spite of the fact that the aforesaid is one of the key reasons for “over capacity” in China, the Chinese government should always be blamed. The one and only over capacity industry in the world is the US military industry. In order to sustain the over capacity of this industry, US government has continuously provoke conflicts everywhere in the world in the last 30 years.

[@alanssshh]

well said

[@hansolo8225]

Translation: The United States high volume manufacturing is not competitive with China. So we cry like a toddler that it’s not fair!!!!

[@medialcanthus9681]

Don't stop China from making money. They have to feed 1.4 billion people.

[@Andy-P]

They could increase domestic consumption so Chinese consumer more of what they make

[@medialcanthus9681]

@@Andy-P how to change a culture ? Chinese are savers. Also how to change a culture of hard work?

[@Andy-P]

@@medialcanthus9681 how indeed?

[@markosmataasii2000]

​@@Andy-P FYI, majority produced by CHINA is consumed by CHINA. One prime example is the EVs, CHINA's CAR including EV market is so large which is far larger than even US+Japan+India combined. You think majority of Chinese EVs products are sold outside CHINA. FYI, only less than 10% of produced by these CHINESE companies are sold outside. Another prime example, is what these Yellen is yapping about renewable energy. The biggest market for renewables is CHINA. Majority of the global demand is from there and it make sense that majority of the big renewable companies are being there. Simple ECONOMICS which majority of westoids like you don't understand these days....

[@Andy-P]

@@markosmataasii2000 I think US Government in its open system know the scale of Chinese exports and production. Insulting people doesn't help the CCP influence westerners

[@wallacekatini3424]

Yellens yelling abd squealing CANNOT hinder China's powerful and unstoppable growth!😂😂😂 Now the US has resorted to YELLING?😂😂

[@jogana6909]

Efficient production does not mean overcapacity. Trade protection will only make US companies lazier and fatter.

[@alystero8838]

​@@jogana6909not just lazier and fatter, it'll also become a huge tax burden to tax payers.

[@markosmataasii2000]

@@jogana6909 It's not fatter but becoming zombies. Imagine the majority of these US companies have much profits coming from overseas selling their overpriced useless products & services are now struggling to find new markets because as I said their products & services are awful & not competitive.

[@wroughtforge7547]

What about overcapacity on military bases

[@oka2046]

Hey the US is now simply too large for the rest of the world to absorb this enormous capacity of Tesla, Apple, Coca Cola, Boeing, Nike, Disney, Microsoft, Starbucks, Intel, IBM, McDonald's, KFC products (and the list goes on).

[@haoyuan8463]

top of the list, weapons

[@jcteo1]

“Overcapacity” 😂 Got to give it to American politicians. When you can’t compete, blame your opponent for running too fast. It is so embarrassing.

[@e_valley2707]

The language is that of "dumping" but the US can't use that so it invents "overproduction" - show us the supply/demand stats; protectionism indeed.

[@Andy-P]

She knows. China produces 3x world demand solar panels. People now use them to pave drives.

[@e_valley2707]

@@Andy-P ... I'm from Missouri... show me ...

[@DDGGVVMM]

never knew a country could dictate how much another country can produce

[@user-km2bz8iy5o]

If Chinese companies is willing sell us goods more cheaply than every other supplier we should be thanking them

[@thomastang3140]

Microsoft OS is installed in almost all PCs and laptops, so by the same logic, it is over-capacity! Is she really an economist?

[@maxhuang2254]

Yellen's current status is that of a politician. She's the kind who talks nonsense and shirks responsibility.

[@vertikultursg8532]

Translation: "Hey, you have to be as incompetent as us. Otherwise we deemed it as unfair"

[@zackwang9314]

The US government must protect americans from cheap products. Inflation is the way to go

[@Starwarrior9831]

Rate cuts by Fed is always round the corner but forever out of sight

[@habibcisse9809]

😂😂😂 stop printing money and inflation will go away 😂

[@fannyalbi9040]

is not protecting american but the elite few

[@amunra5330]

Yellen cannot stop 1.4Billion people from their ambitions.

[@antihypocrisy8978]

Never underestimate how low they can go.

[@aramtime7368]

Bro 1 Billion of them have 140$ a month...

[@RickBlaine]

@@aramtime7368 So Google personal savings of the "CCP slaves!" Now google the credit card debt for your own country.

[@danwelterweight4137]

​​​​@@aramtime7368Yet 70% of Americans don't even have $2000 in cash at hand for an emergency or rainy day while in China 70% of Chinese do have $2000 in cash at hand saved for an emergency or a rainy day. Meaning that if most Americans got a heart attack or a stroke they would not even be able to afford to pay for the ambulance ride taking them to the hospital out of their own pocket, nevermind the medical care they would need once they got there. They would need to borrow it from their credit card or get a loan. Meanwhile the average Chinese has that money saved and stacked at home. Maybe that is why the life expectancy of the average Chinese is now higher than the life expectancy of the Average American. The moral of the story is sometimes GDP per capita figures don't tell the whole story.

[@amunra5330]

@@aramtime7368 Chinese people save ALOT. In 2022 they saved 3 TRILLION dollar. Thats larger than the economy of the UK

[@arnoldsaunders6073]

Step aside US, you've had your day in the sun.

[@KLRH23]

So it’s bad I buy more affordable goods. Got it

[@kaimingraymondchoi9909]

She knows best how to shame her own country.

[@MickZorro]

Question for Janet Yellen: -- What the USA would say, and do, if it was USA having such overcapacity of production, and Chinese had come to Washington, telling us to slow down?

[@308_Negra_Arroyo_Lane]

China told her that they weren't going to sell into the US market anyways.

[@brianlowe3529]

Old friend said if you can’t make money make progress China makes money and progress USA no money no progress

[@esphilee]

USA makes war.

[@moreless2690]

I am clueless about how she obtained her Ph.D. in economics from Yale University in 1971.

[@robbinghook3571]

Yellen is serving the interest of the oil & gas companies. 2,000 women in Switzerland won a case against their government on climate change inaction. Same need to be done in other countries.

[@PVLTD]

Hey Yellen, if it’s really “overcapacity”, that “overcapacity” is not meant for the US market. The world is big enough to absorb whatever the “overcapacity” you mentioned and stop thinking so highly about your own market. It’s a plus if most Chinese firms can sell their products in the US, but most can survive without entering US market too, just like Huawei.

[@ssss8162]

Yellen has absolutely nothing to offer the Chinese 😅

[@Andy-P]

China and America talk past each other. China says American friends and allies are lapdog. There will be war in the SCS

[@James-mc5hc]

EVs is the best way to save foreign exchange used to purchase oil. Incredibly perfect.

[@daramy9507]

Thank you China for selling us cheaper products. It is a good thing.

[@hc1897]

0:32 Who wants artificially cheap products, we want naturally expensive ones!!

[@user-zf6zc5im1u]

Stupid muricans

[@david50665]

u can get it easily from USA and Europe...100% natural organic expensive products

[@WalkOverHotCoal]

Think of a Marathon. The two main contenders are China and the US. This time, the US finds itself in an uncomfortable second. Not only is it lagging, the gap is widening ! So what is the US doing? Instead of digging deeper to catch up with China, it tells China to slow down so that it could catch up with it. The brutal truth is that the US is stuck in a rather uncomfortable situation. It has a foot on each canoe. One canoe is in the traditional industries such as the internal combustion engine automobile industry, the other foot is tentatively on a modern tech such as EV. The canoes are drifting apart, threatening to dump the US into the water. Biden knows his voting base is in the blue collar, older generation auto industry, that is why he was regularly seen licking a cone of ice cream in front of a factory. Losing jobs in the traditional autos industry could spell disaster for either political parties.

[@petergreen5337]

❤ This is good for the consumer China has helped the consumer for 40 years now. Is this a BAD THING??

[@capritorez3793]

You are telling China not to produce to their max bc we can compete? What right do you have to tell others what to do or not? This is crazy.

[@datianlongan5567]

In the US only rich people can afford EV. China can help make EV affordable (< $20K) to everybody.

[@catinbootsnow4267]

Next time Yellen will complain about the overcapacity of shoes, socks, and garment in Vietnam, Bangladesh and Indonesia. 😅

[@daramy9507]

I agree with the commentator, China is growing a new segment of the global market with Electric Vehicles, Solar, and Batteries that is revolutionizing the world with essential products at a cheap price. The new generation of batteries will power jet planes and make air travel inexpensive. That is a major benefit for the world. China has a population of 1.4 billion people to feed. The U.S. has only 300 million. The priorities of both countries are different. The U.S. is concerned about jobs and profits while China is concerned about social welfare and stability.

[@thuattan6540]

I cannot see in how low cost and over capacity can disrupt the world in anyway and these are newly developed high tech product like EV, EV modular battery and solar panel.

[@user-re3qx4gn3h]

Hey why should i buy products at USD5k in China when i can buy it for USD30k from the US. Yeah got it

[@uofawayne]

Overcapacity in EV? How many gasoline cars are still out there? Yellen whatever you are taking, I want some.

[@david50665]

it just shows a PHD in economics from Yale is useless....she doesnt even understand economics 101

[@TST1234]

Temperature is rising. We have to cool down the globe.. Maybe fast production and flooding the green technology could bring some much needed immediate balance to earth.. we have to reduce fossil use.. the faster the better

[@yuppyhoo]

The world need clean tech fast! US should specialize in AI and China should specialize in green tech; each leveraging on their respective strengths.

[@zuroneuro4665]

Free Trade obviously only applies to the US, if they have the better product ... Once again, the US auto industry cant compete with others and must be saved by high tariffs. It's all 1980ies again, when Japan built far better cars than the US auto industry and Reagan put high tariffs on them ...

[@YongLi-np3wg]

Artificially cheap Chinese product? Chinese EV sales more expensive oversea. How does subsidy work backward?

[@stereomtl9001]

Xi said "Ya ok, sure ..." and then went to meet Lavrov 😂

[@roddiechan]

she went there to beg for more money (wanted China to buy more treasury) and yet didn't want to buy goods at lower prices 🤣

[@davidxu2013]

China stop green energy and technology, let climate change continue 😅

[@acuantjahyadi7393]

Jangan mengeluh , jangan menangis Amerika, gunakan keungulan kamu maksimalkan industry pencetakan dolar anda 😂😂 ecundang !!!! 😂😂😂

[@fangtom9128]

If the US want to make it competitive, then make it by itself, but not accuse of any country’s overcapacity, since all of the product is based on market, even if the US doesn’t buy, other country will buy it. The politic cannot beat market in a long run

[@Fortune-md5jk]

Prices are principally determined ay the law of supply and demand, cheaper goods will benefit the ultimate end -users which are the consumers during this time of high inflation.

[@greaterbayareahero1401]

How can there be over capacity when EV cars have not even been adopted by many countries. Everyone is still driving petrol cars haha!

[@david50665]

it seems the word overcapacity is not the same one as in economics textbooks but 1 just thrown out for this occasion to paint a narrative...it will become a favorite buzzword to bash china going forward

[@duinay3]

US: let's all switch to green energy for the climate. China: ok, here's our green machines. US: let's not switch anymore

[@kaimingraymondchoi9909]

She was there to praise the Chinese contribution towards combating climate change and at the same time exposed the selfishness, arrogance, ignorance, incompetence.... of her own country. What a marvellous lady.

[@willeisinga2089]

Send them a Thank You Note. Thank You China ❤️. And Thank You President Xi Jinping ❤️. And Thank You CPC❤. Send them a Thank You Note. Well Said.

[@danalain4126]

The us is begging China.

[@vincentliu7716]

Cheaper and more efficient solar panels lowers the cost electricity produced, and wider adoption of EVs reduces the consumption of gasoline and diesel which leads to lower oil prices. Therefore it benefits everyone, including those who do not drive EVs or have solar panels on their roofs. Lower energy prices directly bring down the headline inflation rate, so central banks can start cutting interest rates sooner. US government can refinance its debt at lower rates, so it's a win-win for both American consumers and US government. And lower rates worldwide promotes global economic growth.

[@eternalobi]

Only 15% of Chinese cars are sold outside of China. Germany 75%, South Korea 70%, Japan 50%. I wonder why only China is blamed for excess production?

[@mchammer3927]

Sounds like Yellen is working for the oil companies ?!?! Keeping us addicted to the hose !!! Trying to slow down affordable green tech

[@MASMIWA]

Yellen should remember the saying: "“It is better to remain silent at the risk of being thought a fool, than to talk and remove all doubt of it.” ― Maurice Switzer, Mrs. Goose, Her Book

[@stchan8569]

No. "It is better to remain silent and thought a fool than to speak out to confirm it."

[@gamesnerd6806]

I am damn sure the world can. Everyone wants cheaper quality products and as much as possible. No such thing as overcapacity.

[@oriocoookie]

as a solar energy producer, I can tell you that the cost of producing electricity at current panel prices is below 1 euro cent per kWh. No private company can indeed fight off a government subsidized competitors, but i don't mind a bit of help every now and then

[@chiakeesame972]

I am smiling too.😁😁😁Since when Janet Yellen was elected to speak on behalf of the World? Then they been saying also that China's economy is collapsing🤣🤣🤣

[@Jim-nt7xy]

Thank you Commissar Yellen.

[@herta3286]

If China could sell their EV for usd1000, we all shoukd buy and Thank China for selling their car so cheap, if possible ask China to subsidize it to zero usd so we all could enjoy free car 😅

[@rxampageaxe4216]

We have "overcapacity" of inflation since 2022, but the US kept exporting them.

[@user-br9oi2sh7o]

Overcapacity, the best example will be the military industrial complex of US that has created non stop wars and human suffering around the world whereas China in the case if it's true it's benefiting to the whole world and reduce cost of living and improving life.

[@oka2046]

The iPhone prices are too artificially cheap, please make them more expensive! Don’t flood the market with your cheap products!

[@user-gq5lf3qs9i]

US--China relation OUT, Russia--China relation IN

[@QuietJagung]

Global fossil fuels installed capacity is about 5,000 GW. Global solar increases about 400 GW in 2023. It will take nearly 30 years to switch fossil fuels to solar assuming energy consumption does not increase or increase in production keeps up with energy consumption increase. In fact solar production is far from overcapacity and needs to be increased so that it can replace fossil fuels in less than 30 years.

[@MarcoPolo-hn8or]

lol… isn’t affordable Chinese products benefit the world 😂

[@peterchan3889]

Is like telling China not to eat so much.

[@chi-jenyang9752]

In a free market, the government should do nothing regarding overcapacity and leave it to the market mechanism. Yellen certainly did not go to China to ask them to do nothing.

[@michaelnurse9089]

Unlike other imports, making vehicles locally creates a large number of high quality jobs. BYD is known to have 60000 engineers, to say nothing of the number of assembly line workers.

[@lv9657]

Debtor trying to threaten the Banker. LoL

[@danalain4126]

The Chinese will ignore yellen’s babbling.

[@zeetvisascam3443]

Chinese money is not cheap and please buy more US debts!!😅😅😅😅😅

[@babublue69]

people should understand the real reason yellen gone there ,,,talk about plaza 2 accord .. without that next wars in south China and around the world is very near ,she want to say Chinese people if you go by like this that is inevitable ..letssee what China will do ,somebody has to accommodate

[@NomadicAstro]

'buy products other country can make cheaply in exchange something we can make cheaply. ' well said, the thing is, we dont make ANYthing cheaply here in the states. Mcdonalds now 12 bucks a combo with large fries and maybe a sux piece nugget.

[@pt20829]

Thank you. I remember this too from my high school economics class.

[@frankblangeard8865]

The problem with 'comparative advantage' economics is that the U.S. has no comparative advantage in anything.

[@F3CKTHEZIOS]

thanks to china, only because of them people in poor or developing countries get to enjoy smart technology from smartphone to home appliances / solar all the other tech things which are great quality at reasonable price. if rest of the world was dependent on western product half of planet would still be lacking basic tech cause of their expensive price. not only they help with such things but also help underdeveloped countries with infrastructure from bridges to trains everything. i hope people in non-western countries can see the hypocrisy of west who doesn't want others to outcompete them and wants to keep west up and rest of the world below them.

[@dariomendoza191]

the most Imperialist. Colonialist Racist Goverment int he World!!!! greetings from Mexico

[@adamoliver4094]

The US should scale back IRA spending in clean battery tech. Capacity in China will be so high that no factories (probably including those in China) will be profitable.

[@phillip76]

It is pretty funny how Yellen go to China and ask, your firm are over producing, because my firms can 't compete.