China slams ‘overcapacity’ hype and new US tariffs as hypocritical and bullying

CCTV: In a recent interview with US media, US Treasury Secretary Janet Yellen again mentioned the so-called “Chinese overcapacity” in electric vehicles and other new energy sectors. When questioned by the interviewer, Yellen said that the US is “very explicitly subsidizing investments in these important strategic areas. And what we don’t want to see is massive Chinese subsidies to firms with huge overcapacity.” What is your comment on this?
Wang Wenbin: Based on US logic, US subsidies are “investment in critical industries,” whereas other countries’ subsidies are seen as “worrying unfair competition”; US exports with comparative advantage constitute “free trade,” whereas other countries’ exports with comparative advantage are signs of “overcapacity.” There’s a Chinese saying for that logic, “The magistrate allows himself to set fire but bans everyone else from lighting candles.” Or, to use a US expression, “Do as I say, not as I do.” The US is essentially using the “overcapacity” narrative to kneecap other countries’ strong industries and practice protectionism and trample on market principles and international trade rules in the name of “fair competition.” This is nothing but bullying.
Let me reiterate that the rapid growth of China’s new energy industries, including electric vehicles, lithium batteries and photovoltaic products, are built on continuous tech innovation, full-fledged industrial and supply chains and full market competition. Our leading edge is a result of comparative advantage and the laws of the market combined, not by so-called “subsidies.” By contrast, in recent years, the US signed into law the CHIPS and Science Act and the Inflation Reduction Act to directly intervene in the allocation of market resources through direct and indirect subsidies totaling hundreds of billions of US dollars. It’s the US who is a big subsidizer to its industries.
Subsidies do not guarantee industrial competitiveness. Protectionism does not nurture real business champions. The fast-growing Chinese new energy industries are what the world economy needs for green transition. It serves the interest of China, the US, and the whole world. We urge the US to abandon its hypocrisy and double standard, and not to make the same mistake of resorting to protectionism.
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[@samtat5873]

China should just need to ignored this country. They aren't the first time doing like that to China. It has been so many years already. The whole world people can see so clearly about.

[@JB52520]

We can see clearly, but most of the US cannot. Education is important.

[@picandvideo]

To Toshiba, Alston,….., ZTE, HUAWEI, TikTok. Well nothing new. The difference is China has Great Wall ☺️of many things

[@dennisliuxinlu]

China should innovate more and leave the US behind

[@vhltu]

I could not agree with you more. To be fair, it is kind of challenges for China to surpass USA. Till China has better educational system than USA, then it is possible that someday USA could be in the China's tail. there are many prestige colleges here in USA. those college professors produce many talents. I will be dead when China leads the world. :-) Honestly, till China implements a system in which people have a complete freedom in thinking, have voice to express themself freely...it is hard for China to catch up with USA. it is not that China does not have enough talents...it is a political system that hinders China to become a superpower country...

[@420mtbrider]

they are...

[@deeh1048]

China copies and improves. She rarely innovates.

[@user-mc2oc6jw9q]

@@420mtbrider they are trying and failing :)

[@jace1113]

​@@user-mc2oc6jw9qin your wet dreams

[@daniellesomerfield8799]

Bullies need to be stopped, otherwise they continue in their abusive behaviour.

[@amiigose]

this why i say, as long china only talk and talk, america no stop bullying china

[@user-sf1nq9uj7p]

But how?

[@felipesilvamoldes1107]

I bought 100% more shares of NIO today. THANK YOU CHINA

[@peanut0brain]

Bad idea. Because of extreme sinophobia, Chinese stocks on wall st will never go up!

[@user-sf1nq9uj7p]

@@peanut0brain You are unfortunately, quite correct. However, the shares in the Shanghai Stock Exchange may have a different trajectory to that of Wall Street.

[@user-mc2oc6jw9q]

stocks in china re going backwards, you made another fool loose their money, thanks C C P

[@peanut0brain]

@@user-sf1nq9uj7p no. Alot of these Chinese stocks list only on the hk and wall st exchanges, and because of arbitrage, they follow each other up or down, mostly down.

[@LordHilpolithRothschild]

​@peanut0brain on the short-term but if you hold that stocka bit longer then its going to be amongst your best investments.

[@awen777]

Without hype, bullying and, dominance there would be no US position or policy.

[@user-mc2oc6jw9q]

USA has hegemony, allies and has won wars against foreign adversaries, china has no claim to any of those :)

[@jace1113]

Lol so true. That's all they know

[@awen777]

@@user-mc2oc6jw9q Which wars has the US won?! Vietnam? Afghanistan? In those two alone we had air superiority and still ended up running.

[@Philip-lk5db]

Overcapacity of EVs 😂 but less than 1% of all EVs sold in the US we’re Chinese EVs.

[@brianliew5901]

Why should China respond to the US? Just ignored the beggar and focus on your own goals.

[@TeeHee-vo1bn]

Poor China responds to everything US does because it knows who the real boss is. You should have learned that by now.

[@Bjonnet55]

you are ridiculously stupid to think America is a beggar, china is the one that should on that fool,why is china yelling on what america does

[@MRT-co1sd]

If you don’t respond you will be inviting them in for a feast.

[@rtc5573]

China should slap tariffs on US products. An eye for an eye.

[@azwanazmi1484]

@@rtc5573They should and can undercut them on all foreign trade and be sure to never trade in US dollars again. They should also plan with other nations to dump all US bonds simultaneously.

[@DailyBeatings]

So subsidizing clean air and less pollution is somehow bad? The pretzel logic of the US is absolutely amazing...🤣

[@user-lj6sp5gf1g]

China should sell it's products to Russia Iran and North Korea And not in allied countries........ Don't force other to buy your fake products 😮😮😮

[@DailyBeatings]

@@user-lj6sp5gf1g Enjoy your technological ghetto...🤣

[@TeeHee-vo1bn]

But poor China is the number polluter in the world. Half of its electricity comes from burning dirty coal.

[@DailyBeatings]

@@TeeHee-vo1bn "China's total power generation capacity reached 2,920 GW in 2023, in which coal's share dropped to 39.9%, while the share of non-fossil fuels, namely nuclear and renewables, reached 53.9%, according to CEC's newly published report titled 2023-2024 National Power Supply and Demand Analysis and Forecast."

[@DailyBeatings]

@@TeeHee-vo1bn As usual you are wrong again...🤣

[@vidsurf88]

Remember what US did to Japan.... plaza accord

[@peanut0brain]

By forcing them to raise central bank interest rates, thereby increasing the value of the Japanese yen, thereby making Japanese exports more expensive?!

[@kensanuk4914]

and now japan is hugging US's legs

[@peanut0brain]

@@kensanuk4914 been sucking US dîčk for 44yrs? There stock market has been flat

[@user-sf1nq9uj7p]

@@peanut0brain Yup. I was in an Australian company that bought small hand tools and lightweight machinery products from Japan but in the 1980s, when their currency shot up virtually overnight after their signing of the Plaza Accord with the U.S., making their products far more expensive than ever before, my company switched over to sourcing from Hong Kong (which was still under the British at the time) and Taiwan and later still, to Mainland China. Our business with Japan fell by more than 90% in just half a year and never went back.

[@andreastano7920]

Putting on high tariffs on Chinese products? Just cut ties with them then, of all. Overcapacity? The world is in overcapacity of us dollars 🤣

[@myworld8266]

stop selling them rare earth metals and the materials they require to make the items and start charging them high tariffs

[@user-sf1nq9uj7p]

Already starting to do that by reducing the volume that can be exported.

[@pv4509]

China should just decouple from the US and then the world will see who needs whom. US has roughly 40 "friendly" countries and China has roughly 150+ countries to trade with. Maybe it's time just to severe the trade ties

[@yehuo2825]

well said!

[@globalfunseeker6733]

You can't accuse the man of lying.

[@fushanwong8704]

Well said 🎉

[@canostota]

China ❤

[@scionkai]

US never mentioned they themselves have subsidized billions to the EV industry in US.

[@Wbliss]

‘Over capacity ‘ is a buzz word from the U.S. side and basically , using that terminology as an excuse for their inability to compete on the world stage , even when the playing field is level. Secondly, the U.S. has become a whiner and hiding behind its complacency of not willing to address its own domestic issues of inefficiencies or unproductive industrial output, apart from its weapon manufacturing sector.

[@ashk4155]

NNNNNNNNNIIIIIIIIIIIIIIIOOOOOOOOO WE LOVE YOU CHINA SORRY FOR OUR LEADERS

[@canostota]

blinking + yelling what a pair of despots ,,,keep on yelling + blinking + never die

[@TeeHee-vo1bn]

Says dictatorship China.

[@darthpaulx]

Hey, that's what i always say. hahahaha

[@josephlionellin3004]

No wonder even in the US their native the RED INDIANS use to have a saying that: " white man speaks with a Fork tongue." 😂😂😂

[@user-sf1nq9uj7p]

Yup - 300 years of the United States of America that made over 500 treaties with the native American Indians - and the U.S. Government has honored NOT ONE single treaty. So much for a "trustworthy" country - not.

[@eighty88eight]

250 yrs. Indians never were "native American"

[@josephlionellin3004]

@@user-sf1nq9uj7p Very well said.

[@eighty88eight]

250 yrs ago there were no "native Americans"

[@lucyblueeyes3858]

說得好👏👏👏 Well said.

[@michaelgreen398]

U.s. sanctions for this sanctions for that sanctions for sanctions😂😂😂😂😂😂😂😂😂😂😂😂

[@vichua1052]

No country is allowed to get ahead of the US.

[@DailyBeatings]

China is already ahead with all the NEVs, all the solar panels, all the wind power generation, all the 5G base stations, and all the high speed rail lines the US doesn't have...🤣

[@pedrodulce2675]

Especiallly in Drugs consumption, no one is ahead of you............................................................. you are already bolied.......................over.

[@JoneLang]

I agree …one standard please 😊

[@jace1113]

It will fall on deaf ears

[@user-sf1nq9uj7p]

It has ALWAYS fallen on deaf ears.

[@Russsssss]

FORÇA RUSSIA. VOCÊ ESTÁ AJUDANDO O RESTO DO MUNDO A NÃO SER DOMINADO PELOS IMPERIALISTAS NOJENTOS DO OCIDENTE. OBRIGADO 🇷🇺🇷🇺🇷🇺🇷🇺🇷🇺

[@tayy12]

World don't owe you a living for overcapacity 1.4 billions people

[@jace1113]

They produce what the world wants to buy. Simple as that.

[@dachochiyo3992]

don't let her in again, dog is dog

[@chongeiktong3426]

The market in China is large enough . Why worry?

[@kckfen]

What happens if China slap 100% tariff on Apple, Ford, GM., Microsoft, and all the corns product?

[@wc7466]

Brilliant speech

[@kenlim4204]

Today is different from yesterday.

[@toram6210]

Working hard = over capacity lol

[@liamporter1137]

Well said 👏👍.

[@nikehusk3849]

Wow! China now understands what bullying is! Good job!

[@JesusisGod-no3bi]

What do you mean, China has known for a long time, since the colonial era, who colonized your ancestors?..

[@jace1113]

What are you referring to?

[@litchips]

China will need to pick, trade with the US or trade with Russia. It's their call. They can be replaced for manufacturing like Russia was replaced by Europe for natural gas.

[@peterlaval945]

Keep in mind, what goes around, come around. Yankee.

[@biggles5633]

Although I hate to say it, it is probably time that China sells it's US dollar holdings, treasuries and US assets. This will make the US sit up and take serious notice and probably bring the USD crashing down. This in turn will more than likely bring about greater inflation and tough times for the US. Probably for all of us ... but maybe it is what we need. We either have an international rules based system EVERYONE honours or otherwise, it has to be a free for all. A rules based system instigated by the biggest and most powerful is never going to cut it and it is high time it comes to an end.

[@rtc5573]

China should slap tariffs on US products. An eye for an eye.

[@lincolnteh267]

Impose 100% tariff on iphone.

[@kaimingraymondchoi9909]

Yellen the "Bull".

[@user-uj5xj6kn2d]

Look who's talking

[@longcimb]

No point repeating this over n over. Just don't do business with them.... period

[@djibicisse]

Bruh they need the business Lots of factories are closing down and having reduced orders from Europe due to the war

[@longcimb]

@@djibicisse short term pain for long term gain. All Chinese must be educated on the sacrifices they need to make. At the personal level, I will cut down my expenses if my income is reduced, then my adjustment will be on a thrifty budget. When my income goes up, I will slowly re adjust but my income will be on a stable level. As the Chinese saying, if a horse died half way to your destination, you just need to walk

[@djibicisse]

@@longcimb so u r asking an entire population . To sacrifice their fmailY and living for patriotism and national pride? No country is like this anymore Maybe in world war 2 era or Soviet Union communism times When it comes to livelihood or national pride , ppl will choose thier lives Unless they have no freedoms or choice

[@longcimb]

@@djibicisse technically the Chinese are at war with US , so the alternative has to be drastic, but to what extent, it depends on the damages from each unilateral tariff n sanctions enforced by the Satan. I strongly believe Chinese on average can tighten their belts deeper than the US counterparts. US purchases of the remaining 400 billion would be more expensive n could derail their anti inflationary measures. But the consumers may not be so lucky, the remaining 400 billion of daily necessities would be levied with further tariffs. Just wait n see.......

[@pravdaseed64]

💫 ThankS 💫 ⚡Karl MarX & ⚡Nikola TeslA ⚡TaoisM ⚡BuddhisM ⚡Chinese & English Language. 🦋🐉🇨🇳🐉🦋 🌻💙🇷🇺💙🌻 💚🌟🇰🇵🌟💚 MagnificenT SinospherE 🌀☸️☯️🕉️🌀 💞

[@jeyferresterio]

HAHAHAHA coming from you.

[@pingpong7810]

This Wang wen bin is AI robot talk to,😁😁😁😁😁😁

[@ToiChutGongWu]

More spam from the Sinophobic bot farm.

[@e.m.9280]

Indeed this "AI" Robot is programmed to give more speech in the front of the media.. too much propaganda and lies..

[@e.m.9280]

Indeed this "AI" Robot is programmed to talk too much in front of the media with too much propaganda.. making some stories..

[@henriettasecker-shao]

Time for you to go soon. You are so annoying with your stupid comments. Same old, same old!

[@henriettasecker-shao]

The above comment from me is for @pingpong7810

[@siarung1972]

ccp crying

[@garyshepherd9367]

Winnie it’s time to go ✌️🇹🇼

[@NinjaPlease007]

"Winnie". Do the adults know you're on the computer again?

[@dennisliuxinlu]

Imagine using the term "winnie" as if that's going to stop China's progress. 😂

[@ToiChutGongWu]

Say hello to your Sinophobic bot farm "garyetc"

[@e.m.9280]

U mean xinpeng " the pooh bear "

[@NinjaPlease007]

@@e.m.9280 looks like another child has snuck onto the adults computer again.

[@TeeHee-vo1bn]

Overcapacity is a Chinese characteristic. It has overcapacity of apartments, overcapacity of EVs, overcapacity of students and overcapacity of illegal immigrants.

[@henriettasecker-shao]

rubbish...go take a hike!

[@420mtbrider]

you forgot money and brains...

[@TeeHee-vo1bn]

@@420mtbrider I didn't. Money and brains don't create overcapacity.

[@yapsiauwsoengie6507]

China is just taking over your incompetence

[@420mtbrider]

@@TeeHee-vo1bn wheres the overcapacity? i dont see people living in the streets like in amerikkka. anything else you want to be wrong at again?

[@user-wi8cj6pk4q]

Get out of Philippine waters

[@yvonnefurniss138]

They use to live in peace once. I’m Australian and we have had peace in these waters for 50 yrs But alone comes America and starts using the Philippines as bait. So do some research on the leader of Philippines before you shoot your mouth off and by the way how America packs up their 100 bases and f##k of home.

[@cdykane73]

You mean the South China Sea .

[@e.m.9280]

Too much talking.. you'r the one bullying in some asean countries claiming which is not your's.. shame on you .

[@matthewpeung2194]

Truth and fact 👍🇨🇳💯🚩🌐🌟🤝💪👏🙏💖

[@Cm-xd8dy]

I’m too dumb you’re making us look bad by being too smart.

[@user-wi8cj6pk4q]

Get out of Philippine waters

[@anthonyapril85]

Freedom of navigation my friend

[@metchandara]

don't worry, the Philippines is the next Ukraine. You have been used by the US as a proxy war. Be educated next life.

[@420mtbrider]

Philippines dont own anything. your masters, the united snakes of amerikkka own everything you have. (which is nothing...)