U.S. Treasury Secretary Janet Yellen has concluded a five-day trip to the Chinese mainland, engaging with leading academic, political, and financial figures in Guangzhou and Beijing. A central theme of her discussions was China's alleged overcapacity in green technology production.
But what exactly does overcapacity mean? In simple terms, it refers to a situation where a country produces more goods than the market demands. Critics argue that China's extensive production of green technology could flood global markets, potentially undermining U.S. interests and stifling competition.
However, not everyone agrees that the U.S. is overreacting to China's advancements in this sector. To delve deeper into this issue, we spoke with Zhao Hai, director of International Political Studies at the National Institute for Global Strategy; He Weiwen, senior fellow at the Center for China and Globalization; and Paul Gillis, professor of accounting at Beijing International Studies University. Their insights shed light on the complexities of the green tech market and the broader implications for international trade and environmental sustainability.
As the world grapples with the challenges of climate change, the dynamics of green technology production and trade remain pivotal topics for policymakers, businesses, and global citizens alike.
Reference(s):
cgtn.com
