US to push China to change policy

But the focus of her trip was industrial policy, and what the US and Europe describe as manufacturing overcapacity in China

US to push China to change policy

US Treasury Secretary Janet Yellen. Pic/AFP

The Biden administration will push China to change an industrial policy that poses a threat to US jobs, Treasury Secretary Janet Yellen said on Monday after wrapping up four days of talks with Chinese officials. She also said in Beijing they had “difficult conversations” about national security, including American concerns that Chinese companies are supporting Russia in its war in Ukraine.

But the focus of her trip was industrial policy, and what the US and Europe describe as manufacturing overcapacity in China. Wealthy nations fear a wave of low-priced Chinese exports that will overwhelm factories at home. Yellen cited the manufacturing of electric vehicles and their batteries.

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