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Yellen, China's subsidies are a risk to the global economy - News

2024-04-05T06:47:51.698Z

Highlights: Yellen, China's subsidies are a risk to the global economy. 'Production capacity goes beyond internal and external demand' Yellen said this while meeting the American business community in Guangzhou. All this represents "a risk to global economic resilience", said Yellen in a memo to the US Treasury Department, according to a Treasury Department memo. Reproduction of this article is permitted under the terms of the European Union’s Market Abuse Prevention and Consumer Protection Act. For more information, go to: http://www.marketabuse.org.


'Production capacity goes beyond internal and external demand' (ANSA)


    China's direct and indirect public support "is currently leading to production capacity that significantly exceeds domestic demand, as well as what the global market can bear." US Treasury Secretary Janet Yellen said this while meeting the American business community in Guangzhou.

   “I understand that these policies may be driven by domestic development goals, but excess capacity can lead to large volumes of exports at low prices,” Yellen added, according to a Treasury Department memo. All this represents "a risk to global economic resilience". 


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Source: ansa

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