US Treasury Secretary Janet Yellen returned to China this Friday. Nine months after her first visit, Yellen was again concerned about Chinese subsidies.
Yellen: “Overcapacity is not a new problem, but it is intensifying and we see risks emerging in new sectors’ The US Treasury Secretary suggested that China's booming exports of electric vehicles, solar power and batteries were a problem at a time when the US is also investing in reviving its own manufacturing sector. She should further address this issue of Chinese oversupply with her Chinese interlocutors.