Yellen traveled to the state of Georgia to visit a Suniva solar cell manufacturing plant that closed in 2017 due to competition from cheaper, subsidized solar panels from China.
Why did Yellen visit China's Southern factory hub?
REUTERS/Thomas Peter/File Photo Purchase Licensing Rights GUANGZHOU, China, April 4 (Reuters) - U.S. Treasury Secretary Janet Yellen arrived in China's southern factory hub of Guangzhou on Thursday with a tough message to Chinese officials: you're producing too much of everything, especially clean energy goods, and the world can't absorb it.
Why did Yellen visit a solar panel factory in Georgia?
Last month, on a visit to a solar panel factory in Georgia, Yellen said China's excess capacity was distorting prices and production patterns and hurting American firms and workers. She added that China was following its old practice of flooding the global markets with cheap, state-subsidized steel and aluminum.
Why is Yellen going to China?
Yellen, who is planning her second trip to China as Treasury secretary, said Wednesday in Georgia that she will convey her belief to her Chinese counterparts that Beijing's increased production of green energy also poses risks “to productivity and growth in the Chinese economy.”
Despite the overall positive tone of Chinese state media coverage, Yellen had a tough message for Beijing: China's surging exports of state-subsidized electronic vehicles (EVs), solar panels and batteries are threatening American jobs and businesses, and must be reined in.
Why did Janet Yellen visit China?
Janet Yellen has kicked off her second visit to China as US treasury secretary with a warning of the risk to jobs and businesses posed by overproduction of certain goods in the world's second largest economy.
What is Yellen's message to China?
Our Standards: The Thomson Reuters Trust Principles. U.S. Treasury Secretary Janet Yellen arrived in China's southern factory hub of Guangzhou on Thursday with a tough message to Chinese officials: you're producing too much of everything, especially clean energy goods, and the world can't absorb it.