China's industrial push risks destabilizing the global economy and watering down green-energy exports, Janet Yellen warns
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US Treasury Secretary Janet Yellen warns that China's industrial push could destabilize the global economy and dilute green-energy exports. Yellen expresses concern about China's oversupply of cheap green energy products, which distorts global prices and hurts American firms and workers. China's clean energy industry contributed to 40% of the country's economic growth last year, but this has led to a substantial oversupply of solar panels, causing prices to plunge. Yellen plans to raise the issue of overcapacity during her next trip to China.

#China #IndustrialPush #GlobalEconomy #GreenenergyExports #JanetYellen

https://www.businessinsider.com/china-industrial-economic-growth-plan-global-impact-green-energy-exports-2024-3