U.S. Treasury Secretary Janet Yellen called for a level playing field for American companies and workers during her visit to China. She specifically mentioned China's industrial overcapacity as a concern that can cause global spillovers. Yellen plans to address unfair Chinese trade practices in her talks with Chinese government officials.
Treasury Secretary Janet Yellen specifically called out China 's "industrial overcapacity" in her first meeting in China on Friday. U.S. Treasury Secretary Janet Yellen called Friday for a level playing field for American companies and workers as she began a five-day visit to China . Yellen told Wang Weizhong, the governor of Guangdong province, that it's important for the U.S. and China to have open and direct communication on areas of disagreement.
"This includes the issue of China’s industrial overcapacity, which the United States and other countries are concerned can cause global spillovers,” she said. Last November, Yellen has telegraphed that she will raise what the U.S. considers to be unfair Chinese trade practices, a concern shared by many European countries. Before talks with the governor, she met with American, European and Japanese business representatives to hear their concerns, ahead of what will likely be tough talks on trade and other issues with senior Chinese government officials
Treasury Secretary Janet Yellen China Industrial Overcapacity American Companies Workers Global Spillovers Unfair Trade Practices
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