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Yellen Says China’s Support for Industries Poses Global Risk
Posted
November 14, 2023
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2:11Now PlayingUS Treasury Secretary Janet Yellen said she told her Chinese counterpart that Beijing’s heavy financial support for certain industries could pose a threat to other nations, as trade tensions simmer between the world’s largest economies. "To the extent that some of the investments in these industries reflect China channeling financial resources to firms that produce in these industries, and that could result in overcapacity, that is an issue that we talked about," Yellen said at a press conference in San Francisco on Monday following a day of meetings between finance ministers from across the Pacific Rim.
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