China's Excess Capacity in Clean Energy Products
Treasury Secretary Janet Yellen warns about China's excess capacity in clean energy products, affecting global market prices and hurting American firms. Yellen plans to address this issue during her upcoming visit to China.
Key Points
- Treasury Secretary Janet Yellen raises concerns about China's overcapacity in clean energy products.
- Yellen plans to pressure Chinese officials to address this issue during her upcoming visit.
- The U.S. is making investments in clean energy but is playing catch-up to China's longstanding efforts in the sector.
Pros
- China's surplus in clean energy products allows for cheaper prices globally.
Cons
- Depresses market prices and hurts green manufacturing industries in the U.S.
- Creates unfair competition for American firms and workers.