'Just an excuse for protectionism' China rebukes 'overcapacity' rhetoric upon US Blinken's arrival
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- เผยแพร่เมื่อ 23 เม.ย. 2024
- Q: The G7 Foreign Ministers’ Meeting issued a communiqué recently, claiming that China’s non-market policies and practices are leading to “overcapacity.” The US side claimed that Secretary of State Antony Blinken will express concerns on “overcapacity” during his visit to China. What is China’s comment?
Wang Wenbin: Some Western countries have lately been accusing China of “overcapacity.” This is baseless hype and we firmly reject it.
Let me use our new energy sector as an example: First, China’s new energy sector capacity is advanced and much-needed capacity for green development, not “overcapacity.” According to the estimates of the International Energy Agency, based on announced carbon neutrality targets, by 2030, global demand for new energy vehicles will reach 45 million, 4.5 times that of 2022, and global demand for new photovoltaic installations will also soar. The challenge facing the world is not overcapacity, but a severe shortage of capacity in the new energy sector. China’s green technology and products, especially the growth of our new energy industry, meet countries’ need to address the energy crisis and respond to climate change, and will make important contribution to the global green and low-carbon transition.
Second, the rapid growth of China’s new energy industry is determined by the laws of economics and market factors, not subsidies. China’s new energy products are competitive because we started out early and have kept investing in its R&D. Hence a leading edge in technology. Combined with China’s vast range of supporting industries, mega-size market and rich human resources, that leading edge becomes integrated competitiveness. As Premier Li Qiang said, China’s leading edge in new energy is a result of strong performance and full market competition, not government subsidies.
Third, accusing China’s new energy industry of overcapacity is a sign of protectionism. Bloomberg analysis shows that in the EV sector, the capacity usage rates of the majority of China’s leading auto exporters are considered normal; the ratio of exports to production is far lower than other car producing nations such as Germany, Japan, and the ROK; and Chinese companies aren’t dumping EVs on global markets, for the export prices of those cars reflect the laws of the market. In our view, the “overcapacity” rhetoric is just an excuse for protectionism. To limit the export of China’s new energy products, such as electric vehicles, will make everybody lose. The world doesn’t want less of China’s capacity, but more funding and products to speed up energy transition and reduce poverty.
China stands by its basic national policy of opening up. We are ready to work with all parties to uphold fair competition and benefit from cooperation together. We hope relevant countries will stay open, observe the principles of market economy and international trade rules, and provide a fair, transparent, open, and non-discriminatory environment for Chinese businesses.
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The only thing I'm really impressed with the Americans is how good they are in inventing all these BS excuses.
Why do my school counselors never tell me I can be a BS salesman?
It’s what happens when your leaders are lawyers, journalists or entertainers instead of engineers and scientists. You get clever word play but no pragmatic action
@darkcloud5830
BS salesman is whining when its products are rejected by buyer. The seller said, Seller has all the right.😊😅
Ex. The seller said buy those new washing machines and replace your old washing machine. Is that not coercion and intimidation?
@@darkcloud5830 Says the expert who doesn’t know the difference between a basement and a sinkhole inside a shop ?
@@fernandocruz4877 No, not that kind of BS. The BS the US government is selling to the world. Let me teach you how to run your country and I promise you rainbows and unicorns. Just make sure you pay me in cash.
Finally someone points out at least one bit of ridiculous western propaganda. Just a million to go.
go see George Galloway. He does every Wed and Sun.
Million? More like billions or even trillions. I don't even know if anything that comes from the US is propaganda or not.
U.S.A motto: We lied, we cheated, we stole.
1000% correct.
China producing too much?....
th-cam.com/video/GUpWxNcdnYU/w-d-xo.html
share....
China should also complain about Over-Printing U$D, and threaten us to total de-dolarisasi...
this over-printing is the culprit of world-wide slow downs of economic growth because of this imported U$D inflation.
🇨🇳 ❤!!
China is instructing Blinken that it will not accept the same garbage Yellen tried to dump on China during her last visit. Blinken should not repeat the shovelling. But if he doesn't, what then does he have to say? Except to talk to himself.
Usa have military over capacity
Spot on.
But why USA can't produce more? Instead of lamenting 😢
Of course the U.S. charge that China's "over-capacity" in production is nonsensical hype. In the West, there has been a long time, a constant push for workers to be "more productive" and that inflation is partially due to the un-productiveness of business entities. In fact, it is precisely the Chinese workers ability to be efficiently productive that lowered production costs that U.S. businesses moved their manufacturing bases over to China in the first place to take advantage of this. Low wages are not the only reason because you can have low wages but low productivity and under capacity to be non-profitable.
So, to charge that China is bad because it has an "over capacity" in production due to its ability to be productive is a stupid double standard - which the Western Government (the USA) is infamous for.
As usual, "over capacity" is good for the USA as it shows that it is more efficient and hence, productive and can export more but bad when China does it. It's the perfect "Tonya Harding - Nancy Kerrigan" - smash your opponent's kneecaps to win the race mode of operation well understood and practiced by the U.S.A.
Very well explained. Thank you.
Inarguably, China has transcended from a low tech manufacturing economy to become inarguably the new leader in Industry 4.0. It has moved ahead of the industrialised West in the integration of intelligent digital technologies into manufacturing and industrial processes encompassing industrial IoT networks, AI, Big Data, robotics, and automation.
To Washington, that was not supposed to be. At least not in another ten to twenty years from now.
That explains why Washington is doubling down on its efforts to slow down China. Clearly, to Washington the greatest leverage against its new found peer competitor will have to come from a collective approach involving its allies - accompanied by a collective, coordinated, and sustained effort - to isolate and to deny China the advanced and cutting-edge technology, as well as the access to the their markets. However, such belligerent denial strategy will not work. Instead it had actually speeded up China’s push towards innovation and technological self-reliance, as well as opening up new frontiers and markets for its affordable and high quality products.
The one thing that really impresses me is the consistency of the Chinese hippocraçy !!!😮
The homeless pauper demands you downsize your bungalow to a plastic tent to have a level playing field for him! ...hmm...hmmnn...IT'S AMERICAN DREAM CHASE GONE AWRY!
Economics 101: "Whenever capacity is above this stable-infla- tion utilization rate, inflation will continue to increase. Conversely, inflation will decrease only when capacity is brought below this natural rate". Source: the Fed Chicago.
China inflation 2023 was 0.2%. Whereas ompare to the US in 2023, the average inflation rate was 4.1%.
Yellen is Harvard educated. No wonder that Jack Ma once said to this effect: your degree only proves that you financially paid more for it.
I hope even that stupid Yellen would comprehend the above elementary economics.
For Americans, the rest should follow their dictates or else face economic & trade sanctions. China & Russia should stand firm against this hegemonic behavior and work with the rest to make an alternative reserve currency and safe payment systems in participation with BRICS plus countries before it is too late.
Already alliance in military.
Western county wants expensive products ?
China should ignore the liar B for his word never mean it.!!!🤣🤣🤣
How does the US know that it is overcapacity? The country involved knows better. So pls take care of your own country before poking your nose into others.
And where do the producers sell those products? The seller said buy it and take it. What?😄
很多国家都需要新能源，特别是第三世界国家都需要。
美国的苹果是不是产量过乘？
US always has something negative to say when China does well in any industry. 🤣🤣🤣🤣😂😂😂😂
Bu wang 😂😂😂😂😂😂😂
Don't insist your products to other nations if they don't want it. It's their prerogatives what's good for them and abide by international law and follow rules based order. Is that difficult to grasp?
Wang wen bin statement is like a baby
🎉🎉🎉this wang wen is AI robot talk
Taiwan salute Hongkong japan
Your comments are stupid and senseless, you missed focusing on the content,poor you mate,go and learn
*Taiwan belongs to China*
USA is having a hard time trying to Stop China's from thriving. 🤣🤣🤣
There is no problem if you dont bully your small neighboring countries
True, small countries like Panama, Vietnam, Nicaragua, Marshall Island, Libya, Iraq, Angola, Cambodia, Angola, Somalia, Serbia, Congo, Yemen, ... Which country did I miss?!
@@Zakaius your brain, oops sorry its empty 😎
Have you cleaned the toilets downstair?
When a chihuahua nips at the big dog don't be surprised when the big dog takes a bite out of the chihuahua...🤣
@@L110508 its as clean as your brain nothing left 😎
Good afternoon Mr Wang Wenbin Yep it's a containment measure of their abilities but I said Ours are Infinite I understand though I get a little crazy ❤️🇨🇳🦾😇👋