BEIJING, April 19 (Xinhua) -- China's exports pose no threat to industries in the Global South, and "overcapacity" in China is entirely necessary for their development, reported the Asia Times, a Hong Kong-based English-language news website.

"Through methods fair and foul, the U.S. had long since dismantled Japan's export growth model and is now desperately targeting China," said the report titled "The Myth of Chinese Overcapacity."

"U.S. Treasury Secretary Janet Yellen's recent trip through China kicked off a round of hand-wringing in the Anglo press over industrial overcapacity in China," it said.

"Without a single Chinese electric vehicle sold in the U.S., Senator Sherrod Brown has already called for their ban, declaring, 'Chinese electric vehicles are an existential threat to the American auto industry,'" said the report.

Western progressives, it said, are "mired in cognitive dissonance over long-trumpeted climate commitments when the solution presented to them is low-cost, made-in-China solar panels."

Meanwhile, China's exports to developing countries doubled in the past five years and now exceed exports to developed economies.

"Not only are China's exports not a threat to industries in the Global South, but 'overcapacity' in China is entirely necessary for their development," it said. Enditem

Related

Go to Forum >>0 Comment(s)