In today's big story, we're looking at how China's plan for reinvigorating its economy has the rest of the world worried .
The country is overproducing goods and then flooding global markets with them to save its struggling economy, writes Business Insider's Huileng Tan.
Decades ago, as the country opened up its economy, China underwent rapid industrialization, allowing it to produce cheap goods.
AdvertisementUS Treasury Secretary Janet Yellen has already warned China shock 2.0 could destabilize the global economy, specifically impacting green-energy exports .
He pointed to China's GDP growth outpacing the US when the numbers are adjusted for disinflation and inflation in each country, respectively.
Persons:
—, Chelsea Jia Feng, Huileng Tan, Huileng, China's, Janet Yellen, Tyler Le, Ray Dalio, that's, it's, Dalio's, Nicholas R, Lardy, Donald Trump, M, There's, Angus Deaton, Walter Huang, Sevonne Huang, Justin Sullivan, Alyssa Powell, Tesla, Hubspot, Mikel Jaso, Zers, That's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett
Organizations:
Service, Business, West, New York Federal Reserve, Bridgewater Associates, Getty, Apple, Reuters, Google, McKinsey
Locations:
China, Glendale, Ariz, New York, London, Chicago