The oversupply of Chinese goods in key industries is stoking tensions between the world’s biggest manufacturer and its major trading partners, including the United States and the European Union.
From clothes to carsChina’s exports of low-priced goods got a boost after it joined the World Trade Organization (WTO) in 2001.
“What China exports is advanced production capacity that meets the needs of foreign customers,” Xinhua News Agency wrote.
US President Joe Biden recently pledged to investigate whether imports of Chinese vehicles pose a national security threat.
“But perhaps more importantly, persistent oversupply and low prices of Chinese goods will add to geopolitical tensions and keep the threat of tariffs and counter-tariffs alive,” she wrote in a recent note.
Persons:
Hong Kong CNN —, ” Jens Eskelund, Xi Jinping, Huang Jingwen, ” Eskelund, Brad W, ” Markus W, Voigt, China’s BYD, Warren Buffett, Setser, Li Qiang, “, ”, Joe Biden, Jennifer McKeown, Shawn Deng
Organizations:
Hong Kong CNN, European Union, European Union Chamber of Commerce, Zero, of, People, China’s National Bureau of Statistics, Council, Foreign Relations, World Trade Organization, Aream Group, Tesla, Getty, China Development Forum, Xinhua, Agency, ., EV, European Commission, WTO, Capital Economics
Locations:
Hong Kong, United States, China, Europe, Beijing, Xinhua, China's Shandong, . Washington, Brussels