Monday, 08 April, 2024
Yellen Says US Sees ‘Need’ for Shift in China Industrial Policy
US intends to underscore the need for China to shift its industrial policy, according to US Treasury Secretary Janet Yellen’s prepared remarks in Beijing.
- Says China’s “enduring macroeconomic imbalances” include “weak household consumption and business over-investment, aggravated by large-scale government support in specific industrial sectors”
- Yellen says she expressed concern to China that some features of the Chinese economy have “growing negative spillovers” on the US and globally
- Seeing investments increase in industries targeted by China’s industrial policy including electric vehicles, lithium-ion batteries, solar
- “China is now simply too large for the rest of the world to absorb this enormous capacity”
| *YELLEN, CHINA’S HE VOW TO STAY IN CLOSE TOUCH ON THESE ISSUES | |
| *US TO HOST CHINA ECONOMIC, FINANCIAL WORKING GROUPS NEXT WEEK | |
| *US SEEKS CHINA’S CLARITY ON NATIONAL SECURITY, ECONOMIC ISSUES | |
| *YELLEN: BANKS BROKERING MILITARY GOODS TO RUSSIA RISK SANCTIONS | |
| *US CONCERNED ON ANY FIRMS’ ROLE IN RUSSIA MILITARY PROCUREMENT | |
| *YELLEN: US SEES NEED FOR SHIFT IN CHINA INDUSTRIAL POLICY | |
| *YELLEN: WORRIED ABOUT CHINA’S WEAK HOUSEHOLD CONSUMPTION | |
| *US, CHINA HAD ‘DIFFICULT’ TALKS ABOUT NATIONAL SECURITY: YELLEN | |
| *US TREASURY’S JANET YELLEN RELEASES PREPARED REMARKS IN CHINA | |
| *YELLEN ‘PARTICULARLY WORRIED’ ABOUT CHINA’S MACRO IMBALANCES | |
| *YELLEN: US, CHINA RELATIONSHIP ON STRONGER FOOTING THAN LAST YR | |
| PHILIPPINES PREVIEW: Rates Likely on Hold for Peso at April Meet |
