coingameaxie| Hong Kong media: "China's overcapacity theory" is "fooling economics"

A few days ago, Hong Kong media "Asia Weekly" published an article entitled "the latest shock Wave of China's Economic resilience," pointing out that the United States and other developed countries put forward the "theory of overcapacity in China," which is labeled academically, but in essence is fighting for interests. It belongs to "neglected economics".

The article said: recently, US Treasury Secretary Yellen and other officials have continued to promote China's "overcapacity", which has become an international laughingstock, because this statement violates the principle of comparative advantage of economics and the principle of fair competition of the World Trade Organization.

The article said that economics will ultimately be based on the rights and interests of consumers, and Tesla's global sales have exceeded one million, and the global sales of electric vehicles in China are far behind Tesla. The article questions why it is not blaming the overcapacity of electric vehicles in the United States, but pointing the finger at China.Coingameaxie?

The article said that the United States' crackdown on China's high-end manufacturing industry reflects that it pursues zero-sum game thinking behind it, and is unable to "put down its posture" to learn, slow down its own development, and damage the interests of the American people. The article mentioned that many American think-tank scholars have realized that blindly suppressing China will harm the long-term national interests of the United States. Lardy, a senior researcher at the Peterson Institute for International Economics, recently wrote in the latest issue of the US Foreign Affairs magazine that China's economy is resilient and "do not underestimate the second largest economy."