The United States warns of the “negative effects” of Chinese productive overcapacity in clean industries. The US Secretary of the Treasury, Janet Yellen, warns from Beijing of the "risk” posed by the Asian power's economic “imbalances” for workers and companies in the North American country, and the rest of the world.
Yellen has warned of increased business investment driven by China's industrial policy toward electric vehicles, lithium-ion batteries and solar energy. China intends to accelerate the modernization of emerging industries as a transition formula.