China’s Overcapacity: Good Propaganda, Bad Reality, or Both?

Electric cars for export waiting to be loaded on the "BYD Explorer NO.1", a domestically manufactured vessel intended to export Chinese automobiles, at Yantai port, in eastern China's Shandong Province, on Jan. 10, 2024. AFP via Getty Images

Commentary

U.S. Treasury Secretary Janet Yellen said on June 13 that China has “overconcentrated supply chains” that threaten U.S. jobs and investment in green energy. This follows her comments while in China that underscored “the global economic consequences of China’s industrial overcapacity.”