Commentary
Secretary of Treasury Janet Yellen had just left China when Russian Foreign Minister Sergey Lavrov arrived in Beijing. At the moment, Beijing seems to be proving itself to be the focus of several international conflicts. Ms. Yellen’s China visit is pointing toward escalating confrontations between China and the United States on trade and geopolitical conflicts.
New Trade War?
Independent Chinese TV producer Li Jun said on NTD’s Chinese-language program “Pinnacle View” that Ms. Yellen’s focus during her visit to China was on issues regarding excess capacity and dumping at low prices. This subject is worth noting since after entering the World Trade Organization (WTO), China’s entire export strategy has been based on dumping at low prices, impacting industries globally. For instance, even Huawei’s products, which are perceived as high-tech, are priced 30 percent to 40 percent cheaper than competitors. Therefore, this strategy has been ongoing for quite some time.
