US Secretary of State Antony Blinken expressed Monday his country’s deep concerns about China’s industrial overcapacity and its grave impacts on US industries and markets.
“We have deep concerns, as you know, about China’s overcapacity, trying to export their way out of their own economic challenges, and doing it in a way that saturates our market in critical industries and in critical sectors,” the US Secretary of State said at a Conversation on U.S. Foreign Policy at the Brookings Institution.
He pointed out that the US is investing right now in goods that are underpriced and designed basically to price out American manufacturers from these sectors, from these industries whether it’s solar panels, whether it’s electric vehicles, electric vehicle batteries, et cetera.
“Our job, our responsibility is to make sure that we’re defending our workers, defending our industries, and defending our communities. And that’s exactly what we’re doing,” he affirmed.
He added that the US is collaborating with Europeans
ad some Asian countries to confront the Chinese behavior.
“But here’s the difference: It’s one thing when we’re doing this alone. It’s one thing when the United States is carrying that fight as 20, 25 percent of the world’s GDP,” Blinken said.
“When we’re aligned with others, when we’re working with Europeans, when we’re working with Asian partners and other partners, all of whom have some – are facing some of the same challenges, and we’re aligning 50 or 60 percent of the world’s GDP against this problem, we’re going to be a lot more effective
Source: Kuwait News Agency