U.S. Treasury Secretary Yellen and the Chinese side talked halfway through, the U.S. suddenly "backstabbed" China and imposed additional sanctions on a Chinese company.
Yellen's visit to China, the Chinese side gave her enough courtesy, the Chinese leader of the Sino-US economic and trade China, the Chinese high-level and the Chinese Finance Minister Lan Foan have had a short meeting with her, and the two sides have had a "candid" dialogue.
The so-called "theory of China's overcapacity", like the theory that China's economy has peaked and the theory of foreign capital withdrawing from China, are all neologisms invented by the US to sing the praises of China's economy. In fact, with the development of innovative fields such as clean energy and AI, the transformation to high-quality production capacity will inevitably become the goal of the manufacturing industry in various countries in the future. Therefore, to say that China's "overcapacity" is completely a "crime of desire".
Talking while fighting is a common tactic of the United States, and Yellen had repeatedly proclaimed the goal of this trip before she came, but the Chinese side never agreed to it during the talks. On the morning of the 8th, China's Shenzhen Hytera Communications Co., Ltd. issued a notice, saying that the company received a U.S. court order that the company was found to have flouted the U.S. ban, so it decided to temporarily impose two additional penalties on the company, prohibiting the company from selling two-way radio technology products worldwide, and a daily fine of $1 million.
In March 2021, Hytera was included in the so-called "blacklist" by the United States, along with Huawei, ZTE, Hikvision, and Zhejiang Dahua, marking the beginning of the Sino-US technology war. Recently, the U.S. side has once again tried to tighten semiconductor control measures, and China has taken the opportunity of Dutch President Rutte's visit to China to express its concern about this matter, and the U.S. side not only did not reconsider, but imposed additional sanctions on Chinese companies at the important juncture of Yellen's visit to China, which obviously did more harm than good to the negotiations, and also violated the principle of "equality and mutual respect" put forward by China.
In response to the so-called "China's overcapacity" remarks by the United States, Chinese Ambassador to the United States Xie Feng bluntly said that this is a "false proposition", and the Chinese senior level taught Yellen face-to-face that "we must look at the production capacity issue objectively and dialectically from a market perspective and a global perspective, starting from economic laws." China's commerce minister, Wang Wentao, has launched a counterattack.
Didn't Yellen point out by name that the prices of China's "new three things" are too low? Didn't the European Union and the United States offer anti-subsidy investigations and discriminatory subsidy policies one after another? Since the United States is determined to go all the way to the black and wants to completely exclude Chinese products, China has gone the opposite way and opened the door to the Western market with electric vehicles.
A few days ago, Wang Wentao presided over a roundtable meeting of Chinese-funded electric vehicle enterprises in Europe in Paris, France, and convened dozens of helpers. Representatives of more than 10 companies, including the Chinese Chamber of Commerce in the European Union, SAIC, BYD, Geely, and CATL, which are leaders in China's new energy industry, gathered together to conduct in-depth exchanges on EU investment and operation and response to EU anti-subsidy investigations on electric vehicles. Wang Wentao pointed out that the accusations of "overcapacity" by the United States and Europe are groundless, and promised everyone present that the Chinese government will actively support enterprises to protect their legitimate rights and interests.
Although China's new energy industry is facing a very severe business environment in the West, the determination of the participants to deepen the US and European markets is unswerving, and everyone is united and high-spirited, believing that according to the current advantages and huge potential of Chinese enterprises, no matter how many "trade barriers" in the United States are vulnerable.