China Daily: We noted that recently the US has kept hyping up the issue of China’s “overcapacity”. Do you have any further comment on the issue of “overcapacity”?
Lin Jian: Blaming China for “overcapacity” is not new. Years ago, the US accused China of “overcapacity” for exporting many high-quality, low-cost products. Now it is sticking the label of “overcapacity” to China’s export of new energy products. The US exports 80 percent of its chips, especially advanced chips and is a large exporter of pork and agricultural products. Is that “overcapacity” according to US logic? In fact, the ratio of export to production for Chinese new energy vehicle is far lower than that of Germany, Japan and the ROK. This is certainly not “dumping extra products into the global market”. “Overcapacity” may look like an economic issue, but truth is, the US is using it to hit Chinese industries and give the US itself an unfair advantage in market competition. It’s another example of US economic coercion and bullying.
In today’s world, supply and demand are both global, and the capacity of each country is determined by comparative advantage. This must be seen from an objective, dialectical and rational perspective based on the laws of economics. China’s leading edge in new energy is gained through strong performance, tech innovation and full-on market competition. A sick person doesn’t get well by forcing others to take the medicine. Those who use overcapacity to justify protectionism have nothing to gain and will only destabilize global industrial and supply chains, harm emerging sectors and hinder the world’s climate response and green transition. We urge the US to abandon the hegemonic mindset, keep an open mind, play fair, observe market economy principles and international trade rules, provide a truly world-class, market-oriented and law-based environment for trade and economic cooperation, and work with the rest of the world to advance universally beneficial and inclusive economic globalization.
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Lin Jian: Blaming China for “overcapacity” is not new. Years ago, the US accused China of “overcapacity” for exporting many high-quality, low-cost products. Now it is sticking the label of “overcapacity” to China’s export of new energy products. The US exports 80 percent of its chips, especially advanced chips and is a large exporter of pork and agricultural products. Is that “overcapacity” according to US logic? In fact, the ratio of export to production for Chinese new energy vehicle is far lower than that of Germany, Japan and the ROK. This is certainly not “dumping extra products into the global market”. “Overcapacity” may look like an economic issue, but truth is, the US is using it to hit Chinese industries and give the US itself an unfair advantage in market competition. It’s another example of US economic coercion and bullying.
In today’s world, supply and demand are both global, and the capacity of each country is determined by comparative advantage. This must be seen from an objective, dialectical and rational perspective based on the laws of economics. China’s leading edge in new energy is gained through strong performance, tech innovation and full-on market competition. A sick person doesn’t get well by forcing others to take the medicine. Those who use overcapacity to justify protectionism have nothing to gain and will only destabilize global industrial and supply chains, harm emerging sectors and hinder the world’s climate response and green transition. We urge the US to abandon the hegemonic mindset, keep an open mind, play fair, observe market economy principles and international trade rules, provide a truly world-class, market-oriented and law-based environment for trade and economic cooperation, and work with the rest of the world to advance universally beneficial and inclusive economic globalization.
__________________
ShanghaiEye focuses on producing top-quality contents.
Nobody knows SHANGHAI better than us.
Please subscribe to us ☻☻☻
__________________
For more stories, please click
■ What's up today in Shanghai, the most updated news of the city
https://www.youtube.com/playlist?list=PLeyl7CQ2A5MNjpE4hspSVry8dR555getN
■ Amazing Shanghai, exploring the unknown corners of the city, learning the people, food and stories behind them
https://www.youtube.com/playlist?list=PLeyl7CQ2A5MMVTWr-zIXjsS4hhSQPmyes
■ What Chinese people's lives are like during the post COVID-19 period
https://www.youtube.com/playlist?list=PLeyl7CQ2A5MPrPTmIirpfgETu6VKVESXe
■ Views of foreign scholars on China and its affairs
https://www.youtube.com/playlist?list=PLeyl7CQ2A5MO9ua_nSK6slRPdUl-ovjRe
■ Foreign faces in Shanghai, people living in this city sharing their true feelings
https://www.youtube.com/playlist?list=PLeyl7CQ2A5MP0vJDSw23_1MCPJhAfGbiG
■ Mini-docs showing why China is the country it is today
https://www.youtube.com/playlist?list=PLeyl7CQ2A5MOreRu2AbZ3ziIUyCcdBLwX
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