Economy

White House warns China using overproduction for global dominance

WASHINGTON (Reuters) – Data showed that China had a significant overcapacity and was making far more goods than it needs in order to overtake global markets, White House official Daleep Singh said on Thursday.

Singh added China had amassed a growing amount of market power and was using it in way that gave it economic and geopolitical leverage.

“So that’s the problem, and it’s not abstract. You can see it in the numbers,” Singh told an event hosted by the Alliance for American Manufacturing. “They’re a big outlier and we’ve got to do something about it.”

This post appeared first on investing.com

You May Also Like

Economy

Thousands of dockworkers on the East Coast and Gulf Coast will return to work after reaching a tentative agreement on wages, ending one of...

Latest News

Tunisians voted Sunday in an election expected to grant President Kais Saied a second term, as his most prominent detractors, including one of the candidates challenging...

Editor's Pick

Republican presidential nominee Donald Trump criticized Vice President Kamala Harris’s mental capacity Saturday, falsely claiming she was born “mentally impaired” and comparing her actions...

Editor's Pick

Kamala Harris doesn’t get to decide if Donald Trump debates her a second time. But she will attempt to extract a cost if he...

Disclaimer: beneficialinvestmentnow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 beneficialinvestmentnow.com

Exit mobile version