The US Treasury Secretary, Janet Yellen, stated that future talks between the US and China will focus on the need for Beijing to shift its industrial and economic policies. Yellen believes China's overcapacity in certain sectors has been harming other countries' economies. She and Chinese officials discussed Beijing's economic plans, but further details were not provided. The topics of national security and information exchange on economic tools were also discussed during Yellen's visit to China.
Tensions between Europe and China are growing as China's industries produce goods more cheaply, leading to fears that European industries will struggle to compete and could face severe losses. This overproduction in China can result in price wars and ultimately threaten the stability of the European economy. Europe is China's largest regional trading partner, and experts worry that the situation could worsen as China promotes high-end manufacturing to boost its self-sufficiency.
