A Chinese official on Tuesday slammed “overcapacity” claims from the US, describing such claims as acts of “bullying.”
The U.S. justifies its own subsidies as “critical investments in industry,” while similar actions by other countries are labeled as “concerning unfair competition,” said Chinese Foreign Ministry spokesperson Wang Wenbin at a regular press briefing.
He pointed out the hypocrisy in U.S. rhetoric, where American exports are seen as products of “free trade” when they hold a comparative advantage, whereas other countries’ exports are dismissed as “overcapacity.”
At its core, the U.S. is using the pretext of “overcapacity” to suppress advanced industries in other countries, employing protectionism under the guise of “fair competition,” thereby trampling upon market economic principles and international trade rules in a blatant display of bullying, Wang said.
China’s rapid development in new energy industries such as electric vehicles, lithium batteries and photovoltaic products is rooted in continuous technological innovation, a robust supply chain system and healthy market competition, according to Wang. He emphasized that China’s leading position in these sectors is a result of its comparative advantages and market dynamics, rather than mere subsidies. Conversely, he accused the U.S. of massive industrial subsidies through acts like the Chips Act and the Innovation and Competition Act, intervening directly in market resource allocation to the tune of billions of dollars.
The rapid growth of China’s new energy industry aligns with the global need for economic green transformation, benefiting China, the United States and the world at large, Wang added, saying he hopes the U.S. could abandon its hypocritical double standards and protectionist tendencies.
