Yellen Warns of China's Economic Impact on Global Trade

U.S. Treasury Secretary Janet Yellen emphasized that China's excessive industrial capacity and growing exports are causing problems for other economies, urging market-based reforms and addressing overcapacity. She highlighted the need for China to reduce excess manufacturing capacity, particularly in emerging sectors like electric vehicles and solar energy products, and raised concerns about the deteriorating business climate and unfair treatment of international companies in China. Yellen's comments underscored the potential trade tensions and the impact of China's rapid growth on global markets.