In a speech on Wednesday, Jay Shambaugh, Treasury’s underneath secretary for Worldwide affairs, warned concerning the threat that China’s excessive industrial ability poses to the global financial system by distorting marketplaces and undercutting fair Competitiveness.
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“In right now’s interconnected economic system, these types of overcapacity also can produce the focus of supply chains in ways that finally cut down economic resilience,” Mr. Shambaugh claimed in remarks with the Council on International Relations.
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