U.S. notion of "China's overcapacity" excuse for protectionism

Cartoon by Ma Hongliang

Recently, some U.S. politicians have manufactured a new topic of controversy, claiming that "China's overcapacity" is impacting the global market.

Some U.S. officials accused China's new energy industry of relying on subsidies for large volumes of exports, with "overcapacity" impacting the international market.

In fact, it is something the U.S. uses as an excuse, driven by domestic economic and political imperatives and in disregard of market principles and international rules, to implement trade protectionism.

The U.S. is essentially using the so-called "overcapacity" narrative to seek a more favorable competitive position and market advantage, thereby suppressing the development of relevant industries in China.

The rapid growth of China's new energy industry is built on continuous tech innovation, full-fledged industrial and supply chains and full market competition. Its leading edge is a result of a combination of comparative advantage and the laws of the market.

The U.S. should abandon its hegemonic mindset, play fair, observe market economy principles and international trade rules, and work with the rest of the world to advance universally beneficial and inclusive economic globalization.