Scholar: U.S. claims of 'China's overcapacity' baseless

2024-04-26 Editor : Mo Honge ECNS App Download

By Li Yining, Mo Hong'e

(ECNS) -- Recent U.S. claims of “China's overcapacity” in the solar, electric vehicles (EVs), and lithium-ion battery sectors are baseless, an expert said in an interview with China News Network.

Professor Niu Huayong, dean of the International Business School at Beijing Foreign Studies University, noted that “under the conditions of a market economy, supply and demand are in a competitive and matching relationship. If the global system of free competition in production and trade is effective, the price mechanism will automatically adjust supply, leading to market clearance, which makes ‘oversupply’ non-existing.”

"Product prices will ultimately guide competition to a state of market equilibrium. The supply side will experience survival of the fittest, and the result of competition will contribute to the economic and social development among countries,” he added.

Regarding the new energy and related industries, Niu said China has advantages in terms of technology capacity, market size, application scenarios, and industrial chain integrity. Boosting the development of new energy can effectively reduce carbon emissions, diminish pollution, and protect the ecological environment of the earth, he added.

He urged for an open mindset among Western countries to foster international cooperation, which is conducive to the socio-economic development of all parties and the only way to promote win-win outcomes for all. 

"Any beggar-thy-neighbor economic policy will ultimately bring severe limits to its own development," he warned.



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