China just dropped some truth bombs on Western countries worried about its industrial overcapacity. On Wednesday, Lin Jian, spokesperson for the Chinese Foreign Ministry, said at a regular press briefing that the whole \\"China's overcapacity is impacting the global market\\" thing is a \\"false narrative.\\"
He warned that slapping on trade protection measures over these concerns is like throwing a wrench into the global economic engine. It could mess up production and supply chains and slow down the world's shift towards greener economies and new industries.
\\"China's new energy industry? We've got skills for days ,\\" Lin said, pointing out that their advantages come from legit skills and fierce market competition, not government handouts.
\\"We're all about openness when it comes to industrial cooperation,\\" Lin added. \\"We hope others will keep an open mind, play fair, and join us in creating an international, market-driven, and law-based environment. Let's team up for mutual benefits and push economic globalization in a more inclusive direction!\\"
Reference(s):
China: Overcapacity issue should be viewed based on market economy
cgtn.com