In a fiery exchange, China's Foreign Ministry spokesperson Wang Wenbin hit back at the United States over its recent \"overcapacity\" accusations, labeling them as blatant acts of \"bullying.\" 🙅♂️💢
At a regular press briefing on Tuesday, Wang criticized the U.S. for its double standards. He pointed out that when the U.S. provides subsidies to its industries, it calls them \"critical investments.\" Yet, similar actions by other countries are dismissed as \"unfair competition.\" 🤔
\"When American products dominate, it's called 'free trade.' But when others excel, it's suddenly 'overcapacity,'\" Wang remarked, highlighting the hypocrisy in the U.S. rhetoric. 🧐
Wang accused the U.S. of using the guise of \"overcapacity\" to suppress advanced industries in other nations. He argued that the U.S. employs protectionism under the banner of \"fair competition,\" undermining market principles and international trade rules. 🌐🚫
China's Boom in New Energy Industries ⚡🚗
Wang emphasized that China's rapid growth in new energy sectors—like electric vehicles, lithium batteries, and photovoltaic products—is driven by continuous technological innovation, a strong supply chain, and healthy market competition. He stressed that China's leading position isn't just about subsidies but stems from genuine comparative advantages and market dynamics. 📈🔋
On the flip side, Wang pointed out that the U.S. has been pouring billions into its industries through acts like the Chips Act and the Innovation and Competition Act, directly interfering in market resource allocation. 💵💻
A Call for Fairness 🤝
\"The growth of China's new energy industry aligns with the global push for a green economic transformation,\" Wang noted. \"It benefits not just China, but the United States and the entire world.\" 🌿🌍
He urged the U.S. to abandon its \"hypocritical double standards\" and protectionist tendencies, advocating for a fair and open trade environment. ✊
Reference(s):
cgtn.com
