China world leader in overproduction, reports US report – Economy

The United States government’s annual trade estimate report points to China as a world leader in excess production for non-economic capacity, which is “evidenced” in a number of industries, such as “steel, aluminum and solar”, states the publication . According to the document, China is on track to create excesses in other areas, following the plans “Made in China 2025”, to which the government would be allocating “billions of dollars to support Chinese companies”.

The American government “will continue its bilateral and multilateral efforts to deal with these harmful trade practices,” states the publication. One of the accusations of the Chinese plans is that the country has set goals for local companies to achieve in the domestic market, which would occur “at the expense of imports”.

Attributed US Trade Representative, Katherine Tai, the document published annually since 1985, and points out “barriers to exports” in 65 partners across the country. Brazil is cited for offering local regulations for streaming services, and for testing and certification in telecommunications equipment.

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