(The Telegraph) - The US Treasury Secretary has accused China of creating unfair competition that “distorts global prices” as it ramps up production of technologies aimed at shifting the world towards net zero.
Janet Yellen said the increased production in solar energy, electric vehicles and lithium-ion batteries by Beijing “hurts American firms and workers, as well as firms and workers around the world”.
Ms Yellen, who is planning her second trip to China as Treasury Secretary, said that she will convey her belief that Beijing’s increased production of green energy also poses risks “to productivity and growth in the Chinese economy”.
During a speech in Georgia, she will say: “I will press my Chinese counterparts to take necessary steps to address this issue.”
China is the dominant player in batteries for electric vehicles and has a rapidly expanding car industry.
A quarter of EVs sold within the EU this year will come from the country, according to analysis by Transport & Environment (T&E).
By Chris Price
