China\u2019s industrial overcapacity should not be singled out for blame amid trade imbalances, as economies worldwide are struggling to adapt to shifts in the global economy, contributing to mounting pressures, a prominent Chinese scholar said in comments directed at the United States.<\/p>\n
\u201cThe reason why our imbalance is becoming a bigger problem is that the rest of the world is having a bigger problem in adjusting the economic structure,\u201d said Huang Yiping, dean of Peking University\u2019s National School of Development and an adviser to China\u2019s central bank, on Tuesday.<\/p>\n
Speaking at the World Economic Forum\u2019s annual meeting in Dalian, Huang pointed to the US, arguing that Washington\u2019s complaints<\/a> over Chinese exports hurting manufacturing jobs had overlooked America\u2019s deeper constraints in managing the impact of trade and globalisation.Discussions of global imbalances featured prominently at the gathering, also known as Summer Davos, as China\u2019s record trade surplus<\/a> fuels concerns that Beijing\u2019s industrial policy is generating excess capacity that is spilling over into global markets.<\/p>\n Huang said Beijing had made progress in reducing external imbalances, with its current-account surplus narrowing from nearly 10 per cent of gross domestic product in 2007 to about 3.7 per cent in recent years. But he acknowledged that more aggressive measures were needed to boost consumption, which remains well below global averages.<\/p>\n \u201cHow to work together with the rest of the world is a challenge we face, not just by China, but also by other economic partners,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"China\u2019s industrial overcapacity should not be singled out for blame amid trade imbalances, as economies worldwide are struggling…\n","protected":false},"author":2,"featured_media":550399,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[174],"tags":[1793,79,381,5214,148957,179,18,235842,8948,86965,19,17,235841,24390,235840,384,39506,2709,78553],"class_list":["post-550398","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-beijing","tag-business","tag-china","tag-chinese","tag-dalian","tag-economy","tag-eire","tag-elizabeth-thurbon","tag-global-south","tag-huang-yiping","tag-ie","tag-ireland","tag-marshall-plan","tag-peking-university","tag-summer-davos","tag-united-states","tag-university-of-new-south-wales","tag-washington","tag-world-economic-forum"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/116800633122336563","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/550398","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=550398"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/550398\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/550399"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=550398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=550398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=550398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}