China defends manufacturing push, says world needs more EVs

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China defends manufacturing push, says world needs more EVs - Economic Times

Quick Summary:

The EU is moving forward with tariffs on Chinese electric cars, while Donald Trump has threatened to impose duties of 50% or more on imports of Chinese goods if he wins November’s presidential election.

Liao spoke to Bloomberg News on Friday, a day after Yellen vowed to “keep pressing China to address its macroeconomic model,” which she said is channeling “too much” savings and subsides into manufacturing and contributing to the overcapacity.

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