China Adviser Flags Geopolitical Risks in Xi’s Industry Push
- Huang Yiping said Beijing should address overcapacity concerns
- Economist warned of ‘protectionist wave’ against Chinese goods
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China needs to adjust its industrial policy to counter rising criticism of overcapacity from the US and Europe, two government-linked economists said, highlighting growing awareness of a pushback against hi-tech exports.
Huang Yiping, a former advisor to China’s central bank, on Wednesday said China’s industrial policy is at the heart of US concerns about Chinese overcapacity and the European Union’s anti-subsidy investigation into Chinese electric vehicle imports. His comments represent a rare admission among government advisers of the external challenges facing President Xi Jinping’s efforts to drive growth by pouring money into manufacturing.