New York, April 25 -- The Secretary of the US Department of the Treasury, Janet L. Yellen visited the People's Republic of China (PRC) from April 3rd to April 9th, 2024, for bilateral meetings aimed at strengthening healthy economic relationships and engaging in other diplomatic discussions. During her visit, Yellen expressed concerns about Chinese state subsidies, stating in a press conference that they "pose significant risks to workers and businesses not only in the United States but also globally."

While on a subsidies boat cruise along the Pearl River in the southern Chinese city of Guangzhou, Yellen further criticised China for its industrial overcapacity and unfair trade practices. These comments underscored the ongoing economic t...