🧵 1/ China Minister of Commerce Wang Wentao denies EV edge due to subsidies, cites innovations. Rejects US, EU concerns on "overcapacity." China's EV dominance attributed to strong supply chain and market competition. #tech
🧵 1/ China Minister of Commerce Wang Wentao denies EV edge due to subsidies, cites innovations. Rejects US, EU concerns on "overcapacity." China's EV dominance attributed to strong supply chain and market competition. #tech
🧵 2/ US Treasury Secretary Yellen expresses concerns on Chinese industrial overcapacity during visit to China. Emphasizes need for level playing field for American firms; plans discussions on economic imbalances and overcapacity.
🧵 Read more at: https://www.cnbc.com/2024/04/08/china-says-constant-innovations-not-subsidies-behind-its-ev-edge-.html