Yellen faces tough road on China’s excess capacity problem

U.S. Treasury Secretary Janet Yellen arrives in China's southern factory hub of Guangzhou on Thursday with a tough message to Chinese officials: you're producing too much of everything, especially clean energy goods, and the world can't absorb it. China is unleashing a flood of electric vehicles (EVs), batteries, solar panels, semiconductors and other manufactured goods onto global markets, the result of years of massive government subsidies and weak demand at home. "We see a growing threat of money losing firms that are going to have to sell off their production somewhere," a senior U.S. Treasury official said of overproduction in key Chinese sectors.