this post was submitted on 22 Dec 2025
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China
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Overcapacity is actually an economic term badly misused by Western media and politicians. As explained in the video, China has the ability to meet more demand than currently exists globally or domestically.
That doesn't mean that they are dumping, which is what the EU and US accuse China of doing. Dumping would be losing money to gain market share. China are just too competitive, making profit where EU and US companies can't.
The other dumb accusation is that Chinese consumers aren't spending enough (because they are so oppressed). What they often mean is spending on property: "Why aren't they inflating the housing market like in the West?"
Bessant had the BS line that the US wants to help China consume more by exporting US goods there. US goods are not competitive in the Chinese market. So consumption wouldn't really rise because US goods are available.