In quest for global dominance in geopolitics, China already has built factories in other countries such as Vietnam.
Highlights:
- US has accused China of building overcapacities in key industries which could flood global markets
- China has officially denied overcapacities but its policymakers are aware of the issues at home
- Beijing needs to invest for growth, but new energy manufactures and other segments have too much money locked in
- US, Europe, Saudi, India and others have set up new energy capacities domestically, putting them at loggerheads with China
- Amid quest for global dominance in geopolitics, China already has built factories in