Yellen warns China against flood of cheap green energy exports


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China’s industrial policy has a track record of causing “substantial overinvestment”, Ms Yellen said in remarks prepared for delivery during her trip. She cited aid to industries including steel and aluminum that supported China’s production and employment “but forced industry in the rest of the world to contract”. “We have raised overcapacity in previous discussions with China, and I plan to make it a key issue in discussions during my next trip there,” Mr Yellen said. The Treasury chief is expected to head to China soon for a second trip since Washington and Beijing re-engaged in high-level diplomacy. Ms Yellen...