U.S. Treasury Secretary Janet Yellen faces tough road on China’s excess capacity problem

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Open this photo in gallery: U.S. Treasury Secretary Janet Yellen arrives at Guangzhou Baiyun International Airport, in Guangzhou, Guangdong province, China, on April 4.Tingshu Wang/Reuters 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. Global prices for many...