In a recent commentary, George Yeo, Singapore's former foreign minister, took a stance against the prevailing narrative that China is grappling with overcapacity. 🌏💼
Yeo argued that while Western countries reap the benefits of global trade, they often criticize China for \"working too hard\" and creating excessive capacity in various industries. \"It's ironic how some nations enjoy the fruits of globalization but are quick to point fingers at China's production scale,\" he noted.
The former official emphasized that China's efforts in expanding manufacturing capabilities are not only a testament to its economic resilience but also contribute significantly to the global economy. \"Instead of labeling it as overcapacity, we should recognize the immense value it brings to worldwide markets,\" Yeo stated.
This perspective invites a reevaluation of how countries perceive China's economic strategies, highlighting the interconnectedness of today's globalized world. 🌐✨
