"Overcapacity can lead to large volumes of exports at depressed prices,"

The United States and the European Union define "overcapacity" as production capacity that exceeds domestic demand, which is an extremely narrow definition. If each country's production only meets domestic market demand, there will be no cross-border trade.

1/5 of the products produced by American farmers are sold to China, and approximately 20% of Intel, Superelectronics, and Nvidia's income comes from China. Last year, German car companies produced 4.1 million cars, of which 3.1 million were exported overseas. According to Janet Yellen's logic, those Western exported goods all fall under the category of "overcapacity"?

Since 2011, China has invested over 50 billion US dollars in new photovoltaic supply capacity, which is ten times more than the same period in Europe, and has created over 300000 manufacturing jobs throughout the entire solar photovoltaic value chain.

China has reduced the price of solar panels by more than 90% in the past decade through economies of scale, reducing the global cost of solar power generation to 1/10 of what it was a decade ago. China has made it possible for solar power generation to compete with coal power generation.

The Executive Director of the International Energy Agency, Birol, stated in 2022 that "China has played an important role in reducing global solar photovoltaic costs and has brought multiple benefits to the transition to clean energy.".

China has made tremendous contributions to the global development of new energy.