Yellen Condemns China's Subsidies in New Industries

US Treasury Secretary Janet Yellen has criticized China's use of subsidies to give its manufacturers in key new industries a competitive advantage, at the cost of distorting the global economy. Yellen plans to press China on the issue in an upcoming visit. She highlighted China's heavy aid to electric-car, battery, and solar producers, emphasizing that there is no country in the world that subsidizes its preferred industries as heavily as China does. Yellen stated that China's desire is to have global domination of these industries. The remarks were made during an interview with MSNBC. This criticism reflects growing tensions between the US and China over trade practices, and could impact future negotiations and global economics.