'Overcapacity' based on an illogical premise

Some media outlets in the West have been hyping up the issue of China's "overcapacity", claiming that China produces more than it consumes. An in-depth analysis will help set the record straight.

Overcapacity can manifest in various forms, such as absolute overcapacity, relative overcapacity and structural overcapacity. Capacity is a dynamic variable, with both demand and supply constantly changing, and achieving equilibrium is an ideal state that is not easily reached.

A look at statistical data finds more. The utilization rate of manufacturing capacity in the United States was 77.24 percent in the fourth quarter of 2023, while the utilization rate in China during the same period was 76 percent. Given that there is little difference between the utilization rates of the two countries, how can the US justify its accusing China of "overcapacity"?