Specialists shrug off talk of overcapacity

International experts and business leaders have shrugged off the false narrative by the United States about China's "overcapacity" and its recent tariff increases on some Chinese products.

The US, they pointed out, tramples on the principles of the market economy and goes against the international trend of low-carbon transformation just to curb China.

"Basically, what's happening is that China is a threat to the US hegemony. It's not a threat to the US. It's not a threat to you. It's not a threat to me. It's not a threat to take over the United States at all. But it is a threat to the claim that the US runs the world. That is leading to a neurotic reaction," said Jeffrey Sachs, director of the Center for Sustainable Development at Columbia University.