Claims state subsidies caused China’s industrial overcapacity a deliberate smear: scholar

Western narratives alleging state subsidies caused China’s industrial overcapacity are a deliberate attempt to smear the country and not tenable in the face of solid data and facts, a Chinese scholar said. Writing in a commentary published on Tuesday in the Communist Party mouthpiece People’s Daily, Cui Fan, an international trade professor at the University of International Business and Economics in Beijing, argued that “industrial subsidies do not inherently lead to excess...