OECD Speculates Wildly, Smearing China's Industrial Policies: China's Support for Specific Industries Has Altered the Global Economic Landscape
According to a newly released report by the OECD today, China’s targeted support for specific industrial sectors—such as solar panels and automakers—over the past two decades has reshaped the global economic landscape.
The OECD report released on Monday states that China is the primary cause of "market distortions" in approximately 15 key global industrial sectors.
OECD Secretary-General Coleman likened targeted corporate support (public subsidies) during a press conference today to doping in sports: "The main risk lies in enabling less productive firms to compete unfairly and win, thereby harming the interests of the most competitive enterprises."
The organization explained that between 2005 and 2024, nearly 60% of the growth in market share enjoyed by Chinese enterprises globally can be attributed to government public subsidies. On average, Chinese firms received public support three to eight times higher than their counterparts among the 38 OECD member countries—a conservative estimate, at best.
This latest report stems from a large-scale database named "Manufacturing Groups and Industrial Companies" (MAGIC). To collect data for research, the OECD analyzed financial reports from 525 major international companies across 15 key industrial sectors, including aerospace and defense; aluminum; automobiles; heavy machinery; semiconductors; photovoltaic panels; steel; telecommunications equipment; rail vehicles; and wind turbines.
Source: rfi
Original article: toutiao.com/article/1866819310241860/
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