China’s overcapacity results from state interference in markets, say analysts

washington — U.S. Treasury Secretary Janet Yellen is on a five-day visit to China, where she expressed concern to Chinese officials Friday about state subsidies that fuel manufacturing overcapacity in industries such as electric vehicles, solar panels and semiconductors. U.S. officials and economists have warned that China’s overcapacity — when its production ability significantly exceeds what…

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US official urges China to address ‘industrial overcapacity’

washington — U.S. Treasury Secretary Janet Yellen called on China Friday to address its industrial overcapacity, reform its trade practices and create a “healthy economic relationship” with the United States. “The United States seeks a healthy economic relationship with China that benefits both sides,” Yellen said in remarks in the industrial southern Chinese city of Guangzhou.…

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Ukraine’s ambassador to US: ‘We need to win,’ but need ammunition now

WASHINGTON — Next week could prove pivotal for Ukraine, as U.S. legislators reconvene following the Easter break. One of the most pressing topics for discussion is President Joe Biden’s supplemental request, which includes $61 billion for Ukraine. Without these funds, U.S. aid to Ukraine will have de facto halted. Meanwhile, House of Representatives Speaker Mike Johnson…

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US report: 68,000 guns illegally trafficked by unlicensed dealers over 5 years

WASHINGTON — More than 68,000 illegally trafficked firearms in the United States over a five-year period came through unlicensed dealers who aren’t required to perform background checks, according to new data released Thursday by the Bureau of Alcohol, Tobacco, Firearms and Explosives.  That represents 54% of the illegally trafficked firearms in the U.S. between 2017 and…

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US official talks AUKUS expansion ahead of summit with Japan

washington — U.S. Deputy Secretary of State Kurt Campbell has suggested that the U.S.-U.K.-Australia trilateral security partnership known as AUKUS may soon be expanded to include other Indo-Pacific nations. AUKUS was established in 2021 in the face of China’s increasingly assertive presence in the Indo-Pacific. Talks about other countries joining the group or participating in what…

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Scathing federal report rips Microsoft for response to Chinese hack

BOSTON — In a scathing indictment of Microsoft corporate security and transparency, a Biden administration-appointed review board issued a report Tuesday saying “a cascade of errors” by the tech giant let state-backed Chinese cyber operators break into email accounts of senior U.S. officials including Commerce Secretary Gina Raimondo. The Cyber Safety Review Board, created in 2021…

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